Contrary to popular belief, noted technical analyst Robert Prechter says the extraordinary action taken by the Federal Reserve to bail out the economy will not lead to runaway inflation.”Deflation is gaining the upper hand very, very slowly, but it’s
From paidContent.org, Feb. 24, 2010: It’s no secret that Disney
would like to get another crack at the Olympics and plans to bid for
rights to the 2014 and 2016 games.The last time ABC had rights to the
Olympics was 1988—before e-mail was u
In February 2009, Robert Prechter of Elliott Wave International predicted a market rally that would be “sharp and scary for anyone who is short.”In recent months, Prechter returned to more familiar territory,
Wednesday’s highlights:
* Top executives at two of the five largest U.S. airlines said they are open to a merger, adding that the airline industry needs to consolidate to return to profitability
* The European Commission is considering complaints from three online companies regarding Google Inc’s practices including its search rankings, the company says
* Beijing has rejected a bid by an obscure Chinese industrial equipment maker to buy GM’s money-losing Hummer brand, a source said, dealing a possible death blow to the controversial deal
* State Bank of India , India’s largest lender, is in talks with Bharti Airtel over the telecoms firm’s funding to acquire the African assets of Kuwaiti firm Zain , SBI’s chairman says
* An Apple Inc senior executive says the iPhone and Mac maker has looked at large companies as part of its mergers and acquisition strategy, but none have passed muster
For more on these and the rest of the latest deal-related news from Reuters, click here
And here’s what we found elsewhere (some external links may require subscriptions):
* Private equity bidders for Interactive Data Corporation, the financial data group majority-owned by Pearson, have begun to join forces ahead of the second round of an auction that could require them to sign a $1bn equity cheque, the FT says
* RAB Capital, the London hedge fund manager that bet on the recovery of Northern Rock and lost, is to auction investors’ stakes in its beleaguered flagship fund, the FT reports
* New York-based SkyBridge Capital is in advanced talks to purchase Citigroup Inc’s (C.N) $4 billion hedge fund business, according to the Wall Street Journal
* Blockbuster Inc (BBI.N) has hired a law firm and an investment bank to explore how the video rental firm can cut its $1 billion debt load, the WSJ says
Toyota CEO Akio Toyoda took responsibility for the safety crisis gripping the Japanese automaker Tuesday in prepared testimony before a House committee. The CEO and grandson of Toyota’s founder is scheduled to testify Wednesday. Meanwhile, the head of U.S
President Obama is back at it: On Monday he unveiled a new $950 billion plan that borrows heavily from the bill the Senate already passed and likely marks his last pass at health-care reform. This White House Plan includes:– Creation of insurance marketp
Stocks were weak early Tuesday afternoon after consumer confidence took an unexpected tumble in February, offsetting the seventh-straight monthly increase in the Case-Shiller Index.”We’re seeing some recovery in the housing market…but we still have
Crude oil prices are on a tear, hovering around $80 per barrel after a 3-week rally. Yet, all this is happening as the dollar has strengthened and inventories remain relatively high.What’s going on?Stephen Schork, editor of the Schork R
From The Business Insider, Feb. 23, 2010:Consumer confidence missed consensus expectations by a wide margin, coming it at just 46.0 vs. 55.0 expected. This was also a substantial drop form January’s 56.5 reading.Markets are tanking.The worst part of the r
Today’s relatively “cheap” gas won’t last, says Stephen Schork, editor of the
The Schork Report. This summer, gas will likely be back over $3 a gallon
again.Why?Because refiners, the folks who make crude oil into
gasoline, are getting kill
From The Business Insider, Feb. 23, 2010: Yesterday we pointed out that the yield curve was taking over as the chief story in the US markets, and today will likely confirm that.
First we had the comments from BoE chief Mervyn King
The economy continues to struggle toward recovery, but one major problem remains: Jobs.Specifically, the lack thereof.Until we get strong job growth, consumer spending will likely remain weak. (It’s hard to go hog wild at the mall when you’re living on un