Ireland made headlines as the government took control of Allied Irish Banks, which was once the country’s largest. It will have a $4.85 billion injection of cash taken from pension reserves to prevent further loan losses. It will also be delisted on major stock exchanges. This comes as Spain and Portugal’s credit ratings are downgraded [...]
Today, to mark its trading on Wall Street Chief Executive Dan Akerson blew the horn of a 2011 Chevy Camaro SS. It was a propitious blow from one of America’s most famed muscle cars. Yesterday, GM’s first day back on the exchange, saw its IPO range shoot up to $32 to $33 from $26 to [...]
The Fed announced on Tuesday that they will reinvest money from expiring mortgage backed securities into longer term U.S. Treasurys. At present these securities would have shrunk the Fed’s balance sheet. The reinvestment into Treasurys signals that the Fed is comfortable with spending more money for a longer time. Some Fed workers worry that they [...]
The Financial Bill passed 60-39 and has been lauded by many as a responsible piece of legislation, and touted by others as imcomplete. Deregulation and laissez-faire economics have seen and done enough damage for the government to enact its first step towards economic socialism. I’m sure that phrasing made many of you shudder, but what [...]
The Dow was up 2.82% today at 10018.28, the first time it broke 10000 since June 28. After last week, when stocks were at their lowest point this year, this is a welcome rebound. State Street, the world’s second largest custodian bank was up 9.9% as it projected profits well above analysts’. Worries about the [...]
It all started in China, when a revised index scared investors around the globe that one of the economic powerhouses could slow. Then everyone remembered the European debt crisis, and by the time the bell rang in New York, the Dow was below 10,000. By the end of the day it was at 9870.30, down [...]
Private equity firms have billions of dollars to spend – and it’s time they did. Unused money, called in the industry, dry powder, is bad news for hedge funds. Typically these funds last 10 years and dry powder is invested within the first 3 to 5. Either the money must be invested or returned to [...]
Estonia joined the E.U. yesterday, becoming the 17th member. The small Baltic state will switch from the kroon to the Euro on Jan. 1 2011.. There remains mild concern over the sinking currency, as voiced by Dmitri Medvedev. Austerity measures are being enacted all around the Euro Zone – France will up their retirement age [...]
The great CEOs know that in order to be a high-powered executive, you need to stop multi-tasking and tackle one task at a time like a high-powered sniper rifle. But how to stop multi-tasking? A conference call goes long and you start quietly typing out an email. Or you have several windows open on the [...]
The Dow Jones Industrial Average has given up all of the gains it has made this year over the course of the past couple of weeks. Why? Well, in large part due to fears of a Greek default. But that’s not all. When Germany announced last week that it was banning hedging on Euro-zone government [...]
