American Express Scoops GE's Corporate Payment Services; Sharp Sheds Light on New Solar Plant; Fed to Investigate Countrywide Takeover; Lennar Falls Into Disrepair; Williams-Sonoma Lowers 2008 Guidance; MF Global Frees Up Capital; Oracle Earnings Disappoint; Google Slumps on Less Paid Clicks American Express Co. (AXP) said Thursday that it agreed to buy General Electric Co.'s […]
Archives for March 2008
March 2008 - Page 2 of 16 - Money Morning - Only the News You Can Profit From
Once Wall Street Embraced the Securitization Shuffle, it's Been no Wonderful Life for Borrowers or Investors
By Martin HutchinsonContributing Editor Contrary to what Wall Street would have you believe, this appalling sloppiness that created the subprime mortgage scandal has not been a feature of every housing boom for the last half century. It's actually quite new, the result of the misdirected incentives caused by the mortgage-securitization business. Traditionally, mortgage loans were […]
Fourth Quarter GDP Unrevised; Flat First Quarter Expected
By Jennifer Yousfi Managing Editor The U.S. economy only grew 0.6% in the fourth quarter of 2007. "The credit crunch and rising inflation teamed to put the economy flat on its back in the final three months of 2007," IDEAglobal economist Joseph Brusuelas told Thomson Financial News. The U.S. Bureau of Economic Analysis released its […]
Will Ben "The Mad Hatter" Bernanke Send the U.S. Economy Down the Rabbit Hole?
By Peter D. SchiffGuest Columnist How do you know when you're "through the looking glass?" One terrific clue is when the price of gold – which normally moves up in response to monetary easing – instead plummets in reaction to one of the largest interest-rate reductions in U.S. Federal Reserve history. Apparently, the 12% decline […]
Oil Prices Surge After Basra Bombings
By Jason Simpkins Associate Editor After surging nearly $5 Wednesday, light, sweet crude for May delivery rose as much as $2.05 to $107.95 a barrel on the New York Mercantile Exchange yesterday (Thursday) as concerns about violence in Iraq compounded the effect of supply concerns. A bomb exploded at the Zubair-1 pipeline in Basra, which […]
Qatar and Abu Dhabi SWFs Agree to Start Joint $2 Billion Acquisition Fund
By Mike Caggeso Associate Editor The sovereign wealth funds of Qatar and Abu Dhabi, a United Arab Emirates state, have agreed to start up a $2 billion joint fund that will finance oil and petrochemical acquisitions. Qatar Investment Authority (QIA) and Abu Dhabi's International Petroleum Investment Co. (IPIC) will each ante up $1 billion for […]
Midday Market Update: Tech and Financial Shares Drag on the Markets
By Jennifer Yousfi Managing Editor The U.S. stock indices trended lower for the second straight day on continued concerns about the technology and financial industries. At noon ET, the blue-chip Dow Jones Industrial Average Index had posted a slight decline of 30.61 points (-0.25%), to trade at 12,392.25. The tech-laden Nasdaq Composite Index dropped 19.49 […]
Have We Hit The Bottom?
By Keith Fitz-GeraldInvestment DirectorMoney Morning/The Money Map Report Since March 17th, when the S&P 500 tested a low of 1256.98, the markets have traded higher. As a result, we've received lots of email from readers concerned about the same thing: "Have we hit the bottom?" We don't know. But what we do know is that […]
Tata Targets Jaguar and Land Rover for Long-Term Returns
By Martin HutchinsonContributing Editor The world automobile industry is being turned upside down. Yesterday's purchase of the luxury brands of Land Rover and Jaguar by the Indian automobile manufacturer Tata Motors (TTM) shows this. Not only is Tata now a formidable competitor at the bottom end of the market, in India and other emerging markets, […]
Global Investing Roundups
Citi Settles Suit Over Enron; Vale Fails to Acquire Xstrata; Morgan Stanley Struggles to Move CICC Stake; Motorola to Split Amid Falling Sales; Huaneng Power Pumps $8.9 Bln into Expansion; Senate Probes Bear Stearns Deal; Starbucks Sued Again; Important Rambus Ruling Citigroup Inc. (C) said yesterday (Wednesday) that it has agreed to pay $1.66 billion […]