We extend your Money Senses
By Ron Harui and David McIntyre
Dec. 31 (Bloomberg) — The dollar fell, completing its second annual decline against the euro and ending two years of gains versus the yen, as traders increased bets the Federal Reserve will cut rates again to counter an economic slowdown.
The dollar, trading at a two-week low versus the euro […]
Commentary by Michael R. Sesit
Dec. 28 (Bloomberg) — In this season of stock taking, the picture past and future for financial markets is far from pretty. The reason? Subprime
If you didn’t know what subprime meant at the start of the year, it was hard to avoid its meaning by year end.
The big question […]
By Belinda Cao
Dec. 27 (Bloomberg) — The yuan rose the most since China ended a fixed exchange rate to the dollar in 2005 as the government signaled it will use currency policy more aggressively to cool the economy and curb inflation.
The currency gained as much as 0.43 percent after the official China Securities Journal cited […]
NEW YORK (AP) — Art is hot
Despite turmoil in the financial markets, there are no signs that the art market is softening.
The fall auction season in New York saw robust prices across most categories, with postwar and contemporary works in particular going through the roof. It seemed like a new record was being shattered every […]
By James G. Neuger and Simon Kennedy
Dec. 20 (Bloomberg) — The Taj Mahal, one of the world’s architectural masterpieces, welcomes about 2.5 million visitors each year — provided they don’t try to buy tickets with dollars. India’s most popular shrine announced in November that it would stop accepting the U.S. currency and take only rupees, […]
Dec. 19 (Bloomberg) — Morgan Stanley wrote down its subprime-infected mortgage holdings by a greater-than-expected $9.4 billion and received a $5 billion cash infusion from state- controlled China Investment Corp.
The second-largest U.S. securities firm rose 4.2 percent in New York Stock Exchange composite trading. The “significant capital raise” and writedowns may suggest to investors […]
NEW YORK (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.
If that were to be handed out evenly among the […]
By Adam L. Cataldo
Dec. 18 (Bloomberg) — U.S. states are short almost 27 percent of the estimated $2.73 trillion in pension and benefit payments owed to retired workers over the next 30 years.
States, on the hook for an estimated $2.35 trillion in pension payments and $381 billion for retiree benefits including health care, are […]
The Star
Monday December 17, 2007
By Hanim Adnan
The inflation rate in Malaysia is expected to hit 2.8% to 3.5% next year despite the Government’s projection that it would remain unchanged at 2% to 2.5%.
Economists contacted by StarBiz concurred that the pressure in Malaysia was triggered by cost-push inflation, given the high prices of crude […]
Company’s new CEO strikes fast, takes control of 7 off-balance-sheet investments
NEW YORK (AP) — Citigroup Inc. said Thursday it plans to assume control of the seven “structured investment vehicles” the bank advises to help them repay their debts.
Citigroup will provide a “support facility” for its seven SIVs with investments totaling $49 billion and incorporate them […]