Unemployment Hits 5% in Hong Kong; More Layoffs at Caterpillar; German Investor Confidence Rebounds; Lehman Auctioning Units; AIG Blows it Again; Bank Fiesta; Shell Pumps More Oil; Madoff Victims Get Tax Break Unemployment rose to 5.0% February in Hong Kong, up from the 4.6% in January and a 32-month high. The government recently announced a […]
Archives for March 2009
March 2009 - Page 6 of 12 - Money Morning - Only the News You Can Profit From
Rio Tinto Appointment Fails to Calm Merger Fears in Australia
By Don MillerAssociate EditorMoney Morning Rio Tinto PLC (ADR:RTP) appointed a new chairman yesterday (Tuesday) in what was seen as an effort to calm political turmoil in Australia over its $19.5 billion tie-up with China's Aluminum Corp. of China Ltd. (ADR: ACH), also known as Chinalco. Rio entered the agreement with Chinalco in February to […]
Housing Starts Rebound, Producer Prices Slide in February
By Mike Caggeso Associate Editor Money Morning A pair of crucial economic indices seesawed in February, helping some analysts to see the light at the end of the tunnel. The rate of housing starts jumped 22% from January to February, with work beginning on an annual rate of 583,000 homes, the Commerce Department reported. Construction […]
Seven Ways to Get an Income-Tax Boost From the Obama Recovery Plan
So what will $800 billion buy these days? At the macro level, the Obama administration's rescue plan will buy some new roads and bridges, 3.5 million new jobs and, hopefully, an economic recovery in the process. On an individual level, the benefit will come from the mix of tax benefits that are part of the […]
“Shadow Fed” Casts a Shadow Over the Solvency of the U.S. Banking System
It's called the "Shadow Fed." And it's the next potential hot spot in the ongoing financial crisis. But few outside the Federal Home Loan Bank system, the Federal Deposit Insurance Corp. (FDIC) the U.S. Federal Reserve and the U.S. Treasury Department are remotely aware of the problems that are smoldering. The Federal Home Loan Bank […]
Global Investment News Briefs
C.H. Robinson Stock Moving; Report: Rough Year Ahead for Latin America; Foreign Direct Investing in China Falling; Seattle Post-Intelligencer Goes Online-Only; U.S. to Seize $100 Million From Madoffs; Foreigners Tossing Treasuries; MGM Antes Up Shares of C.H. Robinson Worldwide, Inc. (CHRW) climbed as high as 4.8% in trading yesterday (Monday) before closing at $44.03 a […]
G20 Meeting Fails to Resolve U.S.-Eurozone Spending Conflict
By Don Miller Associate Editor Money Morning Finance ministers and central bankers from the Group of 20 nations, which account for more than 80% of the world economy, promised at a meeting Saturday to do "whatever is necessary" to fix the global economy. However, Eurozone officials continued to put off a U.S. push for more […]
Barclays Pressured to Offload Trillions in Assets to Stave Off Government Ownership
By Mike Caggeso Associate Editor Money Morning Barclays PLC (ADR: BCS) today (Monday) confirmed that it is trying to sell its iShares unit, and is talking to a handful of potential suitors. In the same release, U.K.-based Barclays also said it is talking with the Treasury and Financial Securities Authority about possible participation in the […]
Natural Gas Prices Could Double as Energy Majors Scale Down Supplies
By Jason Simpkins Managing EditorMoney Morning After an unparalleled fall, natural gas prices could double by next year, as a growing number of idle rigs create a supply crunch. Natural gas prices have tumbled by about 30% this year, as a steep drop in industrial consumption has undermined demand. However, many of the traders and […]
Will Last Week's Rally Carry Over?
By William Patalon III Executive Editor Money Morning/The Money Map Report Is it a bull-market rally or a bear-market fake? It came right down to the wire, but the Dow Jones Industrial Average ended the day Friday with its first four-day rally since November, ending the week with a gain of 9.0%. And despite that […]