How is that for reform ?
Comments »Monthly Archives: June 2012
Chesapeake and Encana Plotted to Suppress Land Prices
RIM is Contemplating Splitting the Company in Two
“BlackBerry maker Research in Motion is considering splitting its business in two, separating its struggling handset manufacturing division from its messaging network, The Sunday Times reported.”
Comments »Apple’s new Maps to feature built-in $YELP check-ins
Apple’s newly redesigned Maps application in iOS 6 will feature built-in support for users to check in with the social service Yelp, according to a new report. Read more
PIIGS Was Sooooooooooo Yesterday…Tomorrow it Could Be France
Feel the gravity of Europe’s woes as France is on deck for debt problems unless the EU decides to create a banking union.
Full article
Comments »FLASH: EUROPEAN INDICES ARE GETTING FUCKED UP
Do Not Expect Tax Receipts to Help Out Greece
“Greece is struggling to cope with a collapse in corporate tax receipts, according to the latest figures from the Greek finance ministry.
The steep fall in corporation tax income – from €737m (£590m) between January and May 2011 to €448m in the same period this year – is likely to weigh heavily on the new coalition government as it prepares for a European summit later this week.
Without the ability to tax company profits, the government will be forced to step up its demands on households for tax income at a time when most families are already suffering cuts in wages and falling living standards.
The figures will also undermine the message from Greek leaders that the new government is capable of arresting the country’s decline and paying the interest on a new tranche of debt funding from Brussels.”
Comments »Jimmy Carter Stands Up for Human Rights
Stock Market Trivia: Guess Which European Yields Are Higher This Morning?
An Interview With German Finance Minister Schauble
Here is a recent interview to get a little more understanding of what Germany is thinking ibn terms of the debt crisis and the Euro’s fate.
Comments »New Home Sales: Prior 343k, Market Expects 347k, Actual 369k
Best showing since April of 2010…
Comments »Risk of Very Off This Morning
Gapping Up and Down This Morning
Gapping up
LXRX +8.9%, TEVA +7.9%, SNDK +1.8% , NVDA +0.4%, BA +0.1%, RMBS +0.9%,
STZ +1.2% , BUD +1%, WPI +1.7% , NPSP +2.3%,
Gapping down
CEL -5.1%, NOK -5%, BBVA -4.3%, DB -4%, ING -3.9%, FTE -2.8%, TOT -2.3%,
CS -2.1%, BBL -2%, STO -1.7%, RIO -1.6%, E -1.4%, ABB -1.3%, RIMM -1.2%, SD -1%
Comments »Upgrades and Downgrades This Morning
ABB, ALK, ACI, ARNA, AN, ADP, BOKF, BA, CCL, MRK, NFLX, PAYX, PM, RHT, RIMM, SNDK, WWWW,
Comments »In Play and On the Wires
InBev Said To Near Modelo Takeover For $12 Billion
“Anheuser-Busch InBev NV (ABI), the world’s biggest brewer, is close to buying the remainder of Mexico’s Grupo Modelo (GMODELOC) SAB for more than $12 billion, according to a person with knowledge of the matter.”
Comments »America’s Economy Really Is Screwed Up, And The Problem Is Corruption
“Over the past few days, Henry Blodget at Business Insider posted a number of graphs, here and here, which depict something about the US economy that everybody knows to some extent or another, but that most of us won’t have let thoroughly sink in. For some because the consequences are too opaque, for others because they are too scary. But make no mistake: we can only continue to ignore or misinterpret them at our own peril. And even then it’s terribly late in the game.
The essence of Blodget’s argument is this: ”
Comments »BRIC Economies Experience Huge Currency Drops; More Expected to Come
“The largest emerging markets, whose economies grew more than four-fold in the past decade, are making losers out of everyone from central bankers to Procter & Gamble Co. (PG) as their currencies post the biggest declines since at least 1998.
For the first time in 13 years, the real, ruble and rupee are weakening the most among developing-nation currencies, while the yuan has depreciated more than in any other period since its 1994 devaluation. P&G, the world’s largest consumer-goods maker, cut its profitforecast for the second time in two months last week in part because of currency losses. Brazil’s Fibria Celulose SA (FIBR3), the biggest pulp producer, asked banks to loosen restrictions on dollar loans as the real hit a three-year low.”
Comments »U.S. Banks Aren’t Nearly Ready for Coming European Crisis
“The euro area faces a major economic crisis, most likely a series of rolling, country-specific problems involving some combination of failing banks and sovereigns that can’t pay their debts in full.
This will culminate in systemwide stress, emergency liquidity loans from the European Central Bank and politicians from all the countries involved increasingly at one another’s throats.”
Comments »Ben Davies: Gold Is Worth $6,000
“Ben Davies, CEO of Hinde Capital, spoke to King World News yesterday giving his thoughts on where gold is headed next. He is somewhat bearish, saying gold could fall over 10 percent to around $1400 per ounce as Europe continues to muddle through its crisis.
Davies told King World News:
If you look at it on a relative basis, gold has maintained its purchasing power. It’s done exactly what it should be doing. Short-term I am concerned that we could be going down to $1,400. Yes, that’s a real risk in this environment…”
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