Archive for the “Investors” Category
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WASHINGTON – A House lawmaker said Friday that internal Toyota documents show the automaker deliberately withheld key vehicle design and testing evidence in lawsuits filed by Toyota drivers injured in crashes.
In a letter to Toyota’s top North American executive, House oversight committee Chairman Edolphus Towns accused Toyota of shielding its testing data on potential problems with Toyota vehicles.
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Bonus, given again. Why so much to handle money? What did he and all the others do to desire that big of a bonus? A lot of Americans do a good job every day and we are lucky we get paid. I didn’t understand why they have to get so much for a bonus.
Full Story at money.cnn.com
NEW YORK (CNNMoney.com) — Goldman Sachs stunned many in the Wall Street community Friday by awarding chief executive Lloyd Blankfein $9 million as his year-end bonus, far less than many were anticipating, and none of it in cash.
Following weeks of speculation about what the top executive at Wall Street’s leading investment bank would take home as his discretionary pay for 2009, the company revealed in a securities filing it was paying Blankfein 58,381 shares of company restricted stock.
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LOS ANGELES – Moviegoers have shown a willingness to be entangled by Spider-Man’s web over and over again. Now, as Disney prepares to buy the comic-book powerhouse Marvel, it faces the question of whether fans will also get attached to characters as obscure as Ant-Man and Iron Fist.
The Walt Disney Co. is making a $4.2 billion bet that they will as it nears completion of its acquisition of Marvel Entertainment Inc. this week.
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Full Story atmoney.cnn.com
NEW YORK (CNNMoney.com) — Stocks were poised for a mixed start Thursday as investors awaited some reports on the labor market.
Dow Jones industrial average futures were lower, while Nasdaq-100 and S&P-500 futures were up slightly.
Futures measure current index values against their perceived future performance and offer an indication of how markets may open when trading begins.
Stocks rose Wednesday as the falling dollar boosted commodity stocks, and a rise in wholesale inventories and an upgrade of 3M provided some optimism.
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Full Story at Bloomberg.com
Dec. 7 (Bloomberg) — The Obama administration expects the cost of the Troubled Asset Relief Program to be $200 billion less than projected, helping to reduce the size of the budget deficit, a Treasury Department official said yesterday.
The administration forecast in August that the TARP would ultimately cost $341 billion, once banks had repaid the government for capital injections and other investments. Congress authorized $700 billion for the program in October 2008.
Banks have paid back $71 billion so far, and a planned repayment by Bank of America Corp. would bring that figure to $116 billion. Treasury Secretary Timothy Geithner said in an interview last week that he expects the TARP to get as much as $175 billion in repayments from banks by the end of 2010.
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Full Story at money.cnn.com
Money Magazine) — Like most Americans, you’re probably pledging to save more next year — already savers are socking away cash at a better pace than they have in years (3.7% of income recently, up from just 0.2% in early 2008).
Pat yourself on the back — because your thriftiness won’t be rewarded with much more than that anytime soon.
Interest rates on savings vehicles were dismally low in 2009, and the beginning of 2010 doesn’t appear as if it will be much better. Bank savings accounts, CDs, and money markets generally track the Federal funds rate, and that has ranged between zero and 0.25% since late 2008.
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Full Story atmoney.cnn.com
NEW YORK (Fortune) — Is the Fed about to hit the brakes on the Wall Street gravy train?
A year after they survived the financial meltdown with considerable taxpayer help, Goldman Sachs (GS, Fortune 500) and Morgan Stanley (MS, Fortune 500) stand to spend $35 billion combined this year on employee compensation.
The average Goldman worker is on track to take down more than $600,000 in pay and perks — in line with levels from 2007, before the economy cracked.
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Full Story at money.cnn.com
NEW YORK (CNNMoney) — Last week’s big selloff did more than just rattle investors: it put an end to a seven-month win streak that had pushed the S&P 500 more than 60% above the March lows.
While the monthly decline was small — less than 2% — it emerged after a tumultuous week dictated by a stronger dollar, sliding energy and financial issues, and a variety of quarterly financial reports. A stronger-than-expected rise in third-quarter GDP growth — the strongest sign yet that the recession is over — provoked a one-day rally and nothing more.
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Full Story at money.cnn.com
NEW YORK (Fortune) — A year ago investors fled small gold mining stocks as the desire for high-risk assets evaporated.
Now, even after investors have flooded back into the market, top-ranked gold fund manager Mark Johnson says the junior miners are undervalued, and he’s betting on their recovery.
“The best value is at the smaller end of the scale,” says Johnson, who is in his 16th year running USAA’s Precious Metals and Minerals fund (USAGX).
Junior miners are those with less than 250,000 ounces of annual gold production, which equates to roughly $250 million in revenue at gold’s current price.
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Full Story atmoney.cnn.com
LONDON (CNNMoney.com) — U.S. stock futures rose Friday, supported by solid results from Google, although gains were slight as investors awaited more earnings reports.
At 4:41 a.m. ET, S&P 500, Nasdaq-100 and Dow Jones industrial average futures were a shade higher.
Futures measure current index values against their perceived future performance and offer an indication of how markets may open when trading begins.
Stocks have been on a roll recently. The Dow hit a fresh one-year high Thursday and closed above the 10,000 mark for the second straight session.
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Full Story at CNNMoney.com
LONDON (CNNMoney.com) — U.S. stock futures edged lower Tuesday as investors expressed caution ahead of a slew of earnings reports.
At 4:45 a.m. ET, S&P 500, Nasdaq-100 and Dow Jones industrial average futures were a shade lower.
Futures measure current index values against their perceived future performance and offer an indication of how markets may open when trading begins.
Investors are on edge ahead of a wave of third-quarter earnings this week.
They also may pause for breath after pushing the Dow to a fresh one-year peak on Monday.
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Full Story at money.cnn.com
NEW YORK (Reuters) — General Electric Co. is holding talks to sell 51% of NBC Universal to Comcast Corp., which would pay up to $7 billion in cash and contribute some programming assets to the new, jointly owned company, according to a person familiar with the matter.
GE (GE, Fortune 500), which owns 80% of NBC Universal, is considering a host of proposals for NBC Universal as partner Vivendi SA explores whether to sell its 20% stake.
At the moment, however, a deal with Comcast (CMCSA, Fortune 500) appears to be the most likely outcome, though the source said discussions are still in the early stages and could fall apart.
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