Australia's big four banks will retain their double-A long-term credit ratings following the federal government's decision to withdraw the wholesale funding guarantee, ratings agency Standard & Poor's (S&P) says.However, S&P also warned that the Australian banking system's significant dependence on offshore wholesale borrowing was a key ratings weakness.S&P said...
By Ellis MnyanduNEW YORK (Reuters) - The Dow industrials closed below 10,000 for the first time since November on Monday as investors sold bank shares due to heightened concerns about the euro zone's sovereign debt troubles.Bank of America BAC shares lost more than 3 percent, while JPMorgan JPM slipped 1.6...
Feb. 4 Bloomberg -- Warren Buffett's Berkshire Hathaway Inc. was stripped of its last AAA credit rating by Standard & Poor's after the billionaire investor agreed to buy railroad Burlington Northern Santa Fe Corp.Berkshire, which is taking on debt to fund the $26 billion takeover, was cut one level to...
Feb. 4 Bloomberg -- Warren Buffett's Berkshire Hathaway Inc. was stripped of its last AAA credit rating by Standard & Poor's after the billionaire investor agreed to buy railroad Burlington Northern Santa Fe Corp.Berkshire, which is taking on debt to fund the $26 billion takeover, was cut one level to...
By Ellis MnyanduNEW YORK (Reuters) - The Dow industrials closed below 10,000 for the first time since November on Monday as investors sold bank shares due to heightened concerns about the euro zone's sovereign debt troubles.Bank of America BAC shares lost more than 3 percent, while JPMorgan JPM slipped 1.6...
This week is not so heavy on the economic calendar front. One notable item is the January retail sales.
Earnings reports continue to be heavy. Notable companies set to report this week include: CVS Caremark (CVS), NYSE Euronext (NYX), Baidu (BIDU), Walt Disney (DIS), Sprint (S), Phillip Morris (PM) and Duke Energy ...
The action in the market today was driven mostly by the technical’s. That is, the end of day reversal was upon the channel support discussed over the past two days in the market videos.
On the hourly chart of the S&P 500 E-Mini’s we discussed the channel (green lines), and today that channel offered support [...]
Time Warner Cable Inc. (TWC) has decided to speed up its investment in the next-generation (4G) WiMAX venture in 2010. From December 2009, the company has started offering WIMAX services in Dallas, and parts of North Carolina and Hawaii.
Under the brand name of “Road Runner Mobile,” this super-fast mobile broadband network supports Internet speed of [...]
German telecom giant Deutsche Telekom (DT) is mulling over spinning off its U.S. arm, T-Mobile USA. Alternatively, the German operator may launch an initial public offering (IPO) for the US wireless unit, according to a Wall Street Journal report. Deutsche Telekom has negotiated with banks including Deutsche Bank (DB) to manage the IPO. A decision [...]
A surprise drop in the U.S. unemployment rate didn't sway sellers in Friday's market as worries over European sovereign debt trumped the employment picture. The major U.S. averages all ended just in the green, thanks to a late-day charge higher. However, stocks maintained their track to complete the fourth consecutive week of declines to start 2010. The unemployment rate in December dropped to 9.7% from 10%, beating expectations of a slight rise. However, the jobs picture was still mixed as a survey found that about 20,000 jobs were cut last month, an unexpected decline compared to a range of estimates that called for 5,000 to 25,000 jobs gained.[More...]
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Stacy Summary: I recommend you follow all the related stories on ZeroHedge about Sergey’s lawsuit against Goldman. I think there is the makings of a thriller in this story . . .
S&P downgrades Latvia and Estonia
Sergey Aleynikov files suit against Goldman
Stacy Summary: Be careful what you wish for Mike/Liverpool! The S & P downgrade doesn’t even mention the fact that North Sea oil revenue will continue falling. Okay, what are your thoughts? Do you agree that S & P is hardly credible after rating subprime AAA? The the UK will grow its way [...]
