Climate to Warm Beyond Levels Seen for 11,300 Years
Investors Seek Ways to Profit From Global Warming
Investing in climate change used to mean putting money into efforts to stop global warming. Morgan Stanley (MS), Goldman Sachs (GS), and other firms took stakes in wind farms and tidal-energy projects, and set up carbon-trading desks. The appeal of cleantech has dimmed as efforts to curb greenhouse gas emissions have faltered: Venture capital and private equity [...]
State and local governments are in desperate need of cash for all manner of road, building and bridge repair, and are increasingly turning to private money for funding.
But the involvement of private investors is raising concerns over how much control the public may lose over its roadways.
Companies putting up the money include construction and engineering firms like Bechtel and Samsung, and big banks like Goldman Sachs (GS, Fortune 500) and Merrill Lynch that aim [...]
U.S. stocks are battling one of the most important trendlines in history
From Kimble Charting Solutions:
CLICK ON CHART TO ENLARGE
At the same time the Dow is at the top of its channel, one can’t help but notice the potential that a rising wedge looks to be forming, that would suggest a two-thirds chances of lower prices on the Dow.
The Dow is in somewhat of a jam at (1) in the chart above, reflecting that [...]
Profit Outlooks 90% Negative, Wages Are Down, Revenue Streams Are Drying Up, Cost Cutting Measures Are Maxed Out, And US Government Debt Threatens National Security
Earnings Cliff Ahead? Profit Outlooks 90% Negative
CNBC: Earnings conference calls are beginning to resemble crisis hotlines as corporate executives slash profit forecasts because of fears of higher taxes, a recession in Europe and slowing economy in China.
Of the 20 companies in the S&P 500 (^GSPC) that have provided [...]
An equity strategist for Goldman Sachs [GS 106.80 1.08 (+1.02%) ] is predicting a September selloff that happens so rapidly he is telling clients to protect themselves before Sept. 14.
The reason: Market disappointment over key meetings of the European Central Bank and Federal Reserve—all within the next 10 days.
An ECB Governing Council meeting takes place this Thursday amid growing expectations that ECB President Mario Draghi will lay out some dramatic measures, such as bond purchases or [...]
JPMorgan Chase & Co. (JPM), Goldman Sachs Group Inc. and BlackRock Inc. (BLK) closed European money market funds to new investments after the European Central Bank lowered deposit rates to zero.
JPMorgan, the world’s biggest provider of money-market funds, won’t accept new cash in five euro-denominated money- market and liquidity funds because the rate cut may result in losses for investors, the company said in a notice to shareholders. Goldman Sachs won’t accept new money in its GS Euro [...]
New York’s biggest investment houses are shifting jobs out of the area and expanding in cheaper locales in the United States, threatening the vast middle tier of positions that form the backbone of employment on Wall Street.
The shift comes even as banks consider deeper staff cuts here, which could undermine the state and city tax base long term.
“Places like New York or London will remain financial centers, but most of [...]
Microsoft Corp is looking at making its own smartphone to kickstart sales of its Windows mobile software, according to a Wall Street analyst who has followed the company for many years.
The talk – unconfirmed by Microsoft [MSFT 30.2801 0.1451 (+0.48%) ]— comes a day after the company unveiled its latest Windows Phone 8 software, and the same week it announced an own-brand tablet, signaling a break with 37 years of focusing on software and leaving [...]
U.S. stock-index futures fell as JPMorgan (JPM) Chase & Co., the nation’s biggest bank by assets, said it had a $2 billion trading loss after positions in credit securities proved riskier than expected.
JPMorgan tumbled 6.7 percent in pre-market New York trading as Chief Executive Officer Jamie Dimon said the bank made egregious mistakes and that trading losses were “self inflicted.” Bank of America Corp., Citigroup Inc. (C), Goldman Sachs [...]
By John Grgurich, The Motley Fool
Federal Reserve Gov. Daniel Tarullo said something earlier this week that should cause the ears of every adult in the country to prick up: While America’s big banks are in better overall shape than they were just before the start of the 2008 financial crisis, there’s still “room for improvement at virtually every firm.”
Considering how quickly the big banks started to circle the drain after Lehman [...]
By Henry Blodget | Daily Ticke
Another PR disaster is unfolding for Goldman Sachs (GS), the Wall Street investment bank that has already borne the brunt of popular wrath in the aftermath of the financial crisis.
A senior executive at the firm, Greg Smith, quit today in spectacular fashion, announcing his resignation in a Scathing New York Times Editorial in which he accused the firm of gleefully “ripping off” its clients and succumbing to short-term greed.
Within today’s [...]
By Al Lewis
DENVER (MarketWatch) — America’s economy began with agriculture and evolved, over centuries, into high finance.
At one end of this historical spectrum is Dean Tofteland, 50, who has been raising corn, soybeans and pigs on 2,600 acres in southwestern Minnesota for the past quarter century.
On the other is Jon Corzine, who within the same quarter century served as chairman of Goldman Sachs GS +2.09% , New Jersey’s governor, [...]
Does the Fed print money?
Our recent attempt to answer this seemingly simple question prompted a torrent of comments, much of it negative and unfit for publication on a family-friendly Web site. (See: No, the Fed Does NOT ‘Print Money’: Just Explain It)
In the accompanying video, Jim Bianco, president of Bianco Research, offers bit more sophisticated critique of our coverage on this controversial issue.
