Would an IMF-style fund for the EU prevent a repeat of the Greek debt crisis? Not likely.Read More
France's finance minister pushes the PIIGS nations to decrease their debts.Read More
The British prime minister should condemn BA' obnoxious union.Read More
Too bad it's his biggest donor
The shelving of talks on an IMF deal could upset economic recovery.Read More
The Communist dictator stillRead More
haunts Russia's quest for
freedom and dignity.
Mar 17, 2010
The elite are mostly in the Internet and food business, says a Forbes China survey.Read More
Investment Technology Group launches an alternative trading system for Asian investors.Read More
Gamemaker Square Enix wants to be a top global entertainment software company.Read More
Says robust exports, retail sales and industrial production will the economy growing fast, but risks remain.Read More
Paul Krugman's recommended fix for China's currency undervaluation would only make matters far worse.Read More
Christopher Dawson: As promised, here is my second review of a particularly slick (and free) App in Google’s new Google Apps Marketplace. Manymoon is a “Free Social Productivity, Project Management & Task Management” application. First and foremost, this is a lot of tool for the low, low price of free. It’s not going to displace Microsoft Project [...]
Tue Mar 16 22:27:51 PDT 2010
Christopher Dawson: It’s only Tuesday (well, now it’s actually Wednesday here on the right coast, but who’s counting?) and I’m afraid it’s already been a long week. I’m finally getting back to my Apps Roulette reviews of Applications in the Google Apps Marketplace. Tonight I’m going to cover Manymoon, a “Free Social Productivity, Project Management & Task [...]
Tue Mar 16 22:27:41 PDT 2010
Garett Rogers: One of the contributing factors of the buzz-kill around the Nexus One was the phone’s lack of support for AT&T and Rogers in Canada. These carriers use a different frequency for 3G, which makes using the Nexus One on those carriers simply revert back to Edge data. Today, Google announced a new Nexus One that [...]
Tue Mar 16 15:08:17 PDT 2010
Garett Rogers: Today Microsoft announced their Internet Explorer 9 browser, or at least the technology behind it. The User Interface obviously isn’t finished, because they didn’t show anything on that front — just basically the rendering engine. The big feature of their new browser is GPU accelerated HTML5 rendering. Microsoft showed some real-world examples of how [...]
Tue Mar 16 13:32:12 PDT 2010
In an effort to provide our followers with reliable information in all angles affecting the Financial Markets as a whole,FGC BOLSA - FGC FINANCIAL MARKETS has suscribed today, to several newsletters available, " free to the public" that we will posting here. The selection was done following our own criteria and by no means include all information the S.E.C. has available for free distribution. Hope this information that we start republishing now , will contribute to your investments decisions or academic interest.
Fernando Guzmán Cavero
NASDAQ Stock Market LLC (NASDAQ) RulemakingWe encourage the public to submit comments on the following NASDAQ Stock Market LLC (NASDAQ) filings during the comment period. For detailed instructions, please read How to Submit Comments. We strongly encourage you to send your comments electronically.You can find it on the following link:
GovDelivery, Inc. sending on behalf of Securities and Exchange Commission · 100 F Street, NE · Washington DC 20549 · 202-942-8088
Wealthy Still Suckers For Madoff-Style Scams
Social networks continue to trump hardheaded due diligence.
Hank Greenberg Shares The Blame For AIG's Pain
Hailed as a genius of finance, the former head of AIG helped steer the insurance powerhouse into its present sorry state. Boomers Start Downsizing For Retirement
The kids are grown and you're ready to make a move. Here's what to look for--from location, to taxes, to universal design.
How To Start Off Retirement Savings Right
The best retirement savings plan: start early and keep fees low.
