General Motors is Shutting Sweden’s Saab
Friday, December 18th, 2009GM is shedding the Saab, Saturn, Hummer and Pontiac brands to focus on Chevrolet, Cadillac, GMC and Buick.
Archive for the 'NewsWire' Category
Greek Banks News Update September 2009
Friday, September 11th, 2009Alpha Bank announced on the 31st of August the completion of the sale of treasury shares. The bank confirmed it has sold through almost 1.50% of the bank’s issued common voting shares to an institutional investor through a private placement. Over 6 million treasury shares were transferred to the institutional investor at a sale price [...]
General Motors Bankruptcy Facts
Wednesday, May 27th, 2009General Motors, the once-upon-a-time largest US automaker is finally coming to terms with the bankruptcy scenarios that have been around for the past year or so.
GM had so far used up $19.4 billiion in US Treasury loans but billions more are needed to keep the giant running. So the suggested a deal to their existing [...]
Economic Data Releases
Tuesday, February 17th, 2009Today sees the release of economic sentiment in Germany and the Eurozone along with the release of UK inflation data that should once again indicate a sharp fall due to the weakening economy.
USDJPY is higher as Japanese Finance Minister Nakagawa said he would resign after budget bill had passed through parliament. Nakagawa’s decision comes [...]
Scandal Bonuses for Investment Bankers
Tuesday, February 3rd, 2009Investment bank bonuses seem to be in the centre of the global attention in the past few weeks and there is a very good reason for this. It is clear – hopefully – by now that the investment bank model resembled closely that of a casino, ie huge returns and bonuses for the insiders and [...]
GM, Chrysler Struggling to Survive
Friday, December 19th, 2008The Bush administration finally made an announcement today over a short term rescue plan for GM and Chrysler who it has been agreed to get financing until March. Treasury Secretary Paulson said that even if bankruptcy is the outcome then it’s important that it’s orderly.
UK in Recession
Wednesday, December 3rd, 2008In the UK, a full-blown recession is now unfolding: export growth set to collapse, credit crisis to hit investment, but consumption benefiting from lower oil prices. The UK suffers from a highly indebted consumer and large banking sector and benefits from a weaker sterling.
Sterling continues to suffer from expectations that the UK economy will have [...]
GMAC wants to become a BANK!
Thursday, November 20th, 2008In late September we witnessed the once-upon-a-time world’s top investment banks, and the only two survivors of the investment bank massacre, Goldman Sachs and Morgan Stanley applying for a changes in status! Quite an irony this is, if one considers the “status” they enjoyed for so long being investment bankers or smutty traders.
Now, the day [...]
Morgan Stanley Fires 10% of Staff
Thursday, November 13th, 2008Morgan Stanley, the once-upon-a-time investment bank that has recently been converted into a bank holding company to avoid bankruptcy has announced plans to cut off ten percent of its staff in the institutional securities business unit.
These cuts come in addition to headcount reductions that have been disclosed earlier this year, Chief Financial Officer Colm [...]
Car Market Crash
Friday, November 7th, 2008Ford Motor Co., General Motors Corp., and Chrysler LLC are all queuing up for cash as sales demand has dropped to record lows amid the global recession climate change… The carmakers are seeking $50 billion in federal loans to help them go through the worst auto market slump in 25 years.