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  • Fannie Mae Faces Possible De-Listing From NYSE - 19 November 2008
  • Embattled mortgage backer, Fannie Mae, revealed on Tuesday that it had received notification from the New York Stock Exchange (NYSE) that its shares currently fail to fulfill price-related requirements for listing on the exchange. One of the NYSE requirements for continued listing is that the average closing price of a stock remains above $1 per share. Fannie Mae stock was trading at levels as high as $40.45 around a year ago, but on Tuesday closed at 47 cents, underscoring just how dire the once mighty mortgage backer’s circumstances have become.

  • G20 Summit Aims For Agreement On Global Finance Regulations - 14 November 2008
  • Ahead of the much publicized G20 economic crisis summit to take place in Washington tomorrow, 15 November, President George W. Bush has come out strongly in defense of U.S.-style free enterprise, more commonly referred to as capitalism, and cautioned foreign leaders against crushing global growth by implementing restrictive rules. He is reported as saying that the aim of the summit should not be to put additional government in place, but rather that government should be smarter. Why did Bush feel the need to defend capitalism so vehemently? It appears that many of the countries that will be participating in tomorrow’s summit are laying the blame for the current crisis squarely at the feet of capitalism – and by extension the United States.

  • Federal Reserve Approves American Express Application To Become Commercial Bank - 11 November 2008
  • In an effort to remain afloat amid the global financial crisis and the dramatic slowdown of consumer spending, New York-based American Express, the United States’ largest credit-card company measured by purchases, announced that it had received approval from the Federal Reserve to operate as a commercial bank. This follows on the heels of major investment banks Morgan Stanley and Goldman Sachs making the move to commercial banking. In view of the current financial crisis which calls for swift action, the Fed fast-tracked the application’s approval by waiving the thirty-day waiting period that would normally apply to an application of this nature.

  • Companies Explore Merger Possibilities To Counteract Economic Crisis - 7 November 2008
  • Google has withdrawn from a planned advertising deal with Yahoo, due to resistance from clients and regulators. This fueled speculation that Yahoo may be an acquisition target. During a technology conference in San Francisco on Wednesday, Yahoo CEO Jerry Yang reportedly said that he was “very open minded” with regard to a full or partial merger with Microsoft Corporation. In May this year, Microsoft pulled out of a bid for Yahoo, which at the time offered as much as $33 per share. Since May Yahoo’s share price has suffered and investors are anxious for Yahoo to reconsider some sort of deal. Analysts are doubtful that Microsoft would enter into a full merger deal, but believe that a deal for Yahoo’s online search business is very possible.

  • U.S. Stock Markets Subdued Ahead Of U.S. Presidential Election - 4 November 2008
  • U.S. stock markets were rather subdued on Monday, closing practically flat ahead of Tuesday’s presidential election. The Dow Jones industrial average dropped 5.18 points (0.06 percent) closing at 9,319.83, while the broad-market Standard & Poor’s 500 index fell 2.45 points (0.25 percent) closing at 966.30 and the Nasdaq composite increased 5.38 points (0.31 percent) to close at 1,726.33. In Europe, the London FTSE gained 1.51 percent, the Paris CAC40 rose 1.17 percent and Frankfurt’s DAX rose 0.62 percent.

  • Stock Market Volatility And Trading Volumes Indicate Investors Are Still Trading - 30 October 2008
  • Tuesday saw Wall Street enjoying its second-best advance ever, but Wednesday presented a mixed bag of major stock indexes. While many have been referring to the stock market at seesawing, at times the drastic losses and gains are more like a bungee jump - and just as gut-wrenching for investors. So what are investors to make of the ongoing extreme volatility of the market? There are varying opinions among experts, but if looking for the proverbial light at the end of the tunnel, investors may want to bear in mind that this is not the first time that the market has been extremely volatile and, based on historic trends, a number of analysts believe that more stable times are not too far ahead.

  • Pension Plans/Retirement Funds Hard Hit By Economic Crisis - 27 October 2008
  • While world leaders gather in a series of meetings to discuss strategies to deal with the current global economic crisis, as well as looking into co-operative measures of preventing a repeat performance in the future, ordinary citizens are often baffled by what is going on. Many who regularly pay into retirement funds believe they are acting in a responsible manner by making provision for their later years, but have never given much thought as to how the money is invested. So, the all to frequent news headlines announcing that millions, billions and even trillions of dollars relating to retirement funds/pension plans have been “wiped out” or have “disappeared” are a major cause for concern.

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