Money: June 2008

Wednesday, June 25, 2008

Oil falls $2 after stockpile increase

Oil prices settled more than $2 lower Wednesday after a government report showed an unexpected rise in crude stockpiles.

MasterCard settles AmEx suit for $1.8 billion

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What the Fed decision means for you

If you have a mortgage, carry credit cards and are considering a home equity loan to cope with soaring food and energy prices, you should be paying attention to what the Fed has to say.

House votes to protect upper-income taxpayers

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American to cut 62 flights in Chicago

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Senate on track for housing rescue

An omnibus housing rescue package, some elements of which have been debated in Congress for years, was on track Wednesday to finally move toward enactment.

Dow off 35 as Wall Street awaits the Fed

Stocks move lower as crude oil rallies to $137. UPS says fuel costs will hurt earnings; Dow Chemical will boost prices to cope. Financial and homebuilding stocks rebound. Consumer confidence hits a 16-year low.

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[Source: MSN Money Latest Articles]

How Buffett scored a half-billion on Bud

Long before InBev made its buyout offer, the Oracle of Omaha started scooping up shares based on brand name and strong fundamentals. Here's how he found value the market missed.

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[Source: MSN Money Latest Articles]

3 stocks that radiate potential

The MSN CAPS rating system can help investors find stocks that are building momentum -- and decidewhen to takechips off the table.

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[Source: MSN Money Latest Articles]

When to accept a job buyout

First, you'll need to look at your severance package, health benefits and pension (if there is one). Here's how to evaluate the offer.

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[Source: MSN Money Latest Articles]

Hawaii suffers a tourism blow

A balmy breeze gently blows across the beach, with the warm, clear water of the Pacific Ocean just a few feet away. It's a place honeymooners and families go to get away from it all. But these days, things aren't so perfect in paradise.

The anti-doomsday scenario

The trouble with gloom is that when you're surrounded by it, that's all you can see. A sunny tomorrow could be on its way, but the present darkness is definite. Obviously I'm talking about the economy, not the weather, and I'd like to propose the radical thought that, contrary to the evidence that surrounds us right now, just possibly the apocalypse is not at hand.

6 shipping stocks for commodity boom

Emerging countries' demand for food, fuel and minerals means lots of business for companies that deliver the goods -- but these stocks are volatile and bear watching closely.

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[Source: MSN Money Latest Articles]

Read the Fed statement

This statement was posted on the Federal Reserve Web site on June 25, 2008.

Bernanke's big dilemma

The Fed's next move could determine how the US economic downtown plays out. But there are no good options, and the best strategy wouldn't be easy in an election year.

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[Source: MSN Money Latest Articles]

Is your stock on the 'hit list'?

When short sellers are betting your stock will go down, be wary. Here's a Web site that helps you to peek into this side of the market -- and put that information to use. Also: Good short plays for right now.

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[Source: MSN Money Latest Articles]

World now has 10 million millionaires

North America is still home to the most millionaires, with a third of the world"s wealthiest, but their ranks are growing fastest in Brazil, China and India.

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[Source: MSN Money Latest Articles]

Fed leaves rates unchanged

The Federal Reserve left its key short-term interest rate unchanged Wednesday at 2%, marking the first time in the nine months that it did not cut rates.

Closing the book on Countrywide

Time will tell if Bank of America's purchase of Countrywide Financial Corp. winds up being a bargain or a boondoggle.

Oil speculation: The great debate

It's the $64,000 question on Capitol Hill this week: what is responsible for the record escalation on oil prices?

California sues Countrywide

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Tuesday, June 24, 2008

Don't waste energy: Take profits now

A shaky economy and election-year wrangling could mean a rough market, so get ready. In my model ETF portfolio, I'm taking oil profits and staying defensive.

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[Source: MSN Money Latest Articles]

The evolution of John McCain

Senator, what do you see as the gravest long-term threat to the U.S. economy?" That was the first question we put to John McCain when he sat down for an interview with Fortune on a sunny afternoon in June. The moment felt charged. Hillary Clinton had finally conceded to Barack Obama, and now the contest for the highest office in the land was down to two sparkling finalists - "the most impressive choice America has had for a very long time," The Economist observed from overseas. Both were long shots when all this began. Each prevailed despite deep differences with key blocs in their party bases. Both promised change.

