Global stock market legend, Warren Buffett said today, that the US government is doing the right things that are countercyclical. He said that he can’t predict how quickly the economy and the market will recover.
He was speaking just before the beginning of the Berkshire investments general meeting, which is expected to attract over 350000 [...]
The US FED authorities are worried about releasing the bank Stress test results in full form. They fear that such announcement could lead to collapse of the share price of weak banks.
Also the authorities are discussing the test results in detail with the examiners, and finalizing a palatable format.
The announcement of the results in full, [...]
Key US FED officials are worried about the planned release of the complete results of the Stress-tests carried out on 19 of the US big banks. They fear that few of the banks which have been identified as weak, could see their share prices plummet, which in turn could make capital raising difficult for them.
That [...]
Year 2008 has not only hit the poor people and the middle class, it has also hit the UK billionaires badly.
In 2007 there were 75 billionaires in UK which has crashed to just 43 by the end of 2008.
That means 32 erstwhile billionaires have seen part of their fortunes vanishing and they got downgraded to [...]
IMF is likely to resort to issuing bonds for the first time in the 64 year history of the international institution.
IMF wants to issue the bonds to developing countries like China and Brazil to support the funding needs of other weak countries in the world.
Even countries like South Korea and many of the European Countries [...]
The Central bank of India has cut down the bank interest rates by another 25 basis points from 4% to 3.75% . It unveiled its busy season policy today and it painted a grim picture for the economy. It has projected a lower growth rate for the current year at less than 6%.
It has also [...]
Citigroup has reported a 1.2 billion dollar profit for the first quarter of 2009, which looks very good at first look. But a deeper analysis of the numbers show that the profits are indeed due to accounting rule changes and also abnormally low provisioning.
The second largest Bank in US, Bank of America, also reported a [...]
Year 2009 has started on a better note as per US President and FED chief and so many other leading personalities, but the actual data reveals something else.
US closed down 25 banks in the full year 2008, but within 100 days of 2009, the country has closed down 29 banks. This is only an indication [...]
Last week , Wells Fargo, took the global financial market by surprise by reporting a record profit for the first quarter.
Now it is the turn of Goldman Sachs, which has reported a 1.8 billion dollar profit in the first quarter, which beat analyst estimates by a huge margin.
The company seems to have benefited from the [...]
The US FED is doing all the best possible to revive back the sagging economy. The US FED has now reduced their bank interest rates to near zero level, not done in the last several decades. This only indicates the really bad state of the economy.
The US FED has also indicated that the current low [...]