Asset Allocation: The Key To Building A Big Nest Egg
A plan you stick to is vital to investment success at any age.
|Evening Market Wrap Wed Mar 17 17:01 2010|| |
Mar 17, 2010 Stocks Rise As Inflation Concerns Remain Subdued - U.S. Commentary Stocks saw moderate strength on Wednesday amid reassurances from the day's producer price data and yesterday's interest rate announcement that inflation remains subdued. The major averages ended the day firmly in positive territory, reaching their best closing levels in over a year. Full Article
Mar 17, 2010 MBA: Mortgage Demand Drops Despite Rates Below 5% Mortgage applications fell last week, dropping back down after two consecutive weeks of gains, despite a decrease in interest rates. Demand for mortgages appeared to be rebounding after hitting 13-year lows in February, but the Mortgage Bankers Association reported Wednesday that overall application volume decreased 1.9 percent last week on a seasonally adjusted basis. Full Article
Mar 17, 2010 Producer Prices Fall At Fastest Pace In Seven MonthsProducer prices fell at a much faster than expected pace in the month of February, according to a report released by the Labor Department Wednesday morning, with the decrease in prices largely due to a steep drop in energy prices. The Labor Department said its producer price index fell by 0.6 percent in February following an unrevised 1.4 percent increase in January. Full Article
Mar 17, 2010 LSI Boosts Q1 Outlook; Approves $250 Mln Share RepurchaseStorage systems and chip maker LSI Corp. (LSI), Wednesday, raised its guidance for the first quarter, citing a strong recovery of enterprise IT spending during the period. The company also said its board has authorized a stock repurchase program of up to $250 million. Full Article
Mar 17, 2010 Derwent London FY09 Loss Narrows; Adj. NAV Down 4.7% YonYReal estate investment trust Derwent London Plc (DLN.L), Wednesday, in its preliminary results for the full year 2009, reported a narrower loss that reflected relatively modest revaluation deficit on investment properties and increased net property income. Adjusted net asset value per share attributable to equity shareholders decreased only 4.7% from the prior year. Full Article
Mar 17, 2010 Northgate Sees Full-year Results In Line With Management ViewVehicle hire company Northgate plc (NTG.L) Wednesday reported an increase in utilization rates for its UK and Spain operations in the four-month-period ended February 28. Issuing an interim management statement for the period from November 1, 2009 to March 17, 2010, the company said that despite adverse economic conditions, it expects full-year results in line with management expectations. Full Article
Mar 17, 2010 Buckle Up : Jury Verdict On VirnetX Is InVirnetX Holding Corp.'s (VHC) long-awaited big news is in. The jury verdict in the patent infringement lawsuit against Microsoft Corp. (MSFT), which was delivered late Tuesday , has gone in favor of VirnetX. VirnetX is a development stage company focused on commercializing a patent portfolio for securing real-time communications over the internet. Full Article
Mar 17, 2010 Siemens To Reportedly Cut 1,000 Jobs, Revamp IT UnitGerman conglomerate Siemens AG (SI) plans to cut at least 1,000 jobs in its SIS information technology business to prepare the unit for a possible sale or initial public offering, according to media reports on Wednesday. Siemens is expected to announce its new plan for SIS to its planning committee on Thursday. Full Article
Mar 17, 2010 Bernanke: Fed Best Equipped To Supervise Large Financial OrganizationsFederal Reserve Chairman Ben Bernanke said Wednesday that there is no other agency that could replicate the "breadth and depth of relevant expertise" that the central bank has in its regulation of the nation's banks and its analysis of systemic risks. Full Article
Mar 17, 2010 Senate Approves $17.6 Billion Job Creation BillThe Senate approved a $17.6 billion jobs creation bill Wednesday, sending it to President Barack Obama, who is expected to sign it into law. The Hiring Incentives to Restore Employment Act was passed by a vote of 68 to 29. The bill is a much smaller version of a $85 billion bipartisan measure that the Senate Finance Committee drafted in February. Full Article
Mar 17, 2010 McMahon Surges Past Former Congressman In Connecticut GOP Senate PrimaryFormer wrestling executive Linda McMahon now leads former Rep. Rob Simmons in the race for the Republican nomination for Connecticut's Senate seat. According to a new poll by Quinnipiac University, McMahon has overcome a 10-point deficit in the polls just two months ago to surge to a 44 to 34 point lead over Simmons. Full Article
