Eurozone Nations Can Bail out Their Banks Or Greece
There are several reports that Evolution Equities and Barclays have estimated the cost of a Greek default to Europe’s banks over three years . One of the reports, from the Guardian, says that the…
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Douglas A. McIntyre
Spanish Unemployment Moves Above 20%, Europe Numbers Not Credible
Spanish unemployment was higher than estimated in the first quarter which means that its credit crisis may be getting worse more quickly then believed. Information from Spanish newspaper ABC.es and translated by Zerohedge says that…
Media Digest (4/29/2010) Reuters, WSJ, NYTimes, FT. Bloomberg
Reuters: Hewlett-Packard (NYSE: HPQ) will gamble on the smartphone industry with its buyout of Palm (NADSAQ: PALM) Reuters: The oil spill from a BP plc (NYSE: BP) rig is close to shore. Reuters: Obama picked…
Fear Grips Europe as Greek Crisis Threatens to Spread
By Heather Horn Yesterday, Standard & Poor’s again downgraded Greece’s debt, this time to junk level, and downgraded Portugal’s as well. Stock markets across Europe dove on the news, confirming fears of bearish analysts…
Today’s Best Market Rumors
Updated throughout the day. Sinopec (NYSE: SNP) will sell $2.93 billion in bonds (WSJ) Research-in-Motion (NASDAQ: RIMM) has set a goal of 100 million customers worldwide (Globe & Mail) Douglas A. McIntyre Sponsor: 26…
The Twitter-24/7 Wall St. Stock Market Update 4.28 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 Faces Investigation Over Rig Disaster, May Burn Oil Slick
BP plc (NYSE: BP) does not have much choice. It said it will cooperate with a US government investigation into the cause of the disaster at the Transocean drilling rig Deepwater Horizon in Mississippi Canyon Block…
Yet Another Delay By Boeing
Problems with supply chain and parts shortages have caused Boeing (NYSE: BA) to yet again delay building some of its 787 Dreamliners . The company said it would halt the building of the 23rd and…
How The Greek Debt Problem Can Be Fixed
Update: The German opposition Green Party said that the Greek bailout could cost 120 billion euros. The yield on Greek two-year bonds rose to 13.5% as S&P cut the credit rating of the nation’s sovereign debt…
Media Digest (4/28/2010) Reuters, WSJ, NYTimes, FT, Bloomberg
Reuters: The Fed will probably say it will keep rates low. Reuters: Republicans have come up with their own bank reform plan. Reuters: Wellpoint says it will stop dropping patients. Reuters: Oil continued to…
The Worst CEOs In American History
The age of the American CEO did not begin until the end of the 19th century. Prior to that time, all the largest businesses in America were run by owners and families acting as…
Financial Leaders Worry About Future, Do Nothing
Peter Peterson, who founded Blackstone and is on all the billionaire lists, started his own charity, The Peter G Peterson Foundation. Much of the work that the organization does involves getting opinions from the…
Google Losing Chinese Market Share Isn’t the Problem
This morning Goldman Sachs removed Google Inc. (NASDAQ:GOOG) from its ‘Conviction Buy’ list and Google shares are up slightly today though still down around 15% since January. Credit Suisse, at the same time, downgraded…
S&P Downgrades Portugal, Greece Cut To Junk
In another sign that the sovereign debt problem in Europe could spread beyond Greece, S&P downgraded the debt of Portugal by two levels to A- from A+. Greece’s debt was simultaneously cut to “junk” on concerns that…
The Month’s Biggest Index Gainers: Broadcast TV, Vehicle Rental, and Radio Stocks
There were strong gains in three Tickerspy indexes over the most recent 30-day period. This month’s biggest gainers are in broadcast TV, vehicle rental, and radio stocks. Broadcast TV stocks are up 30.8% in the past month. The best…
Derivatives Matter As Part Of Finance Reform
By Max Fisher, The Atlantic Wire Derivatives, a special kind of investment, played a key role in the financial crisis and generated $20 billion for Wall Street last year. They are also central in…
Case-Schiller Home Data Goes Up–To Zero
The S&P-Case-Schiller housing data for February looked good year-over-year. Otherwise, most of the numbers were relatively poor. The research showed that “the annual rates of decline of the 10-City and 20-City Composites improved in…
Today’s Best Market Rumors
Updated throughout the day. UAL (NASDAQ: UAUA) and Continental (NYSE: CAL) are fighting over the respective value of their companies as they attempt a merger. A class action suit brought by female employees against Walmart (NYSE:…
The Twitter-24/7 Wall St. Stock Market Update 4.27 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…
The Global Imbalance Myth
By John Tamny of Forbes A popular opinion held by economists and writers is that “global imbalances” caused the global financial crisis. Ben Bernanke unsurprisingly embraces this fallacy with great vigor, as does Bank…