TPG is at risk of losing a substantial amount of money it coughed up to invest in a Chinese leasing venture after a business dispute in which local police were called in to remove the private equity firm’s representatives, The Financial Times reported, citing people familiar with the matter. In deal sewn up in February, the [...]
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The chief executives of Detroit’s Big Three automakers departed Washington empty-handed on Wednesday night after two days of pleading for a financial lifeline on Capitol Hill, The New York Times’s Bill Vlasic and David M. Herszenhorn reported. As the public hearings and intense behind-the-scenes negotiations appeared to come to naught, the Senate majority leader, Harry Reid [...]
A U.S. Senate subcommittee is opening a probe into causes of the global financial crisis, focusing in part on whether bond-ratings firms, driven by conflicts of interest, boosted mortgage investments which have since collapsed, The Wall Street Journal reported. The ranking Republican on the Senate’s Permanent Subcommittee on Investigation, Senator Norm Coleman, told The Journal that [...
Some of the world’s top banks are backing a proposal to develop a mandatory central clearing system for the $55 trillion credit default swap market, The Financial Times reported. Dealer banks are stepping up efforts to back swaps clearing to head off a more radical overhaul, which includes a proposal to move trading of over-the-counter [...]
In early trade, AEM and ABX, my two gold watch list stocks rose to the top of the % gainers list on a weaker dollar. I was waiting for AEM to retrace or form some NRIBs at the base of resistance (blue line). The dollar ended up being a fade and gold pulled back in. However, I noticed that AEM was halted pending news. Briefing.com reported that AEM announced a $252 mln private placement; or 8 ml...
The government reported the sharpest drop on record in the consumer price index in October, fanning fears that a dangerous price-deflation...
Filed under: Earnings reports, Trina Solar ADS (TSL), Suntech Power Hldgs ADS (STP)Increasing demand for solar energy and solar products proved to be a boon for Trina Solar Ltd. (NYSE: TSL) and LDK Solar Co. Ltd. (NYSE: LDK) as both companies reported Wednesday that their earnings soared in the third quarter. Investors were not impressed, however, pushing shares lower. Trina Solar, a maker of s...
Filed under: Money and Finance Today, Economic data, Housing, Financial CrisisWhen you read the stories today about home construction hitting its lowest level since 1959, you probably think it's just more bad news -- but it's actually good news. The only way we're going to even get near the bottom of the housing price drop is for the backlog of available homes to be sold. We'll only see prices ...
Largest moves always at the beginning and the end David Skarica, author of the Addicted to Profits newsletter, gives The Gold Report an exclusive preview of coming market attractions including double-digit inflation, a super pop in gold stocks, and the demise of an empire. A financial advisor who earned his reputation as a contrarian before he turned 30 by predicting the dot.com bust, Skarica w...
Consumer prices dropped at the fastest rate in its 61 years of record keeping, the Labor Department reported in its October Consumer Price report. Its closely watched Consumer Price Index (CPI) dropped 1% in October, higher than the 0.8% decline forecast. The overall drop was heavily weighted by declining prices of energy (-8.6%), transportation (-5.3%), and clothing (-1.0%). Prices for everyth...