By Jason Simpkins Associate Editor Sweden yesterday (Monday) became the latest European country to announce it would inject capital into the financial markets and take equity stakes in the nation’s leading banks if necessary. The move was intended to calm investors and analysts who were afraid that Sweden would suffer a financial meltdown similar to […]
Archives for October 2008
October 2008 - Page 6 of 14 - Money Morning - Only the News You Can Profit From
ING Gets a $13.4 Billion Government Boost
By Jennifer YousfiManaging EditorMoney Morning ING Groep NV (ADR: ING) shares jumped more than 20% in early afternoon trading yesterday (Monday) after the Dutch financial firm announced a $13.4 billion (10 billion euro) capital injection and the sale of one of its life insurance subsidiaries. ING shares gained $2.24 for the day, a 21% gain, […]
OPEC Expected to Call for Production Cuts at Emergency Meeting Friday
By William Patalon III Executive EditorMoney Morning/The Money Map Report The Organization for the Petroleum Exporting Countries (OPEC) is looking to stabilize global crude oil prices at $70 to $90 a barrel, which is why the cartel has called an emergency meeting in Vienna on Friday. The cartel had been scheduled to meet Nov. 18. […]
Here’s Why the Stock Market Relief of Late Last Week May Not Last
By William Patalon IIIExecutive EditorMoney Morning/The Money Map Report While investors remain extremely concerned about the volatility of the U.S. stock market, the weakness of the American economy and the uncertainty of the global financial markets, last week brought “slight” relief from the excessive panic of the eight-trading-session losing streak. Bear in mind that each […]
Although "Hot Money" Flees China the Red Dragon Will Emerge From Financial Crisis Unscathed
By Jason SimpkinsAssociate EditorMoney Morning On the surface, it appears as though the Chinese economy is suffering along with the rest of the world. The economic crisis that has ensnared Western economies is expected to dampen Chinese exports and there is already evidence of capital flight. But the real story is that China’s foreign exchange […]
Buy, Sell or Hold: PepsiCo Inc.
PepsiCo Inc. (NYSE: PEP) shares plunged 12% in a single day last Tuesday – their worst one-day showing in 26 years – after the world’s largest snack maker and No. 2 soft-drink producer announced it would slash 3,300 jobs after its profits fell more than expected for the quarter and it lowered its forecast for […]
Pakistan on the Verge of Bankruptcy, Presses Allies for Support
By Jason Simpkins Associate Editor Pakistan said Friday that it would seek $4 billion in financial assistance, mostly from the World Bank, the Financial Times reported. Pakistan, a nuclear power and neighbor to Afghanistan, is on the verge of bankruptcy and if it does not receive the assistance it requires, the economy could collapse resulting […]
LIBOR Drops But Short-Term Credit Markets Remain Tight
By Jennifer YousfiManaging EditorMoney Morning Short-term lending rates fell after a week of unprecedented government intervention in the global financial markets helped to encourage banks to resume lending. The dollar-denominated three-month London Interbank Offered Rate (LIBOR) dropped 40 basis points over the course of the week to 4.42% – its first such decline since July. […]
Inflation Cools as Economic Downturn Deepens
By Jennifer YousfiManaging EditorMoney Morning Consumer prices held steady as the credit crisis took a toll on the sluggish U.S. economy and dampened inflation. The Labor Department announced yesterday (Thursday) that the Consumer Price Index (CPI) was unchanged in September after declining 0.1% in the prior month. Year-over-year, consumer prices increased 4.9% for the 12 […]
Even After the Bailout, Bank Stocks are a Bad Deal for Investors Right Now
By Martin HutchinsonContributing EditorMoney Morning The $250 billion bank bailout announced Monday is a great improvement on the $700 billion Troubled Asset Relief Program (TARP). However, for those thinking of buying bank stocks on the back of it I would point out one thing: Once the government’s plan to take equity stakes in troubled financial […]