Lucky Somali pirates’ haul was $120 million richer than they thought
Filed under: Energy, Economy, Media
Contrary to earlier published reports, the hijacked U.S.-bound oil tanker Maran Centaurus is carrying about $140 million worth of Saudi crude — not the $20 million previously claimed — DailyFinance has learned. Reached in Greece Tuesday, a representative for Maran Tankers Management, the ship’s owner, confirmed that the Centaurus is carrying about 2 million barrels of oil.
At today’s market rate of around $70 per barrel, that would mean the 1,085-foot supertanker is carrying $140 million worth of oil, said John van Schaik, the New York bureau chief for the Energy Intelligence Group, a leading industry authority. Previously, the Associated Press had reported that the ship was only carrying $20 million worth of oil. The correct number indicates that the pirates have a much more valuable cargo on their hands.
Continue reading Lucky Somali pirates’ haul was $120 million richer than they thought
Lucky Somali pirates’ haul was $120 million richer than they thought originally appeared on DailyFinance on Tue, 15 Dec 2009 16:00:00 EST. Please see our terms for use of feeds.
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Lucky Somali pirates’ haul was $120 million richer than they thought
Tags: bloodpressure, centaurus, crude oil, deals-today-, gilead-sciences, hijacking, in focus, maran-centaurus, media
ExxonMobil buys gas, as Big Oil plans for a renewable-energy future
Filed under: Energy, Company News, Economy, Exxon Mobil, Green
These days, everyone wants a piece of the rock — domestic shale, that is. With oil-drilling costs north of $3.5 million per well and natural gas trading below $3, global energy companies are all about American shale. In November, Europe’s second-largest supplier of natural gas, Norwegian-based StatOilHydro (STOHF), signed a $3.4 billion agreement in November to acquire 32.5% of Chesapeake Energy’s (CHK) 32,000 shale-gas leases in Pennsylvania, West Virginia, New York, and Ohio.
Continue reading ExxonMobil buys gas, as Big Oil plans for a renewable-energy future
ExxonMobil buys gas, as Big Oil plans for a renewable-energy future originally appeared on DailyFinance on Tue, 15 Dec 2009 15:40:00 EST. Please see our terms for use of feeds.
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ExxonMobil buys gas, as Big Oil plans for a renewable-energy future
Tags: boozallenhamilton, chesapeake, companies-are, devonenergy, domestic-shale, energy, europe, exxonmobil, georgia, hijacking, in focus, maran-centaurus, norwegian-based, shalegas, xto energy
New taxes take the shine off Chinese real estate — shares plummet in HK and Shanghai
Dec 15, 2009 Object
Filed under: Economy, Investing, Real Estate
In Asia Tuesday, shares closed lower. The Shanghai Composite Index lost 0.9%, closing at 3,274 and in Hong Kong, the Hang Seng Index was down 1.3% at 21,814. Japan’s Nikkei 225 Index shed 0.2%, ending the day at 10,083.
In China, declines were led by property developers as investors reacted to the government’s reinstatement of property taxes for homes sold within 5 years of purchase. Prices for residential homes in China’s 70 largest cities spiked 5.7% in November alone, and fears of a bubble are seeming more and more likely to be realized. “We have modest real estate bubbles that are emerging, but they are really at a very early stage,” Prasenjit K. Basu, Chief Economist at Daiwa, said on CNBC this morning. But some say the tax of 5.5% will not dampen consumer enthusiasm.
New taxes take the shine off Chinese real estate — shares plummet in HK and Shanghai originally appeared on DailyFinance on Tue, 15 Dec 2009 07:00:00 EST. Please see our terms for use of feeds.
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New taxes take the shine off Chinese real estate — shares plummet in HK and Shanghai
Tags: a-friend-via, a-very-early, china real estate, decision-will, in focus, indication, inflation-data, investors-from, largest-cities, shanghai, sundays, which-country
No requiem for the desktop: Apple’s designs help revive the fading platform
Dec 14, 2009 Object
Filed under: Apple
In our mobile world over which laptops and smartphones increasingly rule, desktops are starting to go the way of eight-track tapes and rotary-dial phones. No one, apparently, bothered to tell Apple (AAPL) — or its loyal customers. The company posted better-than-expected sales for its computers in October and November, thanks largely to the strength of its desktop models, says prominent analyst Gene Munster of investment bank Piper JaffrayTech.
Citing figures from sales tracker NPD Group, the noted Apple bull said sales of Mac computers for the the two months are running roughly 21% over the same period last year, well ahead of Wall Street’s 14% consensus estimate for sales growth. The new iMac and Mac mini units seem to be leading the charge, with the sales of these and other Apple desktop products up 74% in unit volume year-over-year for the third quarter thus far, Munster says.
Continue reading No requiem for the desktop: Apple’s designs help revive the fading platform
No requiem for the desktop: Apple’s designs help revive the fading platform originally appeared on DailyFinance on Mon, 14 Dec 2009 20:20:00 EST. Please see our terms for use of feeds.
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No requiem for the desktop: Apple’s designs help revive the fading platform
Tags: a-friend-via, apple, designs-help, fading, in focus, investment-bank, mac mini, macmini, over-the-same, piper-jaffray, sales, strength
Chase backlash: 1,000 homeowners protest at bank’s Manhattan HQ
Filed under: Company News, Economy, JP Morgan Chase, Bank of America, Citigroup, Wells Fargo & Co., Real Estate
An estimated 1,000 representatives of the Neighborhood