China PMI Slides as World Economy Cools
China’s PMI is not a bad marker for global economic activity. That being said, a key measure of it, issued by HSBC, showed a rapid contraction in May. The HSBC Purchasing Managers’ Index fell to…
All Work
Douglas A. McIntyre
What’s Important in the Financial World (5/23/2012) China GDP Trouble, Fiat’s New Car
The World Bank’s new “East Asia and Pacific Economic Update” forecasts that China’s GDP growth will only be 8.2% in 2012, which is a substantial come down for a nation that has grown at or…
CalSTRS: The Dogs Turn on Walmart
The California State Teachers’ Retirement System (CalSTRS), by many measures the second largest pension in the United States, has taken the advice of and has joined proxy advisory firms ISS and Glass Lewis in an effort…
The CBO’s “Perfect Storm” Recession Looks Like EU Austerity
The Congressional Budget Office reports that the U.S. economy could nosedive in the first half of 2013 — unless Congress and the White House keep taxes low and do not cut federal spending too much.…
As Results Fall, How Does Michael Dell Keep His Job?
There are a number of differences between Dell (NASDAQ: DELL) founder and CEO Michael Dell and Facebook (NASDAQ: FB) CEO Mark Zuckerberg. Among them is that Zuckerberg holds shares that allow him to control…
Mazda And Fiat Build A Sports Car
Fiat and Mazda will build a small convertible together. Fiat is the controlling shareholder of Chrysler. The deal is an example of how large car companies which face slow sales in Europe and slowing…
Media Digest (5/23/2012) Reuters, WSJ, FT, Bloomberg
Merkel and Hollande will fight over stimulus for the eurozone at the EU summit. (Reuters) The OECD expresses concerns that Europe could slip into a deep recession. (Reuters) The EU debt crisis pushes global shares lower.…
Getty Images On The Block
PE firm Hellman & Friedman, which owns Getty Images, has begun a process to sell the company it bought for $2.4 billion in 2008. It reckons using investment banks Goldman Sachs (NYSE: GS) and…
Facebook Death Watch: Investigations Mount
The Facebook (NASDAQ: FB) IPO mess has worsened considerably in just 24 hours. The federal government will examine why analysts at Goldman Sachs (NYSE: GS) and Morgan Stanley (NYSE: MS) lowered their financial forecasts…
World Bank Downgrades China Growth
The World Bank’s new “East Asia and Pacific Economic Update” forecasts that China’s GDP growth will only be 8.2% in 2012 which is a substantial come down for a nation which has grown at…
EU Debt Crisis Hammers Markets
Markets across the world were eviscerated as concerns about the financial future of Europe grew. The EU summit may prove to the a battle that will produce further bitterness between the leaders of France and…
Cities With The Most Homes In Foreclosure
According to data released last week, the worst effects of the housing crisis are beginning to wind down. RealtyTrac’s latest report shows the number of foreclosures in the U.S. in April is down 13%…
What’s Important in the Financial World (5/22/2012) IMF Report on UK, ILO Report on Employment
The International Labor Office of the United Nations released its new “Global Unemployment Trends for Youth 2012.” It is one more forecast of a “lost generation” of productive workers. As young people around the…
The Happiest Countries in the World
24/7 Wall St. StaffFor the second year in a row, 24/7 Wall St. examined the Organisation for Economic Co-operation and Development’s report on life satisfaction in the developed world. Economic prosperity, health and a…
Zynga’s 15% Stock Loss — Lemmings over the Cliff
ZyngaZynga’s (NASDAQ: ZNGA) shares are down 15% over the past two days, a little more than those of Facebook (NASDAQ: FB) after its initial public offering. There are several critical difference between the stocks, so…
Tim Cook’s Huge Run at Apple
Tim Cook will never be Steve Jobs, but to investors that should not matter, given how shares in Apple (NASDAQ: AAPL) have done since Cook became CEO. Apple’s stock is up more than 45%…
Media Digest (5/22/2012) Reuters, WSJ, NY Times, Financial Times
Morgan Stanley (NYSE: MS) cuts revenue forecasts for Facebook (NASDAQ: FB) just ahead of its IPO. (Reuters) The U.S. allows China to buy treasuries directly without banker assistance. (Reuters) MF Global paid Jon Corzine $8 million…
IMF Warns On UK Economy
The new IMF report on the UK (“United Kingdom—2012 Article IV Consultation Concluding Statement of the Mission”) has a pessimistic tone. But, the agency believe that the country can help its own cause through…
Microsoft To Sell 350 Million Windows 7 Devices
Microsoft (NASDAQ: MSFT) CEO Steve Ballmer claims that 350 million Windows 7 enabled devices will ship this year. According to Bloomberg, Ballmer claims, “It makes Windows the most popular single system.” Compared to what,…
Fitch Cuts Japan To “A+”
Credit rating agency, Fitch Ratings, cut Japan’s sovereign ratings to “A+”, and posted its outlook as “negative.” It is one in a long line of downgrades in the ratings of large developed nations. The…