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Archives for September 2008
September 2008 - Page 7 of 11 - Money Morning - Only the News You Can Profit From
Lehman Desperate for a White Knight as Shares Continue to Tank
By Jennifer YousfiManaging Editor The Wall Street sharks are circling the bleeding balance sheet of Lehman Brothers Holdings Inc. (LEH) as the battered investment bank’s stock shed over 77% this week. Lehman shares closed at $3.65 today in New York, down a staggering $12.55 for the week and bringing the one-time fourth largest Wall Street […]
Beijing Flexes Financial Might to Turn Costa Rica Against Taiwan
By Jason SimpkinsAssociate Editor China’s State Administration of Foreign Exchange (SAFE) last year used its funds to convince Costa Rica to cut ties with Taiwan and establish a firm relationship with Beijing, The Financial Times reported last week, citing documents obtained by the news agency. The development underscores Beijing’s ability, and willingness, to use China’s […]
How Lehman Brothers' Own Risk Management Strategy May Cause it to Fail
By Martin Hutchinson Contributing Editor When Lehman Brothers Holdings Inc. (LEH) announced a third-quarter loss of $3.9 billion earlier this week, the investment bank's shares plunged as Wall Street questioned its long-term ability to survive. Of the five big investment banks that were in operation at the outset of this year, The Bear Stearns Cos. […]
The United States Loads Up for Tuesday's China Trade Talks
By Jason Simpkins Associate Editor Representatives from the United States and China will meet Tuesday at the Richard Nixon Presidential Library in Yorba Linda, California, to discuss a full docket of trade issues that will no doubt include China's massive trade surplus, the appreciation of the yuan, and a possible lawsuit over export restrictions. The […]
With Tanker Deal Shelved, Boeing Must Dig in For Possible Long Strike
By William Patalon IIIExecutive EditorMoney Morning/The Money Map Report Just one day after The Boeing Co. (BA) was notified that a multi-billion-dollar U.S. Air Force tanker competition has been put on hold, the embattled aerospace firm said it was steeling itself for a long strike by its hourly work force. Boeing's commercial aircraft production areas […]
Global Investing Roundups
Slim Bites Into Big Apple Daily; Campbell's Earnings Mmm, Mmm Good; King's Alpharma Bid Heats Up; Conflicting Crude Trader Findings; WSJ: BAC to Buy Lehman; Bristol Doesn't Budge; Sun Setting on Sunrise; Deutsche Bank Ready to Compete for Postbank Carlos Slim, the Mexican billionaire Forbes ranks as the second-richest man in the world, yesterday (Thursday) […]
Euro Skids on Increased EU Recession Worries
By Jennifer Yousfi Managing Editor The euro fell to a one-year low versus the dollar as economic concerns about European Union member nations continue to mount. The euro shed 0.6% to trade at $1.394 at 1:40 p.m. in New York yesterday (Thursday). Wednesday, the dollar reached as high as $1.3882, its highest level since Sept. 18, […]
Foreign Bondholders - and not the U.S. Mortgage Market - Drove the Fannie/Freddie Bailout
By William Patalon III Executive Editor Money Morning/The Money Map Report For anyone who still doubted the growing global influence of such emerging powerhouses as China, consider this: The U.S. government's decision to take control of foundering mortgage giants Fannie Mae (FNM) and Freddie Mac (FRE) was driven not by worries about the fading U.S. […]
Global Investing Roundups
Inflation Still Threatens Japan; Time-Out for Northrop and Boeing; Citi Takes a Hit on Fannie and Freddie; Chinese Inflation Subsides; ImClone's Secret Admirer; Bank of America Settles; Management Shake-Up at Sanofi-Aventis; Shell Evacuates in Face of Hurricane Ike Japan's wholesale inflation remained near a 27-year high in August, the government said yesterday (Wednesday), as the […]