Posts filed under “Financial Press”

Is Today April Fools Day?

First the Obama Peace Prize, now this headline:

Saudis ask for aid if world cuts dependence on oil

There are plenty of needy countries at the U.N. climate talks in Bangkok that make the case they need financial assistance to adapt to the impacts of global warming. Then there are the Saudis.

Saudi Arabia has led a quiet campaign during these and other negotiations — demanding behind closed doors that oil-producing nations get special financial assistance if a new climate pact calls for substantial reductions in the use of fossil fuels . . .

“We are among the economically vulnerable countries,” Al Sabban told The Associated Press on the sidelines of the talks ahead of negotiations in Copenhagen in December for a treaty to replace the Kyoto Protocol, which expires in 2012.”This is very serious for us,” he continued. “We are in the process of diversifying our economy but this will take a long time. We don’t have too many resources.”

Saudi Arabia, which sits atop the world’s largest proven oil reserves, is seeing economic growth slide because of fallout from the global meltdown, but experts still expect the country, flush with cash from oil’s earlier price spike last year, to be better able than other nations to cope with the current crisis.”

Seriously — is someone pulling our collective legs?

Category: Financial Press

Afternoon Reading

Some late Thursday linkage for your reading pleasure: • Banking Lessons We Should Have Learned (Dealbook) • Interesting Interview Jordan Kotick, Global Head of Technical Analysis For Barclays -  Philosophy & Markets are related • GOP Faces Multiple Hurdles as It Aims for a 1994 Replay (WSJ) • The Art of Finding Good Comparables (Matrix Miller)…Read More

Category: Financial Press

Wednesday Reading

Some of what I am reading today: • Financial Reform: Lessons from 1929 (BusinessWeek) • Will California become America’s first failed state? (Guardian) • Fed Frets About Commercial Real Estate (WSJ) • Why business loves Charlie Rose (CNN/Money) • U.K. Faced ‘Bank Runs, Riots’ as RBS and HBOS Neared Collapse (Bloomberg) • Office Rents Dive…Read More

Category: Financial Press

Afternoon Reading

Market up 125 +, but slowly slipping. Here is what is on my reading list for today: • Niall Ferguson: There’s no such thing as too big to fail in a free market (Telegraph) • The demise of the dollar (The Independent) • America’s most tone deaf CEO (CNN/Money) • Newspaper front pages during the…Read More

Category: Financial Press

NOT A CONTRARY INDCATOR: Why The Market Will Keep Going Up / Nowhere

I was NOT going to bother commenting on a recent BusinessWeek cover, as its Escher like approach is clearly NOT a Contrary Indicator. However, BusinessWire has forced my hand, erroneously implying it WAS:  BusinessWeek Cover: Why The Market Will Keep Going Up, writing “This can’t be good.” I believe  they misunderstood the nature of the…Read More

Category: Contrary Indicators, Financial Press

Bloomberg: Release Fed Borrowers’ Names

I expect the Fed to lose their Appeal: “The Federal Reserve should be forced to identify companies that received loans from the central bank because it can’t demonstrate that borrowers would be harmed by the disclosure, according to lawyers who won a Freedom of Information Act lawsuit. Total lending by the Fed, which last year…Read More

Category: Bailouts, Federal Reserve, Financial Press, Legal

Monday Afternoon Reading

A rather interesting and eclectic set of readings: • Inside the Crisis:Larry Summers and the White House economic team (New Yorker) • The elusive leverage ratio (Rolfe-Winkler) • Gold Is Still a Lousy Investment (WSJ) • A Look Inside the Regulatory Kitchen (Matt Taibbi) • Unemployment Becoming Leading Indicator for Pimco’s New Normal (Bloomberg) •…Read More

Category: Financial Press

Afternoon Readings

Some interesting columns worth killing a few trees for: • If Hugo Chavez Is Selling Dollars, Maybe You Should Be Buying (Barron’s) • AIG Said to Dismiss McKinsey as Benmosche Seeks to Cut Fees (Bloomberg) I have a thesis that McKinsey is the root of all evil . . . • Moody’s secretive nature described…Read More

Category: Financial Press

Comcast/NBC Deal Looks to be Real

As noted last night, Comcast is discussing a majority NBC purchase from GE: • Comcast-GE Talks Heighten Intrigue Over Fate of NBCU Its good to have low friends in high places — especially lawyers! (Thanks, David!)

Category: Financial Press, M&A

Sources: Comcast in Talks to Buy NBC

The late breaking news doesn’t seem to stop these days: “Comcast, the nation’s leading provider of cable, entertainment and communications products and services, is in talks to buy the entertainment giant NBC-Universal from General Electric, according to knowledgeable individuals. Deal points were hammered out at a meeting among bankers for both sides in New York…Read More

Category: Financial Press, M&A