Mar 17, 2010 Senate Votes To Reject Temporary Ban On EarmarksSpurning recent efforts on Capitol Hill to limit earmarks, the Senate voted Tuesday to reject imposing a one-year moratorium on funding lawmakers' pet projects. In a 29-68 vote, the Senate blocked efforts by Sen. Jim DeMint, R-S.C., to implement a one-year ban on adding earmarks to bills. Most Democrats and 15 Republicans voted against the ban. Full Article
Mar 17, 2010 McCaskill Calls For End To Pork-Barrel Projects In Transportation BillsSenator Claire McCaskill, D-Mo., sent a letter to Transportation Secretary Ray LaHood Tuesday in which she called for an end to funding pork-barrel projects in transportation legislation. "With our current budgetary situation and the escalating federal debt we can no longer allow the process of earmarking to continue," McCaskill wrote in her letter. Full Article
Mar 17, 2010 Senator Kohl Urges Drug Makers To Explain Why U.S. Prices Are So HighSenator Herb Kohl, D-Wisc., sent letters to the makers of the twelve most-prescribed drugs in the United States Wednesday, asking them to explain why Americans pay around twice as much for prescription drugs as people in other industrialized nations. Full Article
Mar 17, 2010 Poll Shows Obama Not Meeting Expectations On IssuesA new Gallup poll released Wednesday showed that President Barack Obama is not meeting the expectations many Americans had of him on certain issues when he first took office. According to the poll, in 2009, 79% of Americans felt that Obama would do a good job at protecting the environment. Full Article
Mar 17, 2010 Kucinich Announces Intention To Vote For Health Care Reform BillDespite his initial opposition to the health care reform bill, Representative Dennis Kucinich, D-Ohio, announced Wednesday that he will now support the bill, moving the legislation one step closer to passage. Initially, Kucinich said he would not support the bill "unless it had a strong public option and unless it protected the right of people to pursue single payer at a state level." Full Article
Mar 17, 2010 Senate Passes Feingold Amendment To Cancel Old Transportation EarmarksWith earmarks in focus on Capitol Hill in recent weeks, the Senate voted overwhelmingly Tuesday to pass an amendment introduced by Senator Russ Feingold, D-Wis., to cancel old, unspent transportation earmarks. The Senate voted 87-11 in favor of the amendment, which was offered to a bill to reauthorize the nation's aviation laws currently being considered by the Senate. Full Article
Mar 17, 2010 Afghan War To Get Tougher Before Getting Easier: Gen Petraeus A top American Army General says the war in Afghanistan, which has entered its ninth year, will get tougher before it gets easier, as international forces wage a grim struggle to contain a resurgent Taliban in the war-torn, land-locked and mountainous southwest Asian country. Full Article
| Intelligent Investing |
General Electric Is A Buy
It's been a dog for a decade but GE is finally having its day.
With David Serchuk
| Intelligent Investing Panel |
Europe Working To Contain The PIIGS Flu
Greece sneezed and other European nations show flu-like symptoms. Upcoming CDS regulation could put the continent back on its feet.
With Alexandra Zendrian and Morgan Brennan
Video: Intelligent Investing With Steve Forbes
| Intelligent Investing With Steve Forbes|
Fridson Says Don't Be A Bubblehead
Fridson Investment Advisors CEO Martin Fridson says the default rate will go down in 2010.
Real Clear Politics WednesdayDemocrats Consider New Moves for Health Bill - Herszenhorn & Pear, NYT
Health Care Reform Meets the Chicago Way - John Kass, Chicago Tribune
Suddenly the GOP Cares About Process? Please. - Joe Conason, Salon
Democrats Against Democracy - Andrew Cline, The American Spectator
Can Dem Tribes Unite for the Good of the Nation? - Will Marshall, Politico
Good for Pelosi, Not So Good for Her Members - Michael Barone, Examiner
Did Obama Create Conflict w/Israel on Purpose? - Yossi Klein Halevi, TNR
Bibi's Tense Time-Out - Maureen Dowd, New York Times
Israel-Bashing Hillary Loyal to a Fault - Michael Goodwin, New York Post
America's Debt Gets Scary - Charles Gasparino, The Daily Beast
Bankrupting of United States Bonds - Steven Malanga, RealClearMarkets
My Inflation Nightmare - Michael Kinsley, The Atlantic
How Politicians Smother Cities - John Stossel, RealClearPolitics
What Will the Court Be Like After Stevens? - Jeffrey Toobin, New Yorker
Reading Tea Party Leaves - Jonah Goldberg, Los Angeles Times
GOP Faces Off Against Pelosi's HC Deem Team - Dana Milbank, Wash Post
The Failure of RomneyCare - Grace-Marie Turner, Wall Street Journal
Politics Nation: Is New Scrutiny Of Rubio Too Late To Save Crist?
