All Posts Tagged With: "global credit crisis"
Heads Roll at Lehman Brothers
This week saw Lehman Brothers replace two of its top executives: CFO Erin Callan and COO Joseph Gregor. The two will remain at the bank in lesser roles.
“As recently as a month ago,” says Justice Litle in Taipan Daily, “Erin Callan was on top of the world.”
The WSJ did a glowing piece on her rise through the ranks. Condé Nast’s Portfolio magazine dubbed her the most powerful woman on Wall Street.
BusinessWeek: 95% Chance of US Recession
There is a 95% chance that the US economy will enter a recession, according to a report in BusinessWeek magazine.
Jennifer Yousfi in Money Morning gives some background and examines strategies for recession proof investing:
U.S. Federal Reserve policymakers cut the benchmark interest rate by less-than-expected three-quarters of a percentage point at their last meeting, a move that was designed to energize a badly flagging economy without causing inflation to spike or exacerbating the greenback’s decline.
House Price Crash UK: Prices to Fall 10% by 2010
A new report by Paris-based economic think tank the OECD warns of a severe house price crash in the UK.
The report predicts that UK house prices will crash by 10% by 2010 and that, with consumer spending slowing, the Bank of England will eventually need to cut interest rates by three-quarters of a percentage point to 4.25% next year.
Ben Traynor in The Daily Reckoning explains how a house price crash in the UK will affect the country’s economy…
Lehman Brothers Expected to Pull Through
Lehman Brothers, the fourth largest US investment bank, is at the centre of a storm of bad news stories.
Shares in the Wall Street powerhouse tumbled 31% last month on the NYSE on expections of heavy Q2 losses and the likelihood that the bank will have to raise cash to cover subprime-related writedowns. However, unlike rival Bear Stearns, the word on the Street is that Lehman will survive.
“On Wall Street, after Bear Stearns fainted, the other financial firms took smelling salts,” says Bill Bonner in The Daily Reckoning.
Housing Crisis Hits Manhattan
Home prices in Manhattan have remained largely immune from the housing crisis gripping the US… until now.
According to Reuters, the New York real-estate market is showing a significant reduction in new deals as Wall Street sheds staff to reduce costs.
“For the most part, the subprime crisis is past its inflection point,” says Eric Roseman in the Offshore A-Letter. “What matters now is how and when other credit indicators normalize.”
The 10 Hottest Global Investment Trends to Follow for the Next 18 Months
There’s an old Wall Street adage that tells us that “the trend is your friend.” And there’s a witty bit of wisdom we’ve developed here at Money Morning to help guide our readers and us that says: “Go global or go home.”
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