By Jason Simpkins Associate Editor Japanese Prime Minister Yasuo Fukuda will spend about $108 billion (11.7 trillion yen) on a stimulus package that critics say is more of an attempt to salvage political support than it is a serious effort to rescue an economy teetering on the brink of recession. While the plan is being […]
Archives for August 2008
August 2008 - Money Morning - Only the News You Can Profit From
Slowdown in Consumer Spending Could Lead to Recession by Year-End
By Jennifer YousfiManaging Editor Consumer spending, responsible for the bulk of U.S. gross domestic product (GDP), slowed in July as the effects of the government's stimulus package tapered off. The Commerce Department announced that consumer spending grew at a 0.2% rate in July. But on an inflation-adjusted basis, consumer spending dropped 0.4%, as high prices […]
Global Investing Roundups
Lukoil Counts on Artic Find; Gourmet-Cookware Seller Burned by 2Q Results; FGIC Prolongs the Inevitable; Diageo’s Strong Sales; Lehman Bros. Plans Layoffs; Toyota’s 10 Million Goal Just Out of Reach Lukoil (OTC ADR: LUKOY), Russia’s second-largest oil producer said its new Artic oilfield would allow it to match last year’s production, Reuters reported. Oil output […]
Diamonds in the Rough: Two Luxury Brands Ready to Shine
By Jennifer YousfiManaging Editor Luxury jeweler Tiffany & Co. (TIF) yesterday (Thursday) followed in the footsteps of other high-end brands when it announced strong fiscal second quarter results. Tiffany’s net income increased to $80.8 million, or 63 cents per share, in the second quarter, up from $40.5 million, or 29 cents, for the same period […]
Colombia: Latin America's Hidden Gem for Investors
By Martin HutchinsonContributing Editor I have to admit it: When it comes to investing in such emerging markets as Latin America, I’m generally a cynic. It’s partly because of my experiences as a young banker there in 1979-82. But I’m just as troubled by the mad optimism that goes around Wall Street every time some […]
DP World Posts 123% Jump in Net Profit, Continues to Expand Operations
By Jason Simpkins Associate Editor DP World, the world’s fourth-largest ports operator said yesterday (Thursday) net income more than doubled in the first half of the year, and is expected to deliver full-year results in line with expectations, despite “indications of weakening economic growth in some markets.” DP World operates 44 ports around the world, […]
Second Quarter Economic Growth Revised Up, but Turbulence Lies Ahead
By Jason SimpkinsAssociate Editor The U.S. economy grew at a much faster pace than originally estimated in the second quarter, but that growth will likely stall in the second half of the year, as consumer spending and overseas demand continue to wane. Gross domestic product (GDP) expanded at an annual pace of 3.3% in the […]
Chrysler Considers Sale of Gas-Guzzling Viper
By Jennifer Yousfi Managing Editor With the U.S. auto market increasingly focused on practicality and fuel-efficiency, Chrysler LLC announced yesterday (Wednesday) it was entertaining offers for its Dodge Viper sports car. "We have been approached by third parties who are interested in exploring future possibilities for Viper," Chief Executive Bob Nardelli said in a memo […]
The Three Rules That Will Lead to Long-Term Profits
By Keith Fitz-Gerald Investment Director Money Morning/The Money Map Report During a two-year stretch every 20 years or so, the Standard & Poor's 500 Index can be expected to lose 35% or more of its value. In 1974, according to research by Ibbotson Associates, that truism manifested itself as a 37.25% downdraft. It was even […]
New Natural Gas Discoveries are a Boon for the U.S. Energy Sector
By Jason Simpkins Associate Editor After declining for 15 years, U.S. natural gas production is finally on the rise, thanks to new technological developments that make it possible to draw large amounts of gas from deposits previously thought to be unreachable. An increase in natural gas production of the magnitude many industry insiders predict could […]