We extend your Money Senses
Monday January 21, 1:28 am ET
By Carl Freire, Associated Press Writer
Asian Markets Sink Amid Pessimism Over US Stimulus Plan; Japan’s Nikkei Tumbles 3.4 Percent
TOKYO (AP) — Asian shares fell broadly Monday morning following declines on Wall Street last week amid investor pessimism over the U.S. government’s plan to prevent a recession.
A contraction in […]
Just because a recession may be near doesn’t mean businesses don’t need to cut costs and innovate, and a bevy of would-be public tech firms are lining up to help out.
By Michael Copeland, senior writer
SAN FRANCISCO (Fortune) — Just because the U.S. economy might be looking at a recession, doesn’t mean a few […]
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 […]
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 […]
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 […]
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 […]
By Mayumi Otsuma and Masahiro Hidaka
Nov. 16 (Bloomberg) — Bank of Japan Deputy Governor Toshiro Muto said the U.S. housing recession and financial- market turmoil could hurt Japan’s economy, making it “difficult” to decide when to raise interest rates.
The central bank expects the economy to keep growing with stable prices, though “we must examine […]
By Simon Kennedy and Sandrine Rastello
Nov. 13 (Bloomberg) — European finance ministers pressed China to let its currency strengthen so their economy no longer bears the brunt of the drop in the U.S. dollar.
With the dollar plumbing record lows against the euro this month, the officials meeting yesterday in Brussels complained Europe’s economy is […]
By Christine Harper
Bloomberg — When Goldman Sachs Group Inc. employees cash their year-end checks, they’ll have enough money to buy Bear Stearns Cos.
Goldman, the biggest and most profitable U.S. securities firm, set aside $16.9 billion to pay salaries, benefits and bonuses in the first nine months of 2007, according to the company’s third-quarter earnings […]