Tesco, England's Wal-Mart and the world's No. 3 food retailer, just opened its first six stores in California. An ambitious 800 more are planned to open in the U.S. by 2012. Could this supermarket giant be America's saving grace or the next David Beckham-style crash and burn? Tim Bennet from our U.K. affiliate MoneyWeek Magazine […]
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Stocks Rise as Market Bets on More Rate Cuts
By Jennifer YousfiManaging Editor The market is anticipating another rate cut at the Dec. 11th FOMC meeting – despite Fed Chairmen Ben Bernanke's deliberately neutral remarks in Charlotte, NC this past Thursday. Bernanke acknowledged some weakness in the economy, but reiterated that economic data remains mixed. "We will be receiving a good deal of relevant […]
Motorola CEO Steps Down Amid Tanking Sales and Profits
By Mike CaggesoAssociate Editor Declines in sales and profit have forced Motorola, Inc. (MOT) Chairman and Chief Executive Officer Ed Zander to announce he is stepping down. President and Chief Operating Officer Greg Brown will be his replacement. Zander will step down as CEO effective Jan. 1 and will remain Chairman until the company's annual […]
India's GDP Slows To 8.9%, Signals A "Gentle Softening"
From Staff Reports India's latest economic figures show GDP growth slowed to 8.9% in its fiscal second quarter, down from 9.3% in the previous quarter. However, India's growth still beat analysts' predictions, and the central bank predicts GDP growth for the year to come in at 8.5%, just 0.1% below India's record expansion of 2003. […]
Housing a "Drag" on the U.S. Economy - and May Spur Another Rate Cut
By Jason Simpkins Associate Editor The U.S. economy is showing new signs of weakness, stemming from losses in the housing sector. And that's despite a 4.9% third-quarter surge. Foreclosures increased while home-values plummeted – a trend many experts see continuing well into 2008. New home prices have dropped the most since 1970, and foreclosure filings […]
Citigroup Faces Another Setback as Enron Specter Reemerges
By Jason Simpkins Associate Editor To say that Citigroup Inc. (C) has had more than its fair share of trouble lately might be an understatement. The nation's number one mortgage lender has been devastated by the subprime collapse and struggled to regain its footing since August. But when it rains it pours, and it's pouring […]
Citadel Throws E-Trade a $2.5 Billion Life Raft
By Staff Reports Despite recent financial troubles, E*Trade Financial Corporation (NASDAQ: ETFC) is not going bankrupt. Citigroup Investment Research analyst Prashant Bhatia caused a minor panic (and a 59% sell-off) earlier this month, when his November 11th report on E*Trade stated, "Bankruptcy risk cannot be ruled out." Whatever risk there was earlier this month, it […]
Federal Reserve Hints at December Rate Cut the Day Dismal Housing Statistics are Released. Coincidence?
By Mike Caggeso Associate Editor U.S. Federal Reserve Vice Chairman Donald Kohn – intentionally or not – hinted that another interest rate cut is possible when the central bank's policymaking Federal Open Market Committee (FMOC) meets on Dec. 11. "The degree of deterioration that has happened over the last couple of weeks is not something […]
Stocks Enjoy Their Biggest Two-Day Rally in Five Years
From Staff Reports U.S. stocks experienced their biggest rally in five years yesterday (Wednesday), as browbeaten investors seized on Federal Reserve Vice Chairman David Kohn's suggestion that another rate cut could be in the offing. The Dow Jones Industrial Average soared 331 points, or 2.56%, to close at 13,289.45 yesterday. Combined with a 213-point rally […]
Surging Demand and a Nationwide Shortage: Why India Wants Coal for Christmas
By Jason Simpkins Associate Editor Over the past decade, India has blossomed into an industrial and technological powerhouse. And two of the nation's strongest performing sectors have been steel and power, which have provided resources so vital to India's rapid growth. Unfortunately, those sectors are faced with a major shortage that has restricted their growth […]