From Staff Reports Germany could take a direct stake in the problem-plagued European Aeronautic Defence and Space Co. NV aerospace group – the parent of airliner builder Airbus SAS – in 2010, a German official said Tuesday. Germany would replace a consortium made up of German states and investors, Germany’s Deputy Economy Minister for Aerospace […]
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EU Presses for More Energy Control
By Jason SimpkinsStaff Writer The European Commission yesterday (Wednesday) introduced a plan calling for a massive restructuring of power grids throughout the continent. The plan was designed to reduce the region’s vulnerability to the massive energy companies that control the production and transmission of gas and electricity. Currently, large energy companies monopolize energy production and […]
SK Group Getting Huge Boost From Asian Expansion
From Staff Reports SK Engineering & Construction, an affiliate of South Korean industrial conglomerate SK Group, has been turning its focus away from its small peninsula to the expanding economies of India, Singapore, Indonesia and Thailand, where industrial plants are popping up at rapid pace. Earlier this month, SK E & C reached a deal […]
Honeywell Snags a $16 Billion Contract for Airbus' A350 aircraft
From Staff Reports Honeywell International Inc. (HON) announced yesterday (Wednesday) that it won a $16 billion contract to provide mechanical systems for Airbus SAS’s long-range, wide-body A350 aircraft. The 20-to 25-year contract will give New Jersey-based Honeywell, the world’s biggest maker of auxiliary power generation units, clearance to design and build systems that supply pneumatic […]
South Korean Government Imposes Discounts on Mobile Phone Subscribers
From Staff Reports SK Telecom (SKM), a SK Group subsidiary, took a cue from the U.S.-based Verizon Communication Inc. (VZ) by lowering rates for calls made from one SK Telecom subscriber to another — providing they agree to a 2,500 won ($2.70) increase in their monthly bill. SK Telecom is the largest mobile carrier in […]
Super-Sized Rate Cut Spurs Super-Steep Rally; Dow Soars Nearly 336 Points
By Jason Simpkins Staff Writer When it came right down to it yesterday (Tuesday), U.S. investors awaiting a central bank decision on short-term interest rates investors were expecting the standard Value (investing) Meal. But U.S. Federal Reserve policymakers surprised them with the Happy Meal instead. The result: A Super-sized stock surge, representing the biggest single-day […]
Tough Talk Over Iran Could Lead to a Total Withdraw
By Jason Simpkins Staff Writer Tensions continue to escalate between France and the Islamic Republic of Iran. Months after President Nicolas Sarkozy followed the lead of the United States in calling for a tougher line against Iran, France’s Foreign Minister has gone a step further. One of France’s most popular politicians, Bernard Kouchner indicated Sunday […]
Brazil Aims for 5% Annual Growth
From Staff Reports Brazil’s retail sales rose 9.2% in July from a year ago, said to the national statistics agency. According to a report released Tuesday in Rio de Janeiro, the gain in retail, supermarket, and grocery sales was less than the revised 11.3% increase in June. Brazil's economy expanded 5.4% in the second quarter […]
Broadcasters Cite Money Morning Stories on So-Called Doomsday Trade
From Staff Reports Over the past week, several radio broadcasters have cited Money Morning’s reporting on the $900 million ‘Mystery Trade,’ which continues to garner significant attention. When ‘Air America Radio’s’ Radio’s popular new coast-to-coast program “Clout” was researching a story on the ‘Mystery Trade’ in Standard & Poor’s 500 Index options S&P 500 Index […]
China Sends Pork Packing, Escalating U.S. Trade Dispute
By Jason Simpkins Staff Writer Clearly agitated by controversy related to the safety of its exports, China is striking back. Early this week, Beijing rebuffed shipments of both Canadian and American meat products, citing safety concerns. Shipments of pork kidney from the United States and spare ribs from Canada were rejected, after Chinese authorities found […]