Silver's big move in the past few sessions helped draw more than $600M into the iShares Silver Trust (SLV) over the last week. It's 6% of AUM, the leader among all ETFs for creation activity during this period. [View news story]
Actually, the Fed just decided to send the Germans some Comex silver instead of explaining their gold was missing
Cadillac (GM) plans to double its lineup of vehicles by 2016 to help it create a global brand with up to ten new crossover and car models, according to sources. On tap first is an ELR hybrid slated to debut later this year. [View news story]
It's the ownership of the company we were deriding, not auto sales. Ford didn't take a bailout.
Cadillac (GM) plans to double its lineup of vehicles by 2016 to help it create a global brand with up to ten new crossover and car models, according to sources. On tap first is an ELR hybrid slated to debut later this year. [View news story]
Don't worry. The gov't has the buying GM part covered. With some of the decisions being made, it seems like the bureacrats are hands on managers.
Chicago Fed President Charles Evans says the Fed could end its bond-buying if the economy creates another 1-1.5M jobs over the next six months to a year. "That would be indicative that we could stop," says Evans. However, he forecasts that unemployment won't drop to 6.5% until mid-2015, which would mean that under the Fed's plan of linking monetary policy to the jobless and inflation rates, the bank could keep interest rates close to zero for another 2.5 years. [View news story]
You forget that to be seen as a voice of reason at the Fed all you have to say is 'Someday, we may stop printing'
Carl Icahn has reportedly entered the battle of the investor titans that's raging over Herbalife (HLF) by acquiring a stake in the supplements company. Icahn has joined Dan Loeb on the long side, thereby going up against Bill Ackman on the short. "It's going to be an Ackman sandwich," a hedge fund manager declared. [View news story]
Good to see the hedgies feasting on one another for a change rather than just crush the little guys
The AIG board has 3 options, says the company in a statement: 1) Take over the Starr (Greenberg) lawsuit against the U.S. 2) Stand in Greenberg's way (and likely face a lawsuit by him). 3) Allow Greenberg to move forward on AIG's behalf. "The (board) has fiduciary and legal obligations to the company and its shareholders to consider (Greenberg's demand) and respond in a fair, appropriate, and timely manner." (earlier) [View news story]
Just choose C. Some PO'd, fired then foreclosed on, normal guy - who probably had his savings stolen by Corzine and JPM will hunt him down and send him to banker heaven.
Remember the EU? Its permanent rescue fund - the ESM - completes its first debt offering, raising €1.93B through the sale of short-term bills. Investors - with Japan being a major one - paid the ESM for the privilege of lending to it, as the paper is priced to yield -0.0324%. [View news story]
The plunge in shares of Longwei Petroleum (LPH -55.2%) is attributed to a negative article from Geoinvesting.com, which writes that "the company's purported business operations are massively overstated and a brazen fraud, on an order of magnitude unmatched before by any China-based companies we have seen." [View news story]
General Motors (GM) December U.S. sales: +4.9% to 245,733, more than doubling up the sales growth mark expected by analysts. By brand, Cadillac and Buick posted double-digit gains, while the key Chevrolet brand saw sales increase 3.7% to 167,091. Total GM passenger car sales rose 14%, while crossover models gained 2% and the pickup/SUV category was flat. (PR) [View news story]
This just in...GM dealer inventories up 8% over the same time period
Market preview: Global markets are giddy with joy after Congress skids to a halt at the fiscal cliff with a sharp hand-brake U-Turn that leaves the back tires hanging over the edge. S&P benchmark futures are +1.9%. However, the excitement will probably be short-lived, as there's the small matter of the debt ceiling to be dealt with, not to mention $110B of automatic cuts that were delayed for two months. Later: ISM Manufacturing Index, Construction Spending, FOMC minutes. [View news story]
Only algo's and idiots can see this as a good thing...When we stop playing central bank FantasyLand the payback is going to be a b**itch
Fourteen banks are reportedly set to reach a $10B settlement with regulators over abusive foreclosure practices such as incorrect paperwork and excessive charges. The banks include the five that agreed to pay $26B in another deal earlier this year - JPMorgan (JPM), Bank of America (BAC), Wells Fargo (WFC), Citigroup (C) and Ally Financial. The latest settlement will allow banks to end a review of 4M loan files that has cost 1.5B so far. [View news story]
You know, it suddenly dawned on me why the banksters are never charged with anything. If the all the people ransacking the country via these financial reamings were prosecuted, where the heck would we find anyone to appoint to gov't positions? I mean, can you seeing Dimon taking over for Timmy if he had several felonies to his credit? Do you think Diamond will be stepping in as printer in chief? I guess he is almost as qualified to fudge the interest rates as the Bernak.