While the U.S. Treasury does indeed control the printing [...]
by Dr. David Kass
On September 24, 2008, Berkshire Hathaway (BRK.A), (BRK.B) and Goldman Sachs (GS) entered into an agreement in which Berkshire Hathaway purchased $5 billion of Goldman’s preferred shares paying a 10% dividend. Berkshire also received warrants granting it the right to buy $5 billion of Goldman Sachs common stock at $115 per share (or 43.5 million shares) through October 1, 2013.
Goldman Sachs called the preferred stock for redemption on April 18, [...]
Shares of Jefferies and Fortress crater on fears of MF Global contagion.
NEW YORK (CNNMoney) — MF Global is no Lehman Brothers. It doesn’t have the size or the tentacles to put the entire global system at risk.
Still, MF Global’s Chapter 11 filing is spreading contagion to other financial firms around Wall Street, helping crater the stocks of companies with big trading desks like Jefferies and Fortress Investment Group.
MF Global’s fall from [...]
Warren Buffett’s Berkshire Hathaway said it will make a $5 billion investment in Bank of America.
The news sent Bank of America [BAC 8.14 1.15 (+16.45%) ] shares sharply higher, and also pushed up U.S. stocks.
Berkshire Hathaway [BRK.A 106899.00 549.00 (+0.52%) ] said Bank of America would sell it 50,000 preferred shares at $100,000 a piece. The preferred stock has a dividend of 6 [...]
By: Lee Brodie
”I would be cautious to make anything of it until we hear much, much more,” echoes Karen Finerman.
Those were the gut reactions from the Fast Money traders as they looked at the sharp sell-off in shares of Goldman Sachs [GS 106.51 -5.25 (-4.7%) ] on Monday after Reuters reported that CEO Lloyd Blankfein had retained high-profile criminal defense lawyer Reid Weingarten.
The move comes amid continuing investigations [...]
By Andrea Hotter
Of DOW JONES NEWSWIRES
LONDON (Dow Jones)–JP Morgan (JPM) has become the latest bank to up its forecast for spot gold prices, hiking its estimates by a whopping 39% and predicting the precious metal to reach at least $2,500 a troy ounce by the end of the year.
This is almost $800/oz higher than current levels, which represent an all-time [...]
NEW YORK (CNNMoney) — California secured a $5.4 billion loan to see it through the financial market turbulence that could hit if federal policymakers don’t solve the debt ceiling impasse by Aug. 2.
Eight major financial institutions, including Goldman Sachs (GS, Fortune 500) and Wells Fargo (WFC, Fortune 500), put up the funds, which will help the state with its daily cash flow needs. Also, the money [...]
As Goldman Sachs (GS) plans major job cuts in the United States, the firm is planning to expand overseas with a major hiring spree in Singapore and taking the unusual step of alerting Congress before even it’s widely known to its own shareholders, the FOX Business Network has learned.
Goldman is so concerned about the potential for criticism that the firm’s representatives have been alerting [...]
* Senator Levin: Goldman Sachs misled clients, Congress
* Deutsche, Moody’s, S&P all criticized in new report
By Kevin Drawbaugh
WASHINGTON, April 13 (Reuters) – In the most damning official U.S. report yet produced on Wall Street’s role in the financial crisis, a Senate panel accused powerhouse Goldman Sachs of misleading clients and manipulating markets, while also condemning greed, weak regulation and conflicts of interest throughout the financial system.
Carl Levin, chairman of the [...]
Posted by Colin Barr
December 29, 2010 1:27 pm
The nation’s top antitrust cop urged regulators to stiffen derivatives trading rules -
or risk having giant banks join up to make a mockery of financial reform.
The Justice Department said Tuesday that rulemaking proposals floated this fall by the Securities and Exchange Commission and the Commodity Futures Trading Commission “may not sufficiently protect and promote competition in the industry.”
Smooth landing not [...]
As we are going through the excel sheets from the Fed dump, we will share our key findings. Keep in mind this is very raw data and will need far more processing before conclusions can be derived.
Probably the most interesting data is the disclosure of the Fed purchases of MBS securities from the Primary Dealers as for the first time ever we get information on the [...]
by Michael Shedlock
A revealing infographic separates America’s real corporate cash cows (GS, AAPL, GOOG, MSFT, INTC, QCOM) from the charlatans (JPM, BAC, T, CMCSA, VZ, IBM, GE). Bottom line: after factoring in debt, it’s not $3.7T sitting on the sidelines, but rather -$750B.
There are a lot of claims by mainstream media regarding cash on the sidelines and corporate cash levels.
Except for a handful of isolated companies, predominantly technology, claims [...]
Goldman Sachs (GS) will divide $3.8B among 35,400 employees in Q3, a pay pool reduced significantly from the year-ago period, FT reports. The cuts result from a slump in the bankâ€™s profit as a result of a slowdown in trading, as well as the glare of the spotlight over salary and bonuses. But overall, Wall Street pay remains rich indeed.
Goldman set aside $3.8bn for compensation and benefits [...]
In an effort to rush through thousands of home foreclosures since 2007, Bank of America (BAC), JPMorgan Chase (JPM) and Goldman Sachs (GS) hired anyone from hair stylists to assembly line workers who barely knew what a mortgage was and installed them in â€œforeclosure expertâ€ jobs with little training, depositions say.
Robo-Signers Wanted: No Experience Needed
In an effort to rush through thousands of home foreclosures since [...]