By Martin HutchinsonContributing EditorMoney Morning The U.S. economy is entering a recession. With each day that passes and each indicator we see, that eventuality becomes more and more clear. Even so, we can take some real comfort in knowing that we’re likely going to avoid the “bottomless pit” of a Great Depression II. A substantial […]
Archives for October 2008
October 2008 - Page 5 of 14 - Money Morning - Only the News You Can Profit From
With its Surprise Interest-Rate Cut, India Puts Itself "Ahead of the Curve," India Expert Rahemtulla Says
By William Patalon III Executive Editor Money Morning/The Money Map Report With its central bank’s surprise interest-rate cut on Monday, India may actually be ahead of the monetary-policy curve for the first time ever as it moves to avert a recession that Asia’s third-largest economy needs to avoid, India investing expert Karim Rahemtulla said yesterday […]
Global Investing Roundups
Pfizer Profit Triples; Kerkorian Dumps Ford; U.S. Bancorp Profit Nearly Halved; Oil Back Below $72; Avigen’s Drug Trial Mishap; OceanFreight Sails to Strong Dividend; Copper’s Costly Tumble; McClatchy’s Slack Ad Sales Pfizer Inc.'s (PFE) third-quarter profit tripled to $2.3 billion, or 34 cents per share, up from $761 million, or 11 cents per share, a […]
French President Sarkozy Calls for European Sovereign Wealth Funds to Protect Assets
By Jason Simpkins Associate Editor Money Morning Concerned about the recent decline in stock prices, French President Nicolas Sarkozy, yesterday (Tuesday) called for the creation of European sovereign wealth funds. The funds would be virtual carbon copies of the state-owned investment vehicles that have sprung up from Beijing to Abu Dhabi to disperse their respective […]
Fed Steps in with $600 Billion Plan to Bolster Money Market Funds
By Jennifer YousfiManaging EditorMoney Morning The U.S. Federal Reserve yesterday (Tuesday) announced a new program that will provide as much as $600 million in emergency funding to money-market funds should the ongoing global financial crisis once again cause the short-term credit markets to freeze out borrowers. The newly created Money Market Investor Funding Facility (MMIFF) […]
In a Surprise Move, India Lowers Key Interest Rate for the First Time in Four Years
By William Patalon III Executive Editor Money Morning/The Money Map Report India's central bank yesterday (Monday) unexpectedly lowered its base lending rate for the first time since 2004 – a move that signals that India Reserve Bank Governor Duvvuri Subbarao sees weaker growth and the credit crisis as bigger threats than inflation in Asia's third-largest […]
Although Bank-to-Bank Loan Rates Fall for the Sixth Straight Day, Only the Strong Will Survive
By William Patalon IIIExecutive EditorMoney Morning/The Money Map Report As a result of the U.S. credit crisis – and the near-shutdown of the commercial lending market – investors can expect the Corporate American landscape to change in a big way over the next 12 months. Although bank-to-bank loan rates fell for the sixth-straight day yesterday […]
Global Investing Roundups
Halliburton’s Slight Loss; “The Force” Boosts Hasbro; Better-Than-Expected Economic Outlook; Indian Airline Labor Reversal; NetFlix Earnings Pop; Home Prices to Fall Another 10%; Citi Wins Settlement; Merrill Cuts Jobs Halliburton Co. (HAL) yesterday (Monday) announced a third quarter loss of $21 million, or 2 cents per share, compared to a gain of $727 million, or […]
How LIBOR Threatened to Destroy the Global Banking System
By Martin HutchinsonContributing EditorMoney Morning The largest financial crisis since the Great Depression has revolved around an interest rate that many U.S. investors are only now hearing about for the very first time: The London Interbank Offered Rate (LIBOR). But if you understand that rate, and study the forces that have been influencing it, chances […]
Bernanke's Stimulus Support Sends U.S. Stocks Soaring
By Jennifer YousfiManaging EditorMoney Morning U.S. markets soared yesterday (Monday) after U.S. Federal Reserve Chairman Ben S. Bernanke endorsed another domestic stimulus package, sending the Dow Jones Industrial Average to its first close above 9,000 in four consecutive trading sessions. At the close in New York, the blue-chip Dow had gained 413.21 points (4.67%) to […]