By Jason Simpkins Associate Editor Consumer confidence dipped in November, providing the latest bit of conflicting data about the prospects for this year's holiday shopping season. Spiraling fuel costs and dwindling home prices – which have persisted since summer and which aren't expected to improve for the foreseeable future – were blamed for the disappointing […]
Category
Top News
South Africa's 4.7% 3Q Economic Growth Raises Questions About the Country's Prospects
By Mike Caggeso Associate Editor South Africa's economy grew at an unexpectedly brisk 4.7% clip in the third quarter, driven by a 12.5% growth in the finance, real estate and business service industries from last year, a detailed report from Statistics South Africa said yesterday (Tuesday). The economy's third quarter performance was a marked improvement […]
India Government Rejects Citigroup Bid to Boost its Stake in India's Chief Stock Exchange
By Mike Caggeso Associate Editor India's government rejected a bid by Citigroup Inc (C) to raise its equity stake in the National Stock Exchange of India Ltd. from 2% to 5%. Under federal guidelines, foreign investors are allowed to hold up to 5% in an Indian stock exchange, and Citigroup is within those bounds. Nonetheless, […]
It's Not Easy Being Green: Tata Motors Puts the Pedal to the Metal in the Fuel Cell 500
By Jason Simpkins Associate Editor Tata Motors Ltd. (TTM) has an eye on the future – and soaring oil prices in the present – as it prepares a fleet of econ-friendly automobiles that should be ready for action in the decade to come. The new vehicle line would showcase cars capable of running on electric, […]
Virgin Group Wins Government Approval to Buy Northern Rock; Some Shareholders Peeved
By Mike Caggeso Associate Editor Virgin Group Ltd., and a team of investors, have won British government approval to buy troubled lender Northern Rock PLC (PINK: NHRKF), sending the embattled bank's U.K.-listed shares up more than 28% in trading yesterday (Monday). In a statement released by Northern Rock, Virgin's proposal will immediately repay $22.7 billion […]
Algeria Awards $4.1 Billion Worth of Power Plant Contracts; General Electric Part of $2.15 Billion Deal
By Mike Caggeso Associate Editor Algeria kicked off the season of giving before the holidays when the company announced it awarded $4.1 billion in power-plant construction projects to several companies – including a $2.15 billion deal to U.S. industrial giant General Electric Co. (GE) and a $1.98 billion deal to France-based Alstom S.A. – Reuters […]
Boeing and Vietnam have the Billion Dollar Deal
By William Patalon III Managing Editor Money Morning/The Money Map Report The Boeing Co. (BA) has completed deals to sell 12 of its new Dreamliner jetliners to both Vietnam Airlines and to a new Vietnamese leasing company as that Asian country's flagship air carrier moves to end its airliner shortage. Based on published list prices […]
Goldman Sachs Plugs Into India Power-Trading Deal
By William Patalon III Managing Editor Money Morning/The Money Map Report India's finance ministry said it has approved foreign direct investment proposals to allow the U.S.-based Goldman Sachs Group Inc. (GS) and Australia's Macquarie Group Ltd. to invest $39.344 million (1.56 billion rupees) for as much as 40% in PTC India Financial Services Ltd., a […]
Employment Holds Steady Despite Credit Pressures
From Staff Reports Applications for unemployment insurance dropped by a seasonally adjusted 11,000 to 330,000 for the week ended Nov. 17, the Labor Department reported last week. While the report is no indication that the economy is well on its way to recovery, it does suggest that companies aren't resorting to wholesale layoffs as they […]
Canadian Dollar Dances with Dipping Commodities
By Mike CaggesoAssociate Editor The Canadian dollar had possibly the best year of all world currencies. Its performance against the U.S. dollar is one for the record books – on Nov. 7, almost six weeks after eclipsing parity with the U.S. dollar, the loonie peaked at $1.0837 against the U.S. dollar, a 27% year-to-date appreciation […]