The U.S. government needs to start using more of its money to support markets to stem a burgeoning ``financial tsunami,'' according to Bill Gross, manager of the world's biggest bond fund.MO: FORBES - 09-05 05:51 PM
Altria may be calling reports of its pending acquisition of UST "pure speculation," but that isn't stopping Wall Street from cheering. ...
Informa pays penalty for rejecting latest buyout bid
EUROPE: London Times - 09-05 05:50 PM
Investors in Informa, the publishing and events group, expressed mixed feelings yesterday after its board rejected the latest private equity bid. There was nothing mixed about the reaction on the market, however, the shares slumping 28¾p, or nea ...
New York Times to consolidate paper's sections
NYT: Reuters - 09-05 05:48 PM
The New York Times Co plans to consolidate some sections in the metropolitan edition of its namesake newspaper to reduce costs, the publisher said on Friday. ...
Blackstone, KKR eye Lehman assets
LEH: Reuters - 09-05 05:47 PM
Blackstone Group LP and Kohlberg Kravis Roberts & Co are each looking to buy parts of Lehman's real estate and asset management units, sources familiar with the situation said on Friday, sparking a broad rebound in financial stocks. ...
Treasury near GSE bailout plan: report
FNM: Reuters - 09-05 05:47 PM
The U.S. Treasury Department is close to finalizing a plan to buttress mortgage finance companies Fannie Mae and Freddie Mac, the Wall Street Journal reported on Friday ...
Treasury Plans To Back Up Fannie, Freddie
FNM: CNBC - 09-05 05:45 PM
CNBC: The Treasury is finalizing plans to backstop Fannie Mae and Freddie Mac, the mortgage financing giants that have been struggling with billions of dollars of losses from soured loans, the Wall Street Journal reported Friday. ...
Yen Posts Weekly Gains on U.S. Job Losses, Global Economic View
FOREX: BLOOMBERG - 09-05 05:44 PM
The yen posted its biggest weekly gain against the dollar since May and touched a one-year high versus the euro after the U.S. lost jobs for an eighth month and investors sold higher-yielding assets funded in Japan. ...
Sugar Falls in New York as Dollar Gains, Commodities Slide
COMMOD: BLOOMBERG - 09-05 05:43 PM
-- Sugar fell in New York, declining for a second straight week, as the stronger dollar reduced the appeal of commodities as an inflation hedge. ...
Corn, Soybeans Decline as Investors Reduce Commodity Assets
COMMOD: BLOOMBERG - 09-05 05:41 PM
Corn and soybeans fell the most in more than three weeks speculation that slowing global economies will reduce investment demand for commodities as a hedge against inflation. ...
Gold Falls as Dollar Strengthens; Silver Drops to One-Year Low
COMMOD: BLOOMBERG - 09-05 05:41 PM
Gold fell as the dollar strengthened, eroding the appeal of precious metals as alternative assets. Silver plunged to the lowest in a year. ...
Copper Falls, Capping Biggest Weekly Decline Since January 2007
COMMOD: BLOOMBERG - 09-05 05:39 PM
Copper tumbled, capping the biggest weekly drop since January 2007, as climbing stockpiles and slowing global growth signaled demand for the metal may decline. ...
Oil Falls to Five-Month Low on Dollar Gain, U.S. Jobless Rate
COMMOD: BLOOMBERG - 09-05 05:38 PM
Crude oil fell to a five-month low as the dollar climbed and U.S. unemployment rose more than expected, signaling a slowdown in demand. ...
Catastrophe Bonds Fall for First Time Since March on Hurricanes
BONDS: BLOOMBERG - 09-05 05:37 PM
Catastrophe bonds, used by investors to bet against natural disasters, fell for the first time since March as Hurricane Gustav lashed Louisiana, Tropical Storm Hanna headed for the Carolinas and another storm, Ike, approached Florida. ...
U.S. Stocks Advance as Rally in Banks Overshadows Drop in Jobs
MARKETS: BLOOMBERG - 09-05 05:36 PM
-- U.S. stocks gained, paring the worst weekly loss for the Standard & Poor's 500 Index since May, on speculation Lehman Brothers Holdings Inc. will raise capital and investor Barton Biggs' prediction the market is near a bottom. ...
Scheme to defraud AIG may have caused $1B loss
AIG: CNNMoney.COM - 09-05 05:36 PM
Federal prosecutors in Connecticut say a scheme to manipulate the financial statements of the world's largest insurance company, American International Group Inc., resulted in a loss of more than $1 billion. ...
Treasuries Drop on Speculation of Government to Assist Agencies
BONDS: BLOOMBERG - 09-05 05:35 PM
Treasuries fell amid speculation the U.S. is close to reaching a plan to help troubled mortgage finance companies Fannie Mae and Freddie Mac, easing the haven appeal of government debt. ...
Treasury near plan for Fannie and Freddie
FNM: CNNMoney.COM - 09-05 05:28 PM
Wall Street Journal reports that Treasury could announce a backstop for troubled mortgage buyers and senior management changes as soon as this weekend. ...
Merrill Trims Ests On 10 Contract Chip Makers
SMI: BARRON'S - 09-05 05:27 PM
(TSM UMC SMI CHRT SPIL ASX) Given mounting evidence of weakness in the chip sector, you can imagine some difficult times ahead in the contract fab business, as well. And that explains today’s move by Merrill Lynch analyst Daniel Helyer, who cut ...
Robert Shiller on the Real Estate Crisis
CREDIT: U.S. NEWS & WORLD REPORT - 09-05 05:15 PM
Home price declines are already approaching those in the Great Depression, when they plunged 30% during the 1930s. With prices already down almost 20%, it's not a stretch to think we might exceed that drop this time around. There are about 10 million ...
Regulators Tell Downey Financial To Raise Capital, Hire CEO
DSL: WALL STREET JOURNAL - 09-05 05:12 PM
Federal banking regulators are clamping down again on Downey Financial Corp., owner of a struggling California savings-and-loan that has been battered by its large exposure to adjustable-rate mortgages, according to people familiar with the matter. T ...
Why sterling is getting a real pounding
FOREX: TIME ONLINE - 09-05 05:08 PM
Against the euro, the pound is at its weakest since the single currency was launched almost ten years ago. A euro now costs almost 82p and that's in the wholesale markets. A sinking pound keeps exports competitive, keeps tourists flooding in and help ...
Winds and rain battering Britain
EUROPE: BBC News - 09-05 05:03 PM
The Environment Agency says there are 34 flood warnings currently in force in south and west Wales and the south-west of England, two of them severe. ...
Stocks mostly rise as investors snap up financials
MARKETS: AOL - 09-05 04:54 PM
Advancing issues narrowly outnumbered decliners on the New York Stock Exchange. The Dow Jones industrial average rose 32.73, or 0.29 percent, to 11,220.96; the blue chips had been down 150 points at their lows of the session. The Standard & Poor' ...
Oxford Club bet on Buffett: A 'no-brainer'
BRKA: AOL - 09-05 04:51 PM
In the Oxford Insight, the Oxford Club Investment Director explains, "It is now time to buy the 'ultimate no-brainer'." Here's his assessment. ...
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