Source: CNN
It's been another banner year for Goldman Sachs employees. The venerated Wall Street bank spent $20.2 billion this year on employee salaries and bonuses, up 23 percent from $16.4 billion last year, the company said when it reported strong fourth-quarter results Tuesday.
Source: The New York Times
Best Buy continues to stretch the separation between itself and the trailing horde of consumer electronics retailers. The recent collapse of CompUSA can certainly be attributed to the new paradigm of supply created as a result of Best Buy's success.
Source: businessspectator.com.au
The predicament Perpetual Investments found itself in last month when it was forced to downgrade its earnings forecast because of problems within a single cash fund is a reminder that not all 'defensive' asset classes are safe havens.
Source: abc.net.au
The Australian share market is likely to come under further selling pressure today after more jitters on Wall Street forced share prices on the New York Stock Exchange to slump more than 1 per cent.
Source: MoneyWeek
The US experienced its own Northern Rock moment recently as over $13bn was withdrawn from Florida's state-run investment pool. Could such a panic actually be the best time to buy in?
Source: MoneyWeek
After a long house price boom, it's only now that banks are starting to uncover fraud. The truth, of course, is that banks are only 'discovering' mortgage fraud now, because they need excuses to refuse as many applications as possible.
Source: crikey.com.au
The Melbourne suburb of Glen Waverley, home of Centro Properties and The Glen shopping centre, has today assumed a prominent role in the global credit crunch when a series of shock announcements caused the destruction of $5 billion in largely Australian savings in one morning.
Friday was another losing day for Wall Street. The DJIA finished down 178 points and other major averages followed suit as rising inflation indicators sparked fears that the Federal Reserve Board may have no further room to lower interest rates.
This is one of the first articles I wrote for Newsvine (and one of my best if I do say myself).
US equity markets finished mixed on Thursday, following Wednesday's "dead-cat bounce" from the sharp decline after the Fed intervention on Tuesday. The credit crunch continues to be a major concern for investors, along with today's announcement of growing inflation.
Source: http://www.badcreditloanservices.com/article/2565/
Those who are starting on the film and movie industry often run into an obstacle that is very hard to overcome: The lack of funding.
Source: The Indianapolis Star
The top college endowments have more assets than the nation's largest foundations, yet are not required to pay out as much money...see my blog for more.
Source: openDemocracy.net
The scale of global debt reflects a broken financial and commercial system that is doing immense damage to the planet and to public life, says Ann Pettifor
Source: Investor's Daily Edge
Congress is obligated to provide sound money to the American people. They abdicated that task in 1913. We don't need Congress managing the economy any more than we need the Fed to do it. They'd screw it up even worse, as unimaginable as that is.
Source: TED.com
Energy guru Amory Lovins lays out his plan for weaning the US off oil and revitalizing the economy in the process.
Source: Salon.com
A thoughtful examination of the problems confronting both investors and managers as they struggle to make US business "greener." Especially interesting for its argument that fiduciary investment vehicles (e.g., pension funds and mutual funds) need to broaden the scope of their c …
Source: MoneyWeek
The Federal Reserve has cut rates as expected, but falls in US stocks suggested investors wanted more. It's time they realised that rate cuts can't solve the market's problems.
Source: MoneyWeek
The real image of Christmas in the US will be of shoppers pulling out the last card they haven't maxed out, for one last binge before recession hits...
Source: MoneyWeek
November was an ugly month for markets, but the future may be a little brighter. Niels C. Jensen of Absolute Return Partners LLP explains the recent market behaviour - and what we can expect in 2008.
Source: MoneyWeek
No one can deny the housing market's in trouble - and no one's trying to anymore. Instead, everyone's clamouring for rate cuts. Unfortunately, we're doomed regardless of what the bank does.
Tuesday was a disastrous day for US equity investors, as the DJIA shed more than 300 points immediately following the Fed announcement of a rate cut of 25 basis points. Many persons, probably including FOMC members, looked for the market to climb on this word of credit easing.
Source: businessspectator.com.au
The bomb in yesterday's speech by RBA governor Glenn Stevens is that market-generated tightening may take care of the inflation problem.
Source: US News & World Report
They're not making it easy. As the few weeks left for moves to trim your 2007 income tax evaporate, changes in what the feds allow can upset long-standing plans, while new record keeping can mean more paperwork. And some breaks may be expiring.
We watched Babel last night. Without spoiling anything for anybody who hasn't seen this excellent film, let's just say that its point seems to be that people are basically good, but foolish.
Source: Australian News Network
THIS week's announcement by the Singapore Government's Investment Corp that it will inject almost $US10 billion ($11.3 billion) into Swiss-based global bank UBS represents another step in the accelerating shift in financial power from West to East.