By Bob Blandeburgo Associate Editor Money Morning European payrolls suffered their worst decline on record in the first quarter, and pending job cuts in that region's auto and airline sectors means those losses could worsen going into 2010. For the 16 countries that use the euro, a record 1.2 million workers – 0.8% of the […]
Archives for June 2009
June 2009 - Page 6 of 11 - Money Morning - Only the News You Can Profit From
G8 Finance Chiefs Express Cautious Optimism About the State of the World Economy
By William Patalon III Executive Editor Money Morning/Money Map Report Top financial officials from the Group of Eight (G8) industrialized nations on Friday issued an upbeat evaluation of the global financial crisis, describing signs that markets were stabilizing around the world and warning that it was necessary to devise “exit strategies” to disengage from stimulus […]
Consumer Confidence, Retail Sales Grow
By Bob BlandeburgoAssociate EditorMoney Morning Are consumers' happy days here again, or are the recent signs that growth in sales, confidence and an overall improvement in the economy just a mirage? Confidence among U.S. consumers rose this month for a fourth straight time, according to the Reuters/University of Michigan (UM) preliminary index of consumer sentiment. […]
Buy, Sell or Hold: Time to Take Profits on Diamond Offshore Drilling (NYSE: DO)
On Monday March 9, barely three months ago, I strongly recommended buying Diamond Offshore (NYSE: DO) as part of Money Morning’s “Buy, Sell, or Hold” feature. Both the stock and the Standard & Poor’s 500 Index had both hit 52-week lows the Friday before. But oil had already bottomed three weeks prior, and the lax […]
BlackRock to Become the World's Largest Money Manager with Purchase of Barclays Fund
By Jason SimpkinsManaging EditorMoney Morning BlackRock Inc. (NYSE: BLK) yesterday (Friday) announced that it will pay $13.5 billion for Barclays Global Investors (BGI), Barclays PLC's (NYSE ADR: BCS) investment unit. The deal makes BlackRock the largest money manager in the world with a combined market value of about $34 billion. The purchase will include $6.6 […]
How China Could Rescue General Motors
[Editor’s Note: This is the second of two parts. See Part I by clicking here.] By William Patalon IIIAnd Jason SimpkinsMoney Morning Editors For anyone who still disputes that we’re operating in a global economy these days, consider this bit of business irony: The long-term survival of America’s biggest car company could depend on how […]
Investment News Briefs
With our investment news briefs, Money Morningprovides investors with a quick overview of the most important investing news stories from all around the world. Survey: Americans Still View Manufacturing as Backbone of Economy; Mortgage Rates Highest Since November; Initial Jobless Claims Drop; Highest Treasury Yields in Two Years Draws Investors; Palm CEO Swap Sends Stock […]
Economic Indicators Remain Mixed, But are Showing Improvement
Money Morning Staff Reports A new economic index predicts that the current recession will end in September and be followed by a mild recovery – the latest in a series of upbeat reports that have helped prolong a strong run-up in U.S. stock prices. This latest indicator – the USA Today/HIS Global Insight Economic Outlook […]
With Rio Tinto's Snub of Chinalco, Aussie Backlash Against China's New Capitalists Continues to Escalate
By Jason Simpkins Managing Editor Money Morning Australia defied the global trend in the first quarter, recording a 0.4% year-over-year rise in gross domestic product (GDP). Of course, Australia’s economy didn’t shrug off the global economic downturn all by itself. It got a very big helping hand from China, a country whose growing influence in […]
Initial Unemployment Claims Fall, But Overall Claims Continue to Climb
By Bob Blandeburgo Associate Editor Money Morning In a continuing sign the economy is slowly recovering, the number of initial unemployment benefit claims was lower than analysts' estimates. The number of claims fell by 24,000 to a seasonally adjusted 601,000 for the week ended June 6, according to the U.S. Department of Labor. Analysts were […]