RCP Blog: CT Sen: McMahon Takes Lead | CA Gov: Meg Whitman Surges
|Daily Market Analysis Wed Mar 17 09:16 2010|| |
Mar 17, 2010 Stocks May Attempt To Hold Onto Buying Momentum - RTTNews Daily Market Analysis The major U.S. index futures are pointing to a higher opening on Wednesday, although profit taking over the course of the session may not be ruled out, as the major averages trade near multi-month highs. Markets across the globe rallied sharply, encouraged by indications from central bank officials that they may not be withdrawing monetary policy stimulus any time soon. The U.S. Federal Reserve announced a pause decision yesterday, while also retaining their language on keeping interest rates at extremely low levels for an extended period. Full Article
|Daily Stocks to Watch Wed Mar 17 09:02 2010|| |
Stocks To WatchMar 17, 2010 Vaalco Energy Pumped Up - Stocks To Watch Independent energy company Vaalco Energy Inc. (EGY) returned to profit in the fourth quarter - its second quarterly profit in a row, thanks to high crude prices that boosted revenues by nearly 100%. Interestingly, the company plans to fund its 2010 capital spending with cash and has no debt, despite the capital intensive nature of the business. Net income for the quarter was $2.2 million, or $0.04 per share, compared to year-ago net loss of $7.5 million, or $0.13 per share, while operating income was $17.3 million, compared to an operating loss of $89,000. Revenues almost doubled to $32.6 million compared to $16.5 million last year, on increased sales volumes and significantly higher crude prices realized during the quarter. During the quarter, Vaalco sold 452,000 barrels of crude equivalent at an average price of $72.19 per barrel, compared to 399,000 barrels of oil equivalent at $41.29 in the comparable period last year. The oil exploration and producing company has its o Full Article
|Morning Market Briefing Wed Mar 17 09:01 2010|| |
Mar 17, 2010 Stocks May Open Higher As Optimistic Sentiment Lingers - U.S. Commentary Stocks are poised for a higher open on Wednesday, as traders are digesting producer price data while considering a slew of undercurrents, including healthcare and financial regulatory reform. The major index futures are all in positive territory, with the Dow futures up by 19 points. Full Article
Mar 17, 2010 Producer Prices Fell 0.6% In February, Core Prices Edged Up 0.1% Producer prices fell at a much faster than expected pace in the month of February, according to a report released by the Labor Department Wednesday morning, with the decrease in prices largely due to a steep drop in energy prices. Full Article
Mar 17, 2010 World Bank Raises China's Growth Outlook, Calls For Tighter PoliciesThe World Bank on Wednesday revised up its 2010 economic growth outlook for China and said the country may need to tighten its monetary policy eventually to address risks of asset price bubbles. Full Article
Mar 17, 2010 U.K. Claimant Count Logs Biggest Fall Since 1997The number of Britons claiming jobseeker's allowance decreased at its fastest pace since 1997 in February, as the U.K. economy slowly recovers from its worst recession. Full Article
Mar 17, 2010 BoJ Doubles Bank Lending Program In Split Vote, Maintains Key RateThe Bank of Japan unveiled on Wednesday an expansion to a bank lending operation put in place in December, but the policy board was divided on the decision. Full Article
Mar 17, 2010 Australia Leading Index Points To Above Trend GrowthA leading indicator of the Australian economy surged ahead in January, signaling brisk growth in the coming months. Full Article
Mar 17, 2010 EU Extends Support To Greece's Austerity Measures, Readies Standby Aid PackageEU foreign ministers on Tuesday pledged support to the austerity measures implemented by the Greek government to reduce the country's massive budget deficit, and declared that they have devised a emergency aid package in case Greece requests for financial assistance in tacking the ongoing financial crisis. Full Article
Mar 17, 2010 LSI lifts Q1 guidance; announces $250 mln share buy-backWednesday, LSI Corp. (LSI) raised its first-quarter adjusted profit and revenue outlook, with the mid-points of the ranges being well above the Street view. The company also announced the authorization of a new share repurchase program of up to $250 million shares of its common stock. Full Article
