By Mike Caggeso Associate Editor Money Morning A detailed report from the National Association of Business Economics (NABE) says the U.S. economy will recover in the third quarter after a continued contraction in the second. NABE said the near-term setback will be a result of a "sharp retrenchment" in business investment, but the billions in […]
Archives for May 2009
May 2009 - Page 2 of 11 - Money Morning - Only the News You Can Profit From
OPEC to Maintain Production Levels at Thursday Meeting
By Jason Simpkins Managing Editor Money Morning The Organization of Petroleum Exporting Countries (OPEC) will likely maintain its crude oil production quotas at its meeting in Vienna, Austria tomorrow (Thursday). Saudi Arabia's oil minister, Ali Naimi, has indicated that while demand is beginning to pick up, inventories remain dangerously high. Therefore, it would be best […]
Russia Expands Role in U.S. Energy Sector with Uranium Deal
By Jason SimpkinsManaging Editor Money Morning Russia today (Tuesday) will begin selling enriched uranium directly to U.S. utilities, a development that will give the fuel supplier an expanded role in the U.S. energy sector for decades to come. Techsnabexport, a state-owned nuclear energy company, has agreed to sell an undisclosed quantity of enriched uranium to […]
China Seeks to Dethrone the Dollar, Transforming the Yuan into the Dominant Global Currency
China has taken yet another step to transform the yuan into the dominant global currency, a long-term initiative that could ultimately dethrone the dollar as the world's top unit of exchange. In the last four months alone, China has signed currency swapagreements worth more than $95 billion (650 billion yuan) with an array of nations – including: […]
Investment News Briefs
With our investment news briefs, Money Morning provides investors with a quick overview of the most important investing news stories from all around the world. Consumer Confidence Leaps; Hong Kong Injects More Stimulus; Virgin Atlantic Sees Cloudy Skies; South Africa Enters Recession; Experts: Supreme Court Nominee Neutral on Business; Hedge Funds Bet Big on Commodities; […]
Rio’s Deal With Nippon Steel Won’t Set Iron Ore Prices For Chinese Mills
By Don MillerAssociate EditorMoney Morning The iron ore market, which has been roiled recently by rancorous pricing negotiations, found some common ground today (Tuesday), as Rio Tinto PLC (NYSE ADR: RTP) agreed to a 33% price cut in a contract agreement with Japanese steelmakers. Still, the lower prices are under assault by Chinese steelmakers, who […]
First Quarter Housing Prices Fall at Record Pace, Buyers Still on Sidelines
By Mike Caggeso Associate Editor Money Morning Home prices continued their two-year decline in March, with prices down 18.7% for the month compared to last year, and a record 19.1% decline for the first quarter compared with the first quarter last year. All 20 metro areas measured by the S&P/Case-Shiller Home Price Index showed annual […]
As GM Cruises Toward Government Deadline, U.S. Automakers Must Learn to Deal With a Permanently Smaller Market
By William Patalon III Executive Editor Money Morning/The Money Map Report General Motors Corp. (NYSE: GM) is closing in quickly on its June 1 deadline to finish overhauling its operations, or opt for Chapter 11 bankruptcy. Because that deadline is actually one week from yesterday (Monday), analysts and investors will be watching GM closely this […]
Buy, Sell or Hold: General Mills Inc. (NYSE: GIS) is a Wholesome Company with Profit Coming Down the Pipeline
We have been raking in huge profits in all our cyclical and aggressive plays since we called the turnaround in Brazil last October 27: Petroleo Brasileiro (NYSE: PBR) — known as Petrobras – Vale (NYSE: VALE), Apple Inc. (Nasdaq: AAPL), BHP Billiton Ltd. (NYSE: BHP), Research in Motion Ltd. (Nasdaq: RIMM), IBM (NYSE: IBM), Amazon.com […]
Is the Dark Cloud Over Solar Energy Beginning to Break?
By Jason Simpkins Managing Editor Money Morning By sucking the air out of energy prices and sapping private investment, the financial crisis submarined solar energy last fall. But a silver lining has emerged around the dark cloud that has blanketed the sector for so long. Oil prices have recovered, climbing over $60 a barrel, the […]