The fiscal cliff deal will probably ensure that the U.S. avoids recession but it will also help cut GDP growth to 1% in Q1 2013 from 3.1% Q3 2012, JPMorgan and BofA economists forecast. "It’s going to definitely present a headwind for the economy," says JPM's Michael Feroli. "We’re looking for a downdraft in growth in the first half of the year, with the economy coming back in the second." [View news story]
Fooled you. It's far more likely Joe is at least paying someone far smarter then he is. They just can't fake things when he is live.
Fourteen banks are reportedly set to reach a $10B settlement with regulators over abusive foreclosure practices such as incorrect paperwork and excessive charges. The banks include the five that agreed to pay $26B in another deal earlier this year - JPMorgan (JPM), Bank of America (BAC), Wells Fargo (WFC), Citigroup (C) and Ally Financial. The latest settlement will allow banks to end a review of 4M loan files that has cost 1.5B so far. [View news story]
But, of course, there were no individuals responsible
Fiscal cliff negotiations between Senate Majority Leader Harry Reid and Minority Leader Mitch McConnell hit a major snag after Republicans demand use of the "chained CPI" method for calculating entitlement benefits - which would result in lower payments for Social Security beneficiaries. Pres. Obama backed the provision previously, but Democrats now object to including it as part of a scaled-down deal. Updated 5:51 p.m.: The Senate won't vote tonight and will reconvene at 11 a.m. tomorrow, Reid says. [View news story]
It's going to take SS cuts and a lot more than that to restore financial sanity to this country. This allowing voting blocks to suck the country into Greece territory by demanding benefits is a river that must be crossed.
The House will reconvene on Sunday in an attempt to strike a last-minute fiscal cliff deal, Congressmen have been told. Equities are bouncing on the news. S&P -0.8%. Dow -0.5%. NASDAQ -0.6%. Pres. Obama may have a new proposal for Republicans to weigh. [View news story]
I think the Mac is probably Reid in disguise. Proof you can grow old being a fool.
Silver's big move in the past few sessions helped draw more than $600M into the iShares Silver Trust (SLV) over the last week. It's 6% of AUM, the leader among all ETFs for creation activity during this period. [View news story]
Cadillac (GM) plans to double its lineup of vehicles by 2016 to help it create a global brand with up to ten new crossover and car models, according to sources. On tap first is an ELR hybrid slated to debut later this year. [View news story]
Cadillac (GM) plans to double its lineup of vehicles by 2016 to help it create a global brand with up to ten new crossover and car models, according to sources. On tap first is an ELR hybrid slated to debut later this year. [View news story]
Chicago Fed President Charles Evans says the Fed could end its bond-buying if the economy creates another 1-1.5M jobs over the next six months to a year. "That would be indicative that we could stop," says Evans. However, he forecasts that unemployment won't drop to 6.5% until mid-2015, which would mean that under the Fed's plan of linking monetary policy to the jobless and inflation rates, the bank could keep interest rates close to zero for another 2.5 years. [View news story]
Carl Icahn has reportedly entered the battle of the investor titans that's raging over Herbalife (HLF) by acquiring a stake in the supplements company. Icahn has joined Dan Loeb on the long side, thereby going up against Bill Ackman on the short. "It's going to be an Ackman sandwich," a hedge fund manager declared.