Mar 17, 2010 CIT posts Q4 profit on huge reorganization benefitTuesday, CIT Group Inc. (CIT) posted a profit of $3.2 billion for the fourth quarter. The results included a benefit of $10.3 billion related to reorganization and a charge of $6.1 billion charge arising from fresh start accounting adjustments, or FSAs. Excluding FSAs and reorganization items, the company, which emerged from bankruptcy protection last December, recorded a pre-tax loss of $1.0 billion because of low levels of finance revenue on high borrowing and credit costs. Full Article
Mar 17, 2010 Discover swings to loss in Q1; to repay TARP fundTuesday, Discover Financial Services (DFS) slipped to loss in the first quarter, reflecting the absence of heavy settlement charges related to Visa/MasterCard antitrust lawsuit that hurt year-ago results. Quarterly adjusted loss narrowed on higher card sales volume. Discover also revealed that it got regulatory approval to redeem $1.2 billion worth preferred shares issued to the U.S. Treasury under the Troubled Asset Relief Program. Full Article
Mar 17, 2010 Citigroup’s Primerica to raise upto $290 mln in IPO: reportsWednesday, Primerica Inc., the insurance unit of Citigroup Inc., (C) said it intends to sell 18 million shares in an initial public offering, with a price range of $12 - $14 a share. At the high end of the price range, the total value comes to $290 million. This is in addition to $230 million in stock that private-equity firm private-equity firm Warburg Pincus plans to buy, said media reports. Full Article
Mar 17, 2010 Virnetx wins $106 mln in patent infringement litigation against MicrosoftTuesday, Virnetx Holding Corp. (VHC) said that a jury awarded the company $105.8 million in a patent dispute settlement with Microsoft Corp. (MSFT). Further, the amercement could be tripled if Microsoft is found to have knowingly infringed the patents, said media reports. Full Article
Mar 17, 2010 Hartford Financial to sell $3 bln securities to repay bailout moneyTuesday, Hartford Financial Services Group Inc. (HIG) said it plans to sell securities worth over $3 billion in order to repay $3.4 billion it received under Troubled Asset Relief Program. The caompany said it would issue $1.45 billion of common stock, $500 million in convertible preferred stock, and also $1.1 billion in debt securities. Full Article
Mar 17, 2010 Lilly drugs worth $75 million looted from warehouse: reportsTuesday, burglars broke into Eli Lilly & Co.'s (LLY) Connecticut warehouse and made off with about $75 million in prescription medicines after disabling the alarm system, said media reports. A raging storm and heavy rains seemed to have benefited the thieves in carrying out the heist. Lilly reportedly said it will negotiate with its insurer for coverage of the loss. Full Article
Mar 17, 2010 Staples offers to buy out Corporate Express AustraliaTuesday, Staples Inc. (SPLS) offered to acquire the remaining shares it does not already own in Corporate Express Australia Ltd. for about A$1 billion, said media reports. The company, which already owns a majority 58.6% stake in Corporate Express, offered A$5.60 per share and also a special dividend of 78 Australian cents a share for the outstanding issued capital in the company. Full Article
Mar 17, 2010 Honda recalls 410 thousand vehicles over brake issuesTuesday, Honda Motor Co., Ltd. (HMC) said it will recall about 344 thousand Odyssey vans and 68 thousand Element sport-utility vehicles in the U.S. from the 2007 and 2008 model years, citing consumer complaints on brake-pedal problems. Honda said that over time, the brake pedals can begin to feel "soft", requiring to be pressed closer to the floor to halt the vehicles. Full Article
Mar 17, 2010 GE sees profit in 2011, aims to hike dividendTuesday, General Electric Co. (GE) announced that it is looking for earnings growth in 2011 and also expects to raise dividends during the fiscal year. The company had for the first time in over80 years cut dividend payments last month. Full Article
Todays WS Events
Mar 17, 2010 Kroger To Present At The 2010 Morgan Stanley Retail Field Trip At 8:00 AM, ET Kroger Co. (KR) will present at the 2010 Morgan Stanley Retail Field Trip on March 17, 2010. The event is scheduled to begin at 8:00 AM, ET. To access the live webcast, log on at www.thekrogerco.com/finance/financialinfo_investorconferencecalls.htm
Mar 17, 2010 CIT Group Q4 09 Earnings Conference Call At 8:00 AM ET CIT Group, Inc. (CIT) will host a conference call at 8:00 AM, ET, to discuss Q4 09 earnings results, on March 17, 2010. To access the live webcast, log on at http://ir.cit.com To hear the live call, dial 866-831-6272 (US/Canada) or 617-213-8859 (International) with access code CIT Group. A replay of the call can be heard by dialing 888-286-8010 (US/Canada) or 617-801-6888 (International) with access code 43359771.
