Short-sellers scrambling for cover sent shares of Volkswagen AG (OTC ADR: VLKAY) rocketing up more than $1,000 each Tuesday, to briefly give the German automaker the most valuable market capitalization in the world.
Tighter credit for farmers could worsen a global food crisis as smaller crop sizes cause prices to soar. Many farmers have traditionally bought pre-season supplies such as seeds and fertilizer on credit and then paid off the debt with the proceeds from the year’s harvest. But with a growing number of farmers unable to obtain the credit they need, crop yields will suffer.
Consumer prices held steady as the credit crisis took a toll on the sluggish U.S. economy and dampened inflation. The Labor Department announced yesterday (Thursday) that the Consumer Price Index (CPI) was unchanged in September after declining 0.1% in the prior month.
A government-backed rescue of Fannie Mae (FNM) and Freddie Mac (FRE) could end up costing $25 billion in taxpayer money according to a letter released yesterday (Tuesday) by the Congressional Budget Office (CBO).
Anheuser-Busch Companies Inc. (BUD) will end more than150 years as a family-controlled company with its acceptance of a $70-per-share offer from Belgium-based InBev NV, which puts a $52 billion price tag on the iconic American brewer.
The Boeing Co. (BA) got some hard won good news yesterday (Wednesday) when Secretary of Defense Robert Gates announced the U.S. Air Force would reopen bidding on a disputed $35 billion contract based on findings of the Government Accountability Office.