Today’s Best Market Rumors (5/24/2010)
Updated throughout the day. CBS (NYSE: CBS) and Disney’s (NYSE: DIS) ABC may be sold (NYPost). Barclay’s (NYSE: BCS) Private Equity may be spun out. (Reuters) John Hyman, formerly of Morgan Stanly Group (NYSE:…
All Work
Douglas A. McIntyre
The Twitter-24/7 Wall St. Stock Market Report 5.24 The Wisdom Of Crowds?
Twitter has, by most estimates, 100 million members, which makes it one of the largest social networks in the world. All major media companies are on Twitter and some have more than one million…
BP “Doesn’t Know What It Is Doing”
The US government has readily admitted that it does not have the skill of equipment to stop the oil rising from the wreck of the Deepwater Horizon rig. And, it is beginning to question…
The $123 Billion Tab For Job And Tax Bill
The bill known as H.R. 4213, The American Jobs and Closing Tax Loopholes Act, may clear Congress in the next few days. It would extend eligibility for unemployment insurance benefits, COBRA health care tax…
US Companies Face Debt Crisis As Spreads Widen
Corporate bond sales this month will be the worst since 1999. According to Bloomberg, they will only hit $47 billion, down from $183 billion in April. The borrowing machine that has allowed US corporations…
China: More Double Talk On The Yuan
One of the primary reasons that a delegation led by Treasury Secretary Tim Geithner and Secretary of State Hillary Clinton is in China this week is to discuss fair trade. That means the value…
Media Digest 5/24/2010 Reuters, WSJ, NYTimes, FT, Bloomberg
Reuters: China avoided a commitment on the yuan’s value during talks with the US. Reuters: A Senate committee will look at the UAL (NASDAQ: UAUA) merger with Continental (NYSE: CAL). Reuters: Geithner pushed the…
24/7 Wall St.’s Corporate Power Rankings: Week 19
The 24/7 Wall Street Corporate Power Rankings of the thirty-two most important companies in America are determined by earnings, analyst rankings, important corporate news, trends in each firm’s industry, product introductions, management strength and…
Loop Catches Oil Spill
The NOAA reported that several overflights were conducted today to help researchers forecast the trajectory of the oil spill over the next 72 hours. On one flight, a significant amount of oil was observed…
“Regressive Terminations”: UK May Fire 300,000
The UK government could fire 300,000 people and the number may rise to 700,000, according to the Times of London. The nation has an estimated £156 billion budget deficit. Governments in Greece, Spain, and…
FDIC Bank Closures Hit 73 For 2010
The FDIC total bank closures hit 73 on Friday. Pinehurst Bank, St. Paul, Minnesota, was closed today by the Minnesota Department of Commerce, which appointed the Federal Deposit Insurance Corporation as receive. According to…
Fishing Ban Area’s Massive Increase As BP Spill Expands
The size of the BP plc (NYSE: BP Deepwater Horizon spill is growing rapidly, as some scientists estimate the leak at 95,000 barrels a day instead of the 5,000 barrels estimate given by BP…
TARP Costs Now Only $105 Billion, Thanks To Citigroup (C)
The cost of saving the global financial markets and credit system has come down again. The government’s estimate of the loss on the TARP has dropped $11.4 billion. According to The Treasury Department, “it…
China Gains Another Foothold in Brazil (STO, PBR, SNP, CEO, BP)
Norway’s Statoil ASA (NYSE: STO) has agreed to sell a 40% stake in its deepwater Peregrino field offshore Brazil to China’s Sinochem Group for $3.07 billion. Statoil retains its 60% share and will be…
Today’s Best Market Rumors (5/21/2010)
Update throughout the day. The head of global markets for UBS in Asia is leaving. IFR “Citigroup sold a series of mortgage-linked securities without disclosing that Morgan Stanley helped shape them while betting they…
The Twitter-24/7 Wall St. Stock Market Report 5.21 The Wisdom Of Crowds?
Twitter has, by most estimates, 100 million members, which makes it one of the largest social networks in the world. All major media companies are on Twitter and some have more than one million…
Hong Kong And Singapore Pass US In Competitiveness
For the first time in 16 years, the US is not the most competitive nation in the world. The IMD World Competitiveness Center, which measures 58 economies put Singapore and Hong Kong ahead of…
Dow Moves Back To 10,000
The DJIA is heading back to 10,000 and it may not take long to get there. The index moved into “correction” territory yesterday, down 10% from its peak. Another 1,ooo points and it will…
The FCC Prepares To Beat Down AT&T And Verizon, Lift Sprint
The FCC may try to undo what the free markets have done according to its annual report. It argues that the concentration in the wireless market is rising quickly, perhaps too quickly.
Politicians In Europe Try To Find The Details Of Austerity
Somewhere among all of those hundreds of billions of dollars in budgets from Greece, Ireland, the US, Spain, and Portugal, wasteful spending is hiding. Or, perhaps it is money that is “essential” to the…