Mar 17, 2010 WellPoint 2010 Financial Outlook Conference Call At 8:30 AM, ET WellPoint, Inc. (WLP) will host an Investor conference call at 8:30 AM, ET, to discuss 2010 Financial Outlook on 17th March, 2010. To access the live webcast, log on at www.wellpoint.com To hear the live call, dial 888-423-3268 (US) or 612-288-0329 (International). A replay of the call can be heard by dialing 800-475-6701 (US) or 320-365-3844 (International) with access code 147167.
Mar 17, 2010 Massey Energy Conference Call At 9:00 AM, ET, To Discuss The Acquisition Of Cumberland Resources Massey Energy Company (MEE) will host an Investor conference call at 9:00 AM, ET, on March 17, 2010, to discuss the acquisition of Cumberland Resources. To access the live webcast, log on at www.masseyenergyco.com
Mar 17, 2010 Discover Financial Services Analyst Meeting At 1:00 PM ET Discover Financial Services (DFS) will host an Analyst Meeting, on March 17, 2010. The event is scheduled to begin at 1:00 PM, ET. To access the live webcast, log on at http://investorrelations.discoverfinancial.com/phoenix.zhtml?c=204177&p=irol-IRHome
Mar 17, 2010 HP Annual Meeting Of Stockholders At 5:00 PM ET HP (HPQ) will hold its 2010 Annual Meeting of Stockholders in Mountain View, Calif. The event is scheduled to begin at 5:00 PM ET March 17, 2010. To access the live webcast, log on at www.hp.com/investor/stockholdermeeting2010/webcast
March 17, 2010
How to Double Your Money on Wall Street's "Biggest Lie"
Wall Street's latest lie is the biggest ever... Bigger than 100 Enrons... Bigger than 75 Worldcoms... Bigger than all the Ponzi schemes put together... And even bigger than the trillion-dollar bailout boondoggle that’s supposed to save our crippled economy...
But by understanding this lie - and playing it just right - some investors are about to double their money. Here's a simple way you can join them.
Will Obama's "Soft Money" Fed Lead to Hard Times for the U.S. Economy?
By Martin Hutchinson, Contributing Editor, Money Morning
For a U.S. president, nominating Fed governors is a little like nominating Supreme Court justices: Since they serve a 14-year term, you have the chance to shape the U.S. Federal Reserve for a decade after your administration ends. What's more - even though Fed governors are subject to confirmation by the U.S. Senate - you're far less likely to have trouble getting them through than you do with the Supremes.
That's why U.S. President Barack Obama's current chance to nominate three out of the seven Fed governors is legitimate front-page news - and isn't merely the "inside monetary baseball" trivia that occupies much of the daily business section. Probably two of those three governors still will be serving in 2020, long after President Obama has published his memoirs.
The bottom line: One of President Obama's legacies will be a "soft money" Fed.
To discover the dangers of a "soft money" Fed, read on...
|Hutchinson on... |
- It's Time to Invest in Canada
- European Bailout Fund Proposal ... Just Another Bad Idea
Iron Ore Negotiations Reach an All-Too-Familiar Impasse
By Jason Simpkins, Managing Editor, Money Morning
Iron ore negotiations have ground to a halt - again.
