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August 2007
- One Unrivaled Market Force: Vacation
  
  newser | Financial Times (UK) | Aug 25, 07 6:19 AM CDT
  
  The FT leads with a prediction that market volatility will decrease over the next week for a simple reason: everyone's going on vacation. Major decisions by banks, hedge funds and mortgage lenders will be on hold as the financial world bails New York, London and Frankfurt for the end of the summer season. More »
  
  Tags
  
  credit crisis • hedge fund • finance • bank • markets • vacation • loans
- Consumer Comfort Crumbles
  
  newser | Washington Post | Aug 22, 07 1:50 AM CDT
  
  Unrest in the financial markets and housing sector has consumers on edge, a new survey says. The Washington Post /ABC News "consumer comfort index" nosedived this week, displaying the biggest 1-week plunge in the poll's 22-year history, the newspaper reports. The current reading nearly matches the lows reached after Katrina struck 2 years ago. More »
  
  Tags
  
  stock market • housing market • money • finance • consumer confidence
- Credit Crisis: Damaging or Deserved?
  
  newser | Economist | Aug 19, 07 9:17 PM CDT
  
  The Economist takes the long view on the turmoil that has engulfed the financial markets, noting that investors have long wondered whether the "the securitisation of just about every form of debt into a tradable asset" would, in the end, spread risk efficiently or lead to cataclysmic failure. The immediate threat, it argues, is to the banking system, where lack of confidence in lending can cripple otherwise solvent institutions. More »
  
  Tags
  
  finance • credit market • investors • markets • risk management
- Fed Shaves Half- Point Off Discount Rate
  
  newser | Associated Press | Aug 17, 07 8:14 AM CDT
  
  In a surprise move, the Fed cut its discount rate, which it charges on direct loans to banks, from 6.25% to 5.75% this morning. The central bank acted to calm fears about uncertainty in the global markets surrounding the worsening credit crunch and underlying subprime-loan crisis. The federal funds rate, which banks charge each other, was unchanged at 5.25%. More »
  
  Tags
  
  subprime mortgages • Federal Reserve • finance • bank • markets • loans • economic growth • global market • discount rate
- Dell to Rewrite Cooked Books
  
  newser | Reuters | Aug 17, 07 2:53 AM CDT
  
  The Dell computer company will have to restate four years of financial data after an audit revealed that executives inflated numbers to meet quarterly goals, firm officials announced yesterday. The adjustments would lower the company's stated net income by as much as $150 million, Reuters reports. But analysts say the news is better than expected, with Dell rising 3 percent in after-hours trading. More »
  
  Tags
  
  computer • finance • Dell • NASDAQ
- Paulson: Downturn Won't Provoke Recession
  
  newser | Wall Street Journal | Aug 16, 07 10:51 AM CDT
  
  The current turmoil in the financial markets will take its toll on the economy, but won't cause a recession, Treasury Secretary Henry Paulson tells the Wall Street Journal in his first interview since the downturn began. Paulson says the crisis comes in the context of a very strong global economy—the strongest he's seen in his 32-year Wall Street career, he says—and that should insure continuing, if slowed, growth. More »
  
  Tags
  
  US economy • recession • Henry Paulson • finance • markets • global economy
- Japan Pumps Cash Into Market
  
  newser | Bloomberg | Aug 13, 07 12:16 AM CDT
  
  The Bank of Japan pumped $5.1 billion into the Japanese financial system today as the global credit crunch continued to ripple through the Asian markets, Bloomberg reports. Adding to the jitters, Japan's growth is slowing more markedly than economists predicted; the world's second-largest economy expanded by only 0.5% in the last quarter, compared to 3.2% the previous quarter. More »
  
  Tags
  
  subprime mortgages • stock market • Japan • finance • Bank of America • Asian markets • GDP • Nikkei • Japanese economy • Bank of Japan • global credit
- Fed Pumps $19B Into Market
  
  newser | Bloomberg | Aug 10, 07 8:39 AM CDT
  
  The Federal Reserve pumped $19 billion in temporary funds into the banking system today by buying up mortgage-backed securities. The move is aimed to insure that there is enough cash available in the credit markets and keep the interest rate close to the Fed's target of 5.25%. It also makes it clear that the Fed does not yet plan to cut that interest rate, Bloomberg reports. More »
  
  Tags
  
  Federal Reserve • Ben Bernanke • interest rate • finance • bank • credit market • mortgage backed securities • market
- Euro Bank Injects $190B to Avoid Crash
  
  newser | Times (UK) | Aug 10, 07 5:28 AM CDT
  
  The European Central Bank has released $190 billion in emergency funds in a desperate attempt to restore liquidity to the region's markets. The Financial Times reports that the ECB's emergency injection echoes moves by central banks in Japan, the US and Canada but is unprecedented in scale. The move rattled investors and sent stocks sliding even further. More »
  
  Tags
  
  subprime mortgages • stocks • finance • investors • markets • loans • liquidity • European Central Bank • BNP Paribas
- BNP Paribas Halts Fund Withdrawals
  
  newser | Bloomberg | Aug 9, 07 12:35 PM CDT
  
  France's largest bank today froze three investment funds threatened by the subprime mortagage collapse, claiming it can’t “fairly” place a value on their rapidly declining assets. Citing the “complete evaporation of liquidity” in the US securities market, BNP Paribas halted withdrawals from the funds, which were worth $2.2 billion, down 20% in less than 2 weeks, Bloomberg reports. More »
  
  Tags
  
  subprime mortgages • Bear Stearns • finance • bank • stock • BNP Paribas • mutual funds
- Dow Sees Biggest Gain in 5 Years Before Fed Meeting
  
  newser | Wall Street Journal | Aug 6, 07 3:58 PM CDT
  
  US stocks posted major gains after three straight weeks in the red, as blue chips advanced cautiously in the wake of last week's selloff. The Dow was up 286.87 to 13468.78, its best close since October, 2002, mainly following long-suffering financial companies. Merrill Lynch got a boost from a UBS upgrade; Citigroup and Wells Fargo also gained, after last week's bloodletting under the subprime scalpel. More »
  
  Tags
  
  stock market • Federal Reserve • S&P 500 • Nasdaq • Dow Jones • finance
July 2007
- Credit Crunch Rocks LBOs
  
  newser | Wall Street Journal | Jul 27, 07 6:27 AM CDT
  
  Leveraged buyouts, which have fueled Wall Street booms with offers of huge premiums on shares of target companies, are sputtering to a halt, the Wall Street Journal reports. Private equity firms, which just weeks ago were predicting acquisitions worth $100 billion and more, are now finding large-scale borrowing too expensive to make deals worthwhile. More »
  
  Tags
  
  Wall Street • private equity • finance • LBOs • leveraged buyouts
- Whole Foods CEO Sorry for Web Subterfuge
  
  newser | Wall Street Journal | Jul 18, 07 6:15 AM CDT
  
  The CEO of Whole Foods apologized yesterday for boosting his company and posting snide comments about a rival supermarket chain in Internet forums and said he "had fun doing it." John Mackey's actions over the last 8 years have already triggered an SEC investigation, and the company's board said yesterday it will launch its probe, the Wall Street Journal reports. More »
  
  Tags
  
  Yahoo • food • mergers and acquisitions • SEC • acquisitions • finance • Whole Foods • FTC • Federal Trade Commission • Wild Oats • John Mackey • message boards • forums • food company
- Funds Find One Bet They Can't Hedge: Trust
  
  newser | Washington Post | Jul 4, 07 9:35 AM CDT
  
  The recent collapse of two Bear Stearns hedge funds, and the resulting informal SEC investigation, have once again placed the complex system and its impact on markets under the spotlight. The Washington Post delves into the history and ethos of the powerful funds, comparing them to the Wizard of Oz in both secrecy and influence. More »
  
  Tags
  
  Wall Street • Bear Stearns • SEC • hedge fund • finance • markets
June 2007
- Hong Kong Poised to Become Asia's Big Apple
  
  newser | Newsweek | Jun 30, 07 7:12 PM CDT
  
  Hong Kong is in decline as Asia's premier shipping hub, but the dip in dockyard activity is nothing to fret over, Newsweek reports. The city is on the brink of becoming one of the world's financial capitals—on par with London and New York. Economic shifts are reconfiguring the political landscape as well: a rising middle class is clamoring for cleaner air and universal suffrage. More »
  
  Tags
  
  China • stock market • business • finance • democracy • Hong Kong • economics • trade • investment
- Battle for Tech-Savvy New Grads Heats Up
  
  newser | Bloomberg | Jun 29, 07 9:36 AM CDT
  
  Demand for students and recent grads with top-notch tech skills is higher than it's been in over a decade, thanks in part to banks and securities firms waging the recruiting wars alongside Silicon Valley giants such as Google. Bloomberg goes inside the process of wooing the so-called millennials, born between 1982 and 2002 and currently writing their own tickets. More »
  
  Tags
  
  Google • Wall Street • technology • finance • Silicon Valley • recruits
- Wall Street, GOP Team Up on Tax Bill
  
  newser | Wall Street Journal | Jun 28, 07 8:52 AM CDT
  
  Wall Street stormed Washington yesterday, as more than 70 lobbyists for financial firms met with GOP lawmakers to organize opposition to a bill that would raise the tax rate on private-equity partners. The proposal would require managers at private partnerships to pay the normal income tax rate of up to $35% on their cut of profits, rather than the 15% rate they now enjoy. More »
  
  Tags
  
  Republicans • Wall Street • GOP • Henry Paulson • private equity • taxes • finance
- SEC Opens Subprime Probe
  
  newser | Wall Street Journal | Jun 27, 07 2:17 PM CDT
  
  The feds are investigating the controversial bundles of financial services that have recently shaken the market and sparked a spate of leveraged buyouts, the Journal reports. SEC chief Christopher Cox told a congressional panel yesterday that "about 12 investigations" were under way into CDOs, shared debt packages reliant on faltering subprime mortgages. More »
  
  Tags
  
  subprime mortgages • Bear Stearns • SEC • hedge fund • finance • investigation • market • Christopher Cox • leveraged buyouts • CDO
- CPI Registers Spring Spike
  
  newser | MarketWatch | Jun 15, 07 11:06 AM CDT
  
  The consumer price index jumped 0.7% in May, riding high energy prices to its second-biggest spike in 16 years. But the volatile food and energy sectors appeared not to disrupt the rest of the economy, MarketWatch reports. The core CPI, which excludes food and gas prices, rose only 0.15%, just enough below 0.2% forecasts to calm inflationary fears. More »
  
  Tags
  
  US economy • Federal Reserve • Wall Street • Ben Bernanke • inflation • finance • core inflation • Consumer Price Index • interest
- Mortgage Trouble Rattles Wall Street
  
  newser | Bloomberg | Jun 14, 07 10:54 AM CDT
  
  Bear Stearns posted a 10% drop in quarterly earnings today, the latest victim of the subprime collapse. The country's second-largest mortgage-bond underwriter posted profits well below expectations, down nearly 33% from last year to $362 million. Goldman Sachs escaped bruised but more-or-less unscathed, with profits up 1% on the strength of its banking division. More »
  
  Tags
  
  US economy • subprime mortgages • business • Bear Stearns • Goldman Sachs • finance • earnings reports • investment bank • equity trading

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