Archive for the 'Economy' Category
Banks Face 10-Day Debt Timebomb
September 11th, 2007This might be related to the massive Eurostoxx 50 put options bet that is in play now. Related: Telegraph: Britain’s biggest banks could be forced to cough up as much as £70bn over the next 10 days, as the credit crisis that has seized the global financial system sparks a fresh wave of chaos. Almost […]
Mexico: Insurgents Attack Six Oil and Gas Pipelines
September 11th, 2007Undefended critical infrastructure… Via: Reuters: Explosions rocked Mexico on Monday as attacks on six pipelines disrupted oil and gas supplies and forced thousands from their homes, just weeks after leftist rebels set off a string of pipeline bombs. Huge billowing flames lit the night sky after the blasts in the early hours of the morning. […]
Indian Software Firm to Outsource to U.S.
September 8th, 2007Before you listen to this, try to think of all the reasons why Wipro would want to do this. There are several. Via: NPR: Morning Edition, September 6, 2007 · Indian software firm Wipro plans to open a big software design center in Atlanta. The Bangalore, India-based firm expects to hire around 500 computer programmers […]
Gold Rallies Through $700 as U.S. Payrolls Fall
September 7th, 2007WARNING: This is not a recommendation to buy, sell or hold any financial instrument. We all know that this is what gold “should” be doing. That’s what scares me. I wonder what’s different about now? Yeah, I know. Take your pick. Can we get some Central Bank selling in here, please, so we can all […]
Syria Fires on Israeli War Planes
September 6th, 2007Via: AFP: Syria said its air defences opened fire on Israeli warplanes which had violated Syrian airspace at dawn on Thursday, ratcheting up the tensions between the neighbouring foes. A Syrian cabinet minister warned that the nation’s leadership was considering its response to the Israeli “aggression” while in Jerusalem the military declined any comment. “Enemy […]
Record Drop in Pending Home Sales
September 5th, 2007Via: CNN: The meltdown in the mortgage market caused the biggest drop on record in July for pending home sales, taking the index down to the lowest level since the month that included the Sept. 11, 2001 terrorist attack. The National Association of Realtors’ pending home sales index, which measures contracts to buy existing homes, […]
Markets Brace for Seismic September
September 4th, 2007Via: New York Post: The Labor Day weekend is over, the kids are back in school and Wall Street traders have returned to their desks, bracing themselves for a bumpy ride. But this year investors shouldn’t count on the “Santa Claus rally” to rescue them from the tumult created by the subprime market implosion. ” […]
PROPERTY PRICES IN SOME AREAS COULD BE CUT IN HALF
September 3rd, 2007Via: Finfacts Ireland: US homes may lose as much as half their value in some US cities as the housing bust deepens, according to Yale University professor Robert Shiller. Meanwhile, Martin Feldstein of Harvard University says that experience suggests that the dramatic decline in residential construction provides an early warning of a coming recession. The […]
Mexico Trucks to Roll on U.S. Highways
September 3rd, 2007Via: Yahoo: The Bush administration can proceed with a plan to open the U.S. border to long haul Mexican trucks as early as next week after an appeals court rejected a bid by labor, consumer and environmental interests to block the initiative. The 9th Circuit Court of Appeals in San Francisco late on Friday denied […]
U.S. May Invoke ‘State Secrets’ to Squelch Suit Against Swift
September 3rd, 2007Via: International Herald Tribune: The Bush administration is signaling that it plans to turn once again to a favorite legal tool known as the “state secrets” privilege to try to shut down a lawsuit brought against a Belgium banking cooperative that secretly supplied millions of private financial records to the U.S. government, court documents show. […]
