By Jason Simpkins Associate Editor Money Morning The European Central Bank (ECB) today (Thursday) cut its benchmark interest rate by half a point to 3.25%. The reduction was widely expected, as economic growth has supplanted inflation as the central bank’s chief concern. “Interest rates have to be appropriate for the economic environment,” ECB council member […]
Archives for November 2008
November 2008 - Page 9 of 10 - Money Morning - Only the News You Can Profit From
Study of Great Depression Shows Intervention Postpones Foreclosures, But Causes Mortgage Rates to Spike
By William Patalon III Executive Editor Money Morning/The Money Map Report It was January 1934. The Great Depression was five years old – but still had another five years to run. The carnage was horrific: From 1929 to 1934, U.S. personal income plunged 44%, real output nose-dived 30% and 25% of the American labor force […]
Money Morning Outlook 2009: Obamanomics Offers Investors Plenty of Profit Plays in the New Year
[Editor’s Note: This is the first installment of a new series that looks at the global investing outlook for 2009.] By Martin Hutchinson Contributing Editor Money Morning/The Money Map Report With his landslide election victory Tuesday – coupled with Democratic gains in the House of Representatives and in the Senate – U.S. President-elect Barack H. […]
Global Investing Roundups
Siemens Settle Bribery Charges for $1.3 Billion; Google Walks From Yahoo; Enbridge Channels 88% Profit Growth; FCC Approves Sprint-Clearwire Merger; GMAC Finance Revenue Stuck in Reverse; Time Warner Revenue Unchanged; Molson Coors Pops; News Corp. Profit Down 30% Siemens AG (SI) put aside nearly $1.3 billion to settle charges that it bribed government officials around […]
Job Losses Pile on in October, Expected to Accelerate as Economy Worsens
By Jason Simpkins Associate Editor Money Morning Job losses spiked in October according to two key employment reports released yesterday (Wednesday). The rate of unemployment has risen steadily over the past year but job losses expanded in both size and scope in October and will likely continue to accelerate well into 2009, further exacerbating an […]
Asian Governments Signal More Interest Rate Cuts Coming Soon
By Mike Caggeso Associate Editor Money Morning With inflation slowing in Asia, governments are signaling they are open to cutting interest rates to buffer their economies from the global credit dearth. A handful of Asian countries – Australia, China, Hong Kong, India, Japan, South Korea, Taiwan and Vietnam – all cut rates since last week. […]
Bailout Plan Forcing U.S. to Borrow $1.4 Trillion, Creating a $1 Trillion Deficit
By William Patalon IIIExecutive EditorMoney Morning/The Money Map Report The U.S. Treasury Department plans to borrow a record $550 billion in the current quarter, and another $368 billion in the first three months of the New Year – money needed to fund the $700 billion bailout plan the government is using to battle the worst […]
Bailouts Are a Mixed Bag – Even When They Work
By Keith Fitz-GeraldInvestment DirectorMoney Morning/The Money Map Report Although the ongoing financial crisis has introduced a new word – bailout – into the lexicon of most investors, a quick tour of history shows us that these big-ticket financial rescue plans are actually nothing new. And that raises the question: Do they work? A look back […]
Global Investing Roundups
Buy/Sell/Hold ETF Zooms 42%; Magna Reports 3Q Loss, Slashes Dividend; U.S. Factory Orders Down 2.5%; Walgreen Same-store Sales Rise 2%, Yahoo Shares Upgraded; Oil Rises 12% on Production Cuts; Archer Daniels Midland Doubles Profit; UBS Turns Profit; Verizon Cleared to Take Over Alltel; The iShares MSCI Brazil Index (EWZ), an exchange-traded fund (ETF) that was […]
European Commission Voices Antitrust Concerns Over BHP's Bid for Rio Tinto
By Jason Simpkins Associate Editor Money Morning BHP Billiton Ltd. (BHP) yesterday (Tuesday) received a formal complaint from the European Commission that detailed antitrust concerns about the mining giant’s proposed buyout of Rio Tinto PLC (RTP). Despite a sharp decline in commodities prices, BHP will likely make every effort to move on with the deal, […]