AFP - Fast asleep in the forests of the Rhodope mountains, this former miners’ town, like a lot of other near-forgotten places in Bulgaria, is hoping for an EU financial kiss to waken from its slumber and start pulling in the tourists.
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AFP - Much has changed at the Frankfurt stock exchange in 20 years but as its Dax index celebrates the milestone it remains the barometer for German economic well-being.
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Reuters - Retailer Steve & Barry’s LLC is
readying plans to close more than 100 of its stores, and is
contemplating a full liquidation should it not find emergency
financing, the Wall Street Journal reported on its website on
Monday.
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Reuters - Most major Asian stockmarkets dipped
on Tuesday as oil and food prices showed no signs of defusing
stagflation fears, particularly with soybean prices at a record
and oil above $140 a barrel.
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AP - Confidence at major Japanese manufacturers fell for the third straight quarter as soaring oil prices and fears of a U.S. economic slowdown weighed on the economy, a central bank survey said Tuesday.
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Reuters - Morgan Stanley recommended investors
buy Lehman Brothers shares, setting a price target of
$31, after the beleaguered investment banking firm’s stock fell
nearly 11 percent on Monday, owing to rumors that it would be
bought out well below its current price.
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Reuters - Chrysler LLC will shut its St Louis
minivan plant, cutting production of its top-selling vehicle
and 2,400 factory jobs in a sign of the automaker’s troubles
with a market reeling from record gas prices.
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Reuters - Florida sued mortgage lender Countrywide
Financial Corp for predatory lending practices on
Monday, alleging the company at the center of the U.S. mortgage
crisis made subprime loans to people who could not repay them.
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Investor’s Business Daily - One of the largest China-focused exchange traded funds is iShares FTSE/Xinhua 25 (NYSEArca:FXI.TO - News). It’s down 12.30% over the last month and 22.74% year to date. The ETF has $6.7 billion in assets.
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Investor’s Business Daily - Every penny a company earns that survives the butcher’s knife of materials costs, wages, taxes and capital spending deserves a place on the mantle.
Original post by Investor’s Business Daily
Reuters - The Dow and S&P 500 were little
changed on Monday on the final trading day of the second
quarter as record oil boosted energy shares, offsetting weak
financial stocks amid nagging concerns of further credit
losses.
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Reuters - Chrysler LLC plans to cut production by
closing a U.S. minivan plant and extending summer shutdowns at
some of its other factories as the automaker battles slow
vehicle sales amid record high gas prices.
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AP - Wall Street ended an arduous first half quietly Monday, closing mixed as investors again based their trades on what has become the dominant force in the market: the price of oil. The major indexes closed out the first six months of 2008 with double digit declines, and are perilously close to the levels of a bear market.
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Reuters - The Dow and S&P 500 were little
changed on Monday on the final trading day of the second
quarter as record oil prices offset weakness in financial
stocks hounded by fears of further credit losses.
Original post by Reuters
Reuters - Ford Motor Co has had
exploratory talks with French automaker Renault SA to
sell Volvo, but the talks ended quickly due to price
differences, sources briefed on the matter told Reuters.
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AP - Wall Street ended an arduous first half quietly Monday, closing mixed as investors again based their trades on what is now the dominant force in the market: the price of oil. The major indexes closed out the first six months of 2008 with double digit declines, and are perilously close to the levels of a bear market.
Original post by AP
AP - Wall Street has ended an arduous first half quietly, with stocks showing mostly modest declines.
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Reuters - Chrysler LLC said on Monday it would
cut production by closing a U.S. minivan plant and extending
summer shutdowns at some of its other factories as the
automaker battles slow vehicle sales amid record high gas
prices.
Original post by Reuters
Reuters - Oil slipped from a record high above
$143 a barrel on Monday as weak U.S. demand countered mounting
tensions between OPEC nation Iran and Israel.
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AP - Interest rates on short-term Treasury bills were mixed in Monday’s auction with yields on three-month bills rising while six-month bills declined.
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Reuters - The Dow and S&P 500 rose on Monday as
record crude oil prices boosted energy shares on the final
trading day of the second quarter, offsetting weakness in
financial stocks amid fears of further credit losses.
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Reuters - Ford Motor Co has had
exploratory talks with French automaker Renault SA to
sell Volvo, but the initial talks broke down due to price
differences, sources familiar with the matter told Reuters.
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AP - Wall Street turned mixed Monday in the final session of an arduous first half, as the price of oil pulled off its high and temporarily relieved some of the market’s inflation worries.
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Reuters - Treasury Secretary Henry Paulson will
reveal more details about his accelerated plans for the Federal
Reserve to assume a larger regulatory role in maintaining
financial system stability in a speech in London on Wednesday.
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Reuters - Chrysler LLC said it scheduled
a briefing on Monday afternoon to discuss an unspecified
“manufacturing action” it plans to take in response to a
slumping U.S. auto market.
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Reuters - Shares of General Motors Corp
tumbled to a 54-year low while smaller rival Ford Motor Co
shares fell as much as 10 percent on Monday on concerns
record oil prices would further hit U.S. demand for vehicles.
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Reuters - The world’s biggest bond fund manager
anticipates that Barack Obama will be the next U.S. president,
and warns that he will face stern economic circumstances.
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Reuters - The U.S. economy continues to bump
along at a slow level of growth but has probably not fallen
into recession, a series of regional purchasing managers’
reports showed on Monday.
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AP - Stocks rose Monday, the final session of an arduous first half, as the price of oil pulled off its high and relieved some inflation worries.
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Reuters - Stocks rose on Monday as record crude
oil prices lifted energy shares on the final trading day of the
month and the second quarter, offsetting a financial sector
sell-off on fears of further credit losses.
Original post by Reuters