Stocks slip as crude oil rallies above $136

The Saudi agreement to boost production doesn't faze bulls, and energy stocks jump. Financial stocks weaken. GM shares hit their lowest level since 1974 as the automaker offers deep discounts to unload trucks and SUVs. UPS says high fuel costs will hit earnings.

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[Source: MSN Money Latest Articles]

America's untapped oil

Oil companies and many lawmakers are pressing to open up more U.S. areas for drilling. But the industry is drilling on just a fraction of areas it already has access to.

Oil experts: Curb speculation to cut prices

Near-record oil prices could quickly fall by half if Congress were to rein in speculators, according to testimony Monday from a hedge fund manager and oil company adviser on Capitol Hill.

Mileage write-off jumps on pricier gas

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Where did our financial stability go?

Changes to the US economy over the past 4 decades have left Americans richer but less secure. A new book explains why anxiety is rising along with incomes.

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[Source: MSN Money Latest Articles]

Broadcom founder admits lying to SEC

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Stocks mixed on banks and oil

The Nasdaq tumbled and the broader market was mixed Monday afternoon as investors eyed ongoing problems in the financial and automaker sectors and a rise in oil prices.

Bear's dogs that didn't bark

Government documents supporting the charges filed last week against two former Bear Stearns hedge fund stars paint a picture of an organization that had a hard time tackling problems head-on - a flaw that ultimately would prove fatal to the firm.

Saudis: Don't blame us for oil prices

When King Abdullah of Saudi Arabia entered the cavernous ballroom in the basement of the Jeddah Hilton Sunday, the room rose to its feet. Cell phone cameras flashed. Delegates whispered. And reporters placed bets on whether he would say anything newsworthy.

GM offers 6-year, no interest loans

General Motors will offer large financing incentives to clear out a backlog of 2008 model year vehicles, the nation's No. 1 automaker said Monday.

Hard times for the smart money

It has been a tough first year for the Blackstone Group since its initial public offering. But other newly public alternative asset managers have also struggled.

Oracle among 10 stocks for today

The nation's biggest purveyor of business software appears on an MSN Money list of stocks poised to rise. Here are StockScouter's top picks.

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[Source: MSN Money Latest Articles]

McCain's $300M auto battery prize

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How Buffett scored a half-billion on Bud

Long before InBev made its buyout offer, the Oracle of Omaha started scooping shares based on brand name and strong fundamentals. Here's how he found value the market missed.

Read More...

[Source: MSN Money Latest Articles]

Fuel costs could 'devastate' airlines

The skyrocketing price of fuel could "devastate" the airline industry and hurt the economy, according to a report from the Business Travel Coalition released Monday.

Trade in stalled stocks for market movers

I still like the stocks I'm selling, but it's time to make some lemonade out of these short-term lemons.

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[Source: MSN Money Latest Articles]

United Airlines slashes 950 pilot jobs

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Consumers say 'no' to high shipping fees

It's sweltering outside, and you can't go any longer without ordering an air conditioning unit for the bedroom. The best deals seem to be online, but the thought of paying over $40 for shipping makes you hot under the collar.

Monday, June 23, 2008

Citi poised to fire thousands - Report

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3.6% student loans: Consolidate now

Yes, there are some catches. But if you're eligible, you could save 3 percentage points on your loan. It's definitely worth investigating.

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[Source: MSN Money Latest Articles]

Obama attacks 'Enron loophole'

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When will the market face reality?

Oil prices are soaring, inflation is raging, a recession is taking hold, and Wall Street continues to pretend the worst is over. But these problems won't just disappear.

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[Source: MSN Money Latest Articles]

Deepening gloom at General Motors

The news coming out of Detroit is getting worse, and unlike in past years, there will be no full recovery. Analysts are betting that General Motors will be forced to take emergency financial measures this year that could hamper its competitiveness for a long time to come.

Speeders to pay for cops' gas, too

A smallcity in Georgia gets the attention of big local governments with its $12 'fuel fee' tacked on to motorists' tickets.

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[Source: MSN Money Latest Articles]

Why Bush, Congress may make housing deal

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When the 'smart money' gets stupid

Do fund managers think for themselves? A recent example shows that sometimes even the biggest guns don't. But there are still ways to protect your investments.

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[Source: MSN Money Latest Articles]

Saudi oil pledge of little help - Experts

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Lunch with Buffett! Do I hear $650,000?

