Itochu, Japan’s fourth-largest trading house, announced Thursday that it had agreed to pay $710 million to pick up a a 20 percent stake in Chinese food processing company Ting Hsin Holding. Japan’s big trading houses, whose coffers are full due to smart bets on iron ore and metals, are pushing into the processed food [...]
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Market recap. U.S. stock and bond markets dropped to their lowest levels since the economic crisis began, on new concerns about rising defaults and the financial system's health. The stock market fell to a 5.5 year low, led by banks and financial institutions. Markets are now down 43.5% from an all-time high reached just over a year ago, and nearly all the gains from the last bull market (from...
Baidu.com, Inc. (NASDAQ: BIDU) looks like an analyst convention started on the steps to its corporate headquarters. The Chinese search giant did manage to score an upgrade, but it also took a downgrade and saw a price target slashed. Credit Suisse raised Baidu.com to Neutral from Underperform; target raised to $184 from $138. Citigroup cut it to Sell from Buy; new target is $110 from $300 in a...
It used to be a pretty good deal to work at a large US company for several decades and then retire with a pension and health benefits. A lot of that part of the American dream is heading out the window. The Big Three may not be able to fund the VEBA which they set up with the UAW. That would mean tens of thousands of retired auto employees might have to pay their own doctor bills. A large numbe...
According to Reuters, Japan exports hit their lowest level since 2002. Reuters writes that hopes for an auto bailout in this session of Congress are poor. Reuters reports that the US is looking into lending practices at Golden West. Reuters reports that small businesses are being hurt by trouble on Wall St.Reuters reports that a bank analyst said financial firms need another $1 trillion in capi...
The FOMC minutes were just released from its recent 10/28 - 10/29 meeting. Here are the highlights: The information reviewed at the October meeting indicated that economic conditions deteriorated in recent months. The labor market weakened further in September as private payrolls fell at a faster pace than earlier in the year and the unemployment rate remained above six percent. Industrial prod...
Market broke through October lows yesterday. Just what I was afraid of. Let's see if it goes straight down to 7700.Steve Ballmer of Microsoft (MSFT) repeated yesterday that they don't want to buy Yahoo! (YHOO) anymore. Surprise! Not for me. In February Microsoft had a lot of free cash to pay for Yahoo! (terms of the deal were half stock and half cash). Not anymore, all that cash is allocated al...
This 2 part series will cover recent market developments about Berkshire Hathaway, points to a strategy on how you may benefit more on the same trades he did recently and an option trading strategy that probably Berkshire uses for maximizing it returns on the underlying they find worth investing. Don’t forget to read the big picture of US stock markets. Markets are behaving pretty much th...
Some mortgage companies are slashing the amount that borrowers owe, deciding that a permanent cut in the loan balance may pay off if that helps teetering borrowers avoid foreclosure.
The collapse of AIG shares might not be something former CEO Greenberg ever wished for, but it is generating big payoffs on two bets his investment vehicle made three years ago.