China is stepping up its efforts to secure access to more of the world's oil by teaming its China National Offshore Oil Corp. (NYSE ADR: CEO) with the Ghana National Petroleum Corp. (GNPC) to bid for a stake in a giant oil find off West Africa. The bid will compete against Exxon Mobil Corp.'s (NYSE: […]
Archives for October 2009
October 2009 - Page 8 of 11 - Money Morning - Only the News You Can Profit From
Ostrom, Williamson Take Nobel Prize in Economics
American economists Elinor Ostrom and Oliver Williamson today (Monday) were awarded the Nobel Prize in economics. Both have gained widespread acclaim for their respective studies in economic governance. Ostrom, 76, is the first woman to ever win the prize. To earn her share of the $1.4 million (10 million kronar) prize she debunked the long-held […]
Buy, Sell or Hold: HSBC Holdings PLC (NYSE: HBC) Has Absorbed the Financial Crisis' Impact and Is Now Exploiting It
In tough times, the strong get stronger, and HSBC Holdings PLC is (NYSE ADR: HBC) is cherry-picking the world. HSBC is one of my favorite banks in the world. And that feeling is shared. In fact, "the world's local bank," as they like to call themselves, is the largest recipient of deposits in the world. […]
Will Taxpayers Have to Bail Out the FHA?
Government officials testifying before Congress on Thursday staunchly denied that the Federal Housing Administration (FHA) is destined to be the next financial institution to require a taxpayer bailout. But at least one critic testified that the agency is about to burn through its cash reserves in the next 24 to 36 months and will require […]
Here's Why the U.S. Rebound Will Be Stronger Than You Thinkcom
The U.S. economy may be experiencing a "V-shaped" economic rebound. But it's not the conventional V-shaped rebound – where the two sides are about even. We may actually be looking at an extended rebound in which the right (recovery) side of the "V" extends way up high, like a checkmark. Since that is way out […]
With Unemployment Falling, Will Canada Be Next to Raise Interest Rates?
While the U.S. economy is still shackled by unemployment and struggling to emerge from its worst recession in 70 years, Canada is already emerging from the economic downturn. Employment in Canada rose for the second consecutive month in September, as 30,600 workers found jobs. The unemployment rate fell to 8.4% from 8.7% in August. The […]
China Stocks Broaden Appeal with Lower Valuations
After a third quarter that saw China's stocks fall, equities in the world's third-largest economy may now be too cheap to pass up. The Shanghai Composite Index (SSE) was the worst performer among the so-called BRIC nations (Brazil, Russia, India, and China) in the third quarter, falling 6% as Chinese banks pulled the reins on […]
The Two Investing Mistakes to Avoid at all Costs
Two distinct groups of investors have emerged since the U.S. stock market rally began in early March. Initially overly cautious and smug in their desire to protect themselves, the first group of investors were convinced the rally was going to sputter and stall. It hasn't, and 57% later these investors now believe they're getting left […]
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. Alcoa Earnings Rallies Stock; Retailers Post Strong September; Initial Jobless Claims Hit 9-Month Low; ECB and BOE Leave Rates Unchanged; PepsiCo Beats 3Q Estimates; CEO: China Auto Market to Cool; […]
Can Democrats Anchor Unemployment Without Doing More Damage to the Deficit?
With the unemployment rate soaring alongside the U.S. budget deficit, the Obama Administration and congressional Democrats are struggling to solve the nation's problems before next year's midterm election. But they may be struggling in vain. Since 1945, the party that has controlled the White House has lost an average of 16 House seats in the […]