By William Patalon III Executive Editor Money Morning/The Money Map Report Since we started Money Morning last year, there's been one key theme: The next generation of leading global companies will come from outside U.S. borders. If you need proof, just look at the Top Five suitors for General Electric Co.'s (GE) century-old home-appliances division. […]
Archives for May 2008
May 2008 - Page 2 of 14 - Money Morning - Only the News You Can Profit From
April Durable Goods Unexpectedly Improve, Shining Soft Light on U.S. Economy
By Mike Caggeso Associate Editor Orders for durable goods, excluding transportation, rose 2.5% in April, an unexpected gain that underscores that a weak greenback and strong overseas demand for American-made goods are helping recharge the downtrodden U.S. economy. Story continues below… Total orders last month shrunk by 0.5% to a seasonally adjusted $214.42 billion, the […]
Indonesia to Withdraw from OPEC Due to High Oil Prices
By Jennifer Yousfi Managing Editor Indonesia, the sole Asian member of the Organization of the Petroleum Exporting Countries (OPEC), will withdraw from the oil cartel at the end of this year. Energy Minister Purnomo Yusgiantoro announced yesterday (Wednesday) that he would sign a decree officially withdrawing Indonesia from OPEC when its membership expires at the […]
With Oil Speculators Blitzing, the Fed Needs to Call an Interest-Rate Reverse Play
By Martin Hutchinson Contributing Editor The inflationary reality that we as consumers have been living for months may finally be starting to dawn on the U.S. Federal Reserve. The minutes of the last policymaking Federal Open Market Committee (FOMC) meeting, released on Wednesday, showed that the Fed's inflation forecast was raised from a range of […]
In Major Shakeup, China's Govt. Melds Six Largest Telecoms into Three
By Mike Caggeso Associate Editor There are three new kings in China's $100 billion-plus telecom kingdom: China Telecom Corp. Ltd. (ADR: CHA), China Network Communications Group Corp. Ltd. (ADR: CN) and China Mobile Ltd. (ADR: CHL). Not surprisingly, all are state controlled. But now that the first two have more assets, the up-to-now dominant China […]
Global Investing Roundups
Bank of America Boosts China Bank Stake; Home Prices Continue to Fall; Record Profit and Resignation for Vodafone; Standard Pacific Stock Shoots Up; Landis&Gyr Lands 7 Million "Smart Meter" Contract; S. Africa Grows a Slow 2.1% in 1Q; Gold Futures Fall $18 Bank of America Corp. (BAC) announced yesterday (Tuesday) that it would increase its […]
The High-Tech View: New Ventures Have Sanyo Looking Sharp
By William Patalon III Executive Editor Money Morning/The Money Map Report Japan's Sanyo Electric Co. Ltd. (OTC ADR: SANYY) has become the latest company to become part of the industry cadre that's buying liquid-crystal display (LCD) panels from Sharp Corp. (OTC ADR: SHCAY) for use in flat-panel televisions. Sanyo said it started procuring the display […]
HSBC Chief Calls for Tougher Inflation Fight, Industry Changes
By Jennifer Yousfi Managing Editor The chief executive officer of HSBC Holdings PLC (ADR: HBC), Europe's biggest lender, yesterday (Tuesday) called on the U.S. Federal Reserve and other central banks to make fighting inflation a priority. "Inflation is a long-term problem because there is no long-term will to solve it," Chief Executive Officer Michael Geoghegan […]
Warren Buffett, the "Oracle of Omaha," Tells German Audiences That the U.S. Economy is in a Deep Recession
By William Patalon III Executive Editor Money Morning/The Money Map Report The United States is already in a recession and it will be longer as well as deeper than many people expect, U.S. investment guru Warren Buffett said in an interview published Saturday in the German magazine Der Spiegel. The United States is "already in […]
India and Other Emerging Economies Continue to Struggle With Inflation
By Jason Simpkins Associate Editor India's wholesale price index rose 7.82% for in the week ended May 10, the Ministry of Commerce and Industry reported. It marked the 13th straight week that the inflation rate has been above the central bank's 5.5% target, highlighting the increased pressures many developing nations are under given soaring commodities […]