Archives for January 2009

January 2009 - Page 5 of 12 - Money Morning - Only the News You Can Profit From

Geithner Promises TARP Overhaul, Regulatory Changes to Solve “Mother of All Financial Crises”

By Don MillerContributing Writer Money Morning U.S. Treasury Secretary-nominee Timothy Geithner told the Senate Finance Committee yesterday (Wednesday) that drastic measures are needed to combat the U.S. recession and promised to overhaul the beleaguered $700 billion Troubled Assets Relief Program (TARP). Testifying after former Fed Chairman Paul Volcker, Geithner told the committee the United States […]

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Global Investment News Briefs

Toyota's Announces 2008 Sales, New Prez; Constellation Unloads London Unit to Goldman; China Urban Unemployment Rises; Kingdom Holding Posts Massive 4Q Loss; WB Cuts 800 Jobs; JNJ Profit Up 14%; Rohm and Haas Sheds 900 Jobs; Google Shelves Print Ads Program Toyota Motor Corp. (ADR:TM) yesterday (Tuesday) named Akio Toyoda, the grandson of the company's […]

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Big Jump in Food Prices the Latest Suggestion That Inflation is Much Higher Than the Government Says

By William Patalon IIIExecutive EditorMoney Morning/The Money Map Report Prices for food in U.S. grocery stores jumped 6.6% last year – the biggest spike since 1980 – underscoring yet again that inflation is a much bigger problem than government officials, or most economists, say it will be. Of all food categories, prices for cereal and […]

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The Obama Blueprint for Solving the U.S. Financial Crisis

By Jason SimpkinsAnd William Patalon IIIMoney Morning Editors The first 100 days of President Barack Obama's administration officially begin today (Wednesday). But the reality is that President Obama already has a solid head start, as he and his advisor have been working for months to establish the groundwork for one of the most ambitious – […]

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When the Economy Dives, Accounting Fraud Soars, Survey Claims

Money Morning Staff Reports Fraud increases when the economy takes a downturn, which is why nearly two-thirds (63.3%) of executives polled expect accounting fraud to increase during the next two years, concludes a recent online poll conducted by Deloitte Financial Advisory Services LLP. "While fraud is committed during strong economic conditions, it is clearly exacerbated […]

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Fiat Takes 35% Stake in Chrysler, Opens Global Auto Market

By Mike Caggeso Associate Editor Money Morning Fiat S.p.A. (OTC: FIATY) agreed to buy a 35% stake in fledgling Chrysler LLC in a deal that will boost Chrysler's small-car technology and give Italy-based Fiat access to the U.S. auto market. Fiat and Chrysler's controlling shareholder, Cerberus Capital Management LP, signed a non-binding agreement that requires […]

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Global Investment News Briefs

Slim Snags Bigger NYT Stake; India Widens Satyam Fraud Probe; Kirin Expanding Beverage Empire; Citigroup Reaffirms Commitment to Japan; Italian Carmaker Eyes Chrysler Stake; Oil Slips 5.4%; Costa Rica Crushed by Crisis; Brazilian Job Losses Mount; Mexico's billionaire media tycoon Carlos Slim plans to invest $250 million in the New York Times Co. (NYT), The […]

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11 Reasons Why It's Time to Buy China

[Editor's Note: Louis Basenese is the Associate Investment Director of The Oxford Club and a regular contributor to Investment U. He is one of the top analysts and most-sought-after speakers on financial topics in this country. This article first appeared in Investment U.] It's time to make a big bet on China. I know. It's […]

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As New U.S. President Barack Obama Takes Office, He Faces Some of the Toughest Financial Challenges in U.S. History

By Martin Hutchinson Contributing Editor Money Morning/The Money Map Report When President-elect Barack Obama gets sworn into office as the nation's 44th chief executive this afternoon (Tuesday), he inherits a country that hasn't been this badly off financially since the Great Depression. And President Obama can anticipate considerable sleep loss, for the recession-plagued U.S. economy […]

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Ruble Hits 11-year Low As Russia Accelerates Devaluation

By Don MillerContributing Writer Money Morning The Russian ruble fell yesterday (Monday) to levels not seen since the 1998 banking crisis, as the nation's central bank devalued the currency for the sixth time in seven days. The devaluation is seen as a sign of further deterioration in the Russian economy and comes despite government efforts […]

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