By Jason Simpkins Associate Editor Oil soared to yet another record high on Friday after Goldman Sachs Group Inc. (GS) raised its price forecast for the second half of the year. However, during a visit with Saudi Arabia's King Abdullah U.S. President George W. Bush was able to convince the world's leading oil exporter to […]
Archives for May 2008
May 2008 - Page 6 of 14 - Money Morning - Only the News You Can Profit From
Gold Finishes Week Strong, Nears $900 an Ounce
By Jason Simpkins Associate Editor Gold futures closed at $899.90 an ounce Friday, the highest level in close to a month, gaining 1.6% on the week as lackluster economic data increased the precious metal's appeal as an inflation hedge. Gold for June delivery hit an intraday high of $904.50 on the New York Mercantile Exchange. […]
Consumer Sentiment at Lowest Level Since Stagflation Era
By Jennifer YousfiManaging Editor Mirroring the stagflation of the early 1980s, consumer sentiment hit its lowest level since that time period this month as short-term inflation continues to ramp up. The Reuters/University of Michigan preliminary index of consumer sentiment dropped to 59.5 in May from 62.6 in April. The index is at its lowest level […]
Former Oilman T. Boone Pickens Makes a $2 Billion Bet on Alternative Wind Energy
By Jennifer Yousfi Managing Editor T. Boone Pickens made his fortune in oil. But now the Dallas oilman and famed former corporate raider is betting $2 billion that he can have the same success with a new source of energy – wind. Pickens' Mesa Power LLP yesterday (Thursday) unveiled the first phase of an eventual […]
With its Profits Lagging, GE May Have a Deal in the Oven, Analysts Say
By William Patalon III Executive Editor Money Morning/The Money Map Report While industry insiders say that General Electric Co. (GE) may be looking to sell or spin-off its home-appliance business unit, the move may actually be the first in a series of divestitures designed to unshackle the Corporate America heavyweight from consumer-driven markets. Story continues […]
Two Ways to Profit as China and Japan Quietly Forge the Most Powerful Trading Alliance in the World
By Martin Hutchinson Contributing Editor Chinese President Hu Jintao and Japanese Prime Minister Yauo Fukuda met recently and signed some modest cooperation agreements. That doesn't sound much to get excited about, until you consider how well the Chinese and Japanese economies fit together. Think of it this way: With China's boundless supply of low-cost labor […]
Global Investing Roundups
China Quake Death Toll Could Hit 50,000; Initial Jobless Claims Edge Higher; CBS to Acquire CNet; GM Strikes Deal with Union; Fed Chair Urges Banks to Raise Capital; Industrial Output Sinks Led by Auto Industry; Profit Falls, Stocks Rise for Penney's; Multi-Billion Housing Rescue Package Close to Resolution China's central government said yesterday (Thursday) that […]
Icahn: Yahoo “Completely Botched” Microsoft Merger; Threatens Board Proxy War
By Mike Caggeso Associate Editor Carl Icahn is adding to his reputation as a boardroom bully. In a letter to Yahoo Inc.' (YHOO) Chairman Roy Bostock, the billionaire investor threatened to seek control of the board and resuscitate takeover talks with Microsoft Corp. (MSFT). Two weeks ago, Yahoo Chairman of the Board and co-founder Jerry […]
European Growth Strong in the First Quarter, but Will it Last?
By Jason SimpkinsAssociate Editor Powered by the biggest German expansion in 12 years, the European economy shrugged off the U.S. slowdown to post first-quarter growth numbers ahead of analyst estimates. Gross domestic product (GDP) in the 15-country Eurozone increased by 0.7% in the first three months of the year, Eurostat reported. Analysts had predicted a […]
Global Investing Roundups
Deere's Bountiful Harvest; Dupont Teams Up with Danisco; Miller Takes Over Grolsch Distribution; China Quake May Pause Interest Rate Hike; Aluminum Corp. of China May Nab BHP Stake; Whole Food Drops on Disappointing Sales Gain; Food Costs Sink Jack in the Box; Freddie Mac Gets Creative with the Books Deere & Co. (DE), the world's […]