[View news story]
The AIG board has 3 options, says the company in a statement: 1) Take over the Starr (Greenberg) lawsuit against the U.S. 2) Stand in Greenberg's way (and likely face a lawsuit by him). 3) Allow Greenberg to move forward on AIG's behalf. "The (board) has fiduciary and legal obligations to the company and its shareholders to consider (Greenberg's demand) and respond in a fair, appropriate, and timely manner." (earlier) [View news story]
Remember the EU? Its permanent rescue fund - the ESM - completes its first debt offering, raising €1.93B through the sale of short-term bills. Investors - with Japan being a major one - paid the ESM for the privilege of lending to it, as the paper is priced to yield -0.0324%. [View news story]
The plunge in shares of Longwei Petroleum (LPH -55.2%) is attributed to a negative article from Geoinvesting.com, which writes that "the company's purported business operations are massively overstated and a brazen fraud, on an order of magnitude unmatched before by any China-based companies we have seen." [View news story]
General Motors (GM) December U.S. sales: +4.9% to 245,733, more than doubling up the sales growth mark expected by analysts. By brand, Cadillac and Buick posted double-digit gains, while the key Chevrolet brand saw sales increase 3.7% to 167,091. Total GM passenger car sales rose 14%, while crossover models gained 2% and the pickup/SUV category was flat. (PR) [View news story]
Market preview: Global markets are giddy with joy after Congress skids to a halt at the fiscal cliff with a sharp hand-brake U-Turn that leaves the back tires hanging over the edge. S&P benchmark futures are +1.9%. However, the excitement will probably be short-lived, as there's the small matter of the debt ceiling to be dealt with, not to mention $110B of automatic cuts that were delayed for two months. Later: ISM Manufacturing Index, Construction Spending, FOMC minutes. [View news story]
Fourteen banks are reportedly set to reach a $10B settlement with regulators over abusive foreclosure practices such as incorrect paperwork and excessive charges. The banks include the five that agreed to pay $26B in another deal earlier this year - JPMorgan (JPM), Bank of America (BAC), Wells Fargo (WFC), Citigroup (C) and Ally Financial. The latest settlement will allow banks to end a review of 4M loan files that has cost 1.5B so far. [View news story]
The fiscal cliff deal will probably ensure that the U.S. avoids recession but it will also help cut GDP growth to 1% in Q1 2013 from 3.1% Q3 2012, JPMorgan and BofA economists forecast. "It’s going to definitely present a headwind for the economy," says JPM's Michael Feroli. "We’re looking for a downdraft in growth in the first half of the year, with the economy coming back in the second." [View news story]
Fourteen banks are reportedly set to reach a $10B settlement with regulators over abusive foreclosure practices such as incorrect paperwork and excessive charges. The banks include the five that agreed to pay $26B in another deal earlier this year - JPMorgan (JPM), Bank of America (BAC), Wells Fargo (WFC), Citigroup (C) and Ally Financial. The latest settlement will allow banks to end a review of 4M loan files that has cost 1.5B so far. [View news story]
Fiscal cliff negotiations between Senate Majority Leader Harry Reid and Minority Leader Mitch McConnell hit a major snag after Republicans demand use of the "chained CPI" method for calculating entitlement benefits - which would result in lower payments for Social Security beneficiaries. Pres. Obama backed the provision previously, but Democrats now object to including it as part of a scaled-down deal. Updated 5:51 p.m.: The Senate won't vote tonight and will reconvene at 11 a.m. tomorrow, Reid says. [View news story]
The House will reconvene on Sunday in an attempt to strike a last-minute fiscal cliff deal, Congressmen have been told. Equities are bouncing on the news. S&P -0.8%. Dow -0.5%. NASDAQ -0.6%. Pres. Obama may have a new proposal for Republicans to weigh. [View news story]