Iron ore producers and consumers were so far apart last year that negotiations on pricing broke down entirely. No price benchmark was reached between major Australian iron ore miners and China's steel mills.
Instead, steelmakers resorted to buying their iron ore from smaller producers on the volatile spot market. And they may have to do the same thing again this year.
That's because iron ore producers - led by Brazil's Vale SA (NYSE ADR: VALE) and Australian juggernauts BHP Billiton (NYSE ADR: BHP) and Rio Tinto PLC (NYSE ADR: RTP) - are reportedly looking for an increase of as much as 90% in the benchmark price.
"The negotiations are difficult. These miners hope for a large rise" in the 2010 benchmark price of iron ore, said Deng Qilin, the chairman of both the China Iron and Steel Association and the Wuhan Iron & Steel Group. "We can't digest the pressure of what they're asking us."
|Money Morning Mailbag |
We'd like to hear from you! If you have an idea that amplifies something you've read in Money Morning, send it to us here to share: firstname.lastname@example.org
"ALL BRANCHES... of our government ARE IN BUSINESS with Wall Street..."
from Money Morning Reader, T.S.
Eurozone Announces Greece Rescue Plan To Encourage Investor Confidence
By Kerri Shannon, Associate Editor, Money Morning
Eurozone countries yesterday (Monday) drew up a rescue plan to safeguard the euro in case Greece defaults on its debt in the hopes of stabilizing its currency.
Broadcasting the fact that Greece's euro partners have drawn up an emergency loan strategy is meant to steady the bond markets and give investors confidence in Greece's ability to pull out of its debt crisis, analysts said. The decision also pressures Greece to rely on its own measures for resolution.
"The objective would not be to provide financing at average Eurozone interest rates, but to safeguard financial stability in the euro area as a whole," the European finance ministers said in a statement.
Read full article...
TOP STORIES | Wednesday , 17 Mar 2010
|A Papua provincial government official says increasing Papua's percentage of Grasberg royalties would help finance the government proposed 9.36% stake in PT Freeport Indonesia without partnerships. Wednesday , 17 Mar 2010|
|Just 700 big sparklers from Lesotho's Letšeng accounted for 78% of Gem Diamond's USD 244m revenues in 2009. Tuesday , 16 Mar 2010|
|At just under five weeks' world mine production the global hedge book is far cry from its peak of 2,064 tonnes at its peak in 2000 Tuesday , 16 Mar 2010|
|Fed-up Mexican mining unions are aiming to hit Grupo Mexico where it hurts the most, convincing institutional investors to divest Grupo shares. Wednesday , 17 Mar 2010|
|Barrick and Goldcorp slug it out over a copper-gold mine, or is it a gold-copper mine? Tuesday , 16 Mar 2010|
|Record highs in euro and sterling terms are indicative of the yellow metal's broadening appeal as insurance Tuesday , 16 Mar 2010|
|Record copper and gold production, as the group continues to expand, also outside Africa, and into serious nickel production from 2012. Tuesday , 16 Mar 2010|
|In a sad war of attrition, touching on insanity, the USD 787m Kolwezi tailings project is despoiled further, this time by a Congolese jungle court. Tuesday , 16 Mar 2010|
|The hay point coal terminal was first closed last Thursday and it has now been decided to keep it shut after news Tropical Cyclone Ului is expected to make land sometime this weekend Wednesday , 17 Mar 2010|
|The US-based coal miner spun off by Rio Tinto said the results were helped by stronger prices from forward sales contracts Wednesday , 17 Mar 2010|
|The group is working to rescue miners trapped by a fall of ground at its Bulyanhulu mine Wednesday , 17 Mar 2010|
|In an interview at last week's PDAC, Rob McEwen restated his forecast that gold will hit $2,000 this year and $5,000 longer term. Monday , 15 Mar 2010|
MINEWEB RADIO >
|THis week James Steel, HSBC precious metals analyst looks at the movement of gold over the last week and the importance of the link between currencies and bullion and the role of soverign risk issues.|
|Frank Holmes talks about the impact of China and India on commodities, what he looks for in a gold miner and what the power outage and earthquakes in Chile tell us about the sector|