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Saturday, June 21, 2008

3 tips on buying a foreclosed home

Meet the latest desperate home seller: the bank. According to RealtyTrac, lenders repossessed 197,800 homes in the first four months of 2008 vs. 90,800 in that period last year.

Ford delays launch of new F-150

With sales of full-size pickups in a steep decline, Ford Motor Co. said Friday it is delaying the launch of its new, redesigned Ford F-150 pick-up by two months.

Cap gains tax: How high can Obama go?

Barack Obama has made one part of his plan for the capital gains tax perfectly clear: He wants to raise the rate above 15% for high-income investors.

Stimulus, week 8: $6.9 billion

The Treasury Department said Friday that it sent out 9.1 million economic stimulus checks this week, totaling $6.9 billion.

Can you take clients when you leave a job?

Dear Annie: I got laid off from a brokerage firm, and the hiring situation in this business is so grim that people are calling me looking for job leads, if you can believe that. (If I knew of a job opening, I'd grab it myself.) I've always toyed with the idea of starting my own firm, and this seems like a good time to do it, since a number of my clients told me, when they heard I was leaving, that they'd like to come with me wherever I'm going. With half a dozen good-sized, well-established accounts, my new business would be off to a pretty strong start. But can my employer stop me from taking them? I did not sign any kind of non-compete agreement when they hired me. -Just Wondering

Gates without Microsoft

Let me tell you about Bill Gates. He is different from you and me. First off, the billionaire co-founder of Microsoft has always been something of a utopian. In his mind, even the world's knottiest problems can be solved if you apply enough IQ. Accordingly, Gates, who has been spotted on Seattle freeways reading a book while driving himself to the office, covets knowledge. It's as if he's still trying to make up for dropping out of Harvard, as he spends just about any spare waking minute reading, studying science texts, or watching university courses on DVD.

United to raise fares, require minimum stays

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How can you save on gas? Pay cash

As profits become slimmer or disappear, some gas station owners are offering cash discounts to cut back on the hefty credit card fees they must pay.

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[Source: MSN Money Latest Articles]

Bracing for a roller-coaster recovery

An economic and housing rebound may be a ways off but Wall Street is already in recovery mode. And that should translate into happier times for investors during the second half of the year.

Microsoft without Gates

Steve Ballmer was sobbing. He repeatedly tried to speak and couldn't get the words out. Minutes passed as he tried to regain his composure. But the audience of 130 of Microsoft's senior leaders waited patiently, many of them crying too. They knew that the CEO was choked up because this executive retreat, held in late March at a resort north of Seattle, was the last ever for company co-founder Bill Gates, as well as for Jeff Raikes, one of the company's longest-tenured executives. "I've spent more time with these two human beings than with anyone else in my life," Ballmer finally said. "Bill and Jeff have been my North Star and kept me going. Now I'm going to count on all of you to be there for me."

Crude up on international supply fears

Concerns about supply in the Iranian, Nigerian, and Chinese oil markets sent crude through another volatile trading session Friday, with prices rising nearly $5 before settling higher by less than $3.

Down day, down week

Stocks slumped Friday, ending a tough week on a low note as renewed worries about the credit market crisis and inflation sent the Dow to a three-month low.

UBS to expose offshore fraud

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Canadian Court approves BCE buyout

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Dow off 220, hits lowest level since March

The market is gripped by broad selling. Worries that Israel will attack Iran's nuclear facilities drive crude oil above $134 a barrel, and few expect the weekend's oil summit in Saudi Arabia to bring relief. Financial stocks weaken; GM and Ford sag on a worsening outlook for auto sales.

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[Source: MSN Money Latest Articles]

Inventor's device helps save his own flooded neighborhood

On any normal day of the year, Stacey Babiarz runs a small welding shop and storage business with his family. But the last eight days in Edgerton, Wisc., have been anything but normal: Babiarz, creator of a device that rapidly fills sandbags to hold back floodwaters, has been putting his invention to work in his own backyard.

Gates' 4 golden rules

Think of software as a utopian tool. "Thirty-three years ago the company was founded on the proposition that software would be important," says Gates. "Looking at the next decade, the value that will be created by software and popular software platforms will be greater than ever."

NFL, ESPN talking partnership

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Friday, June 20, 2008

WaMu cuts 1,200 jobs

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Wednesday, June 25, 2008

Tuesday, June 24, 2008

Monday, June 23, 2008

Saturday, June 21, 2008

Friday, June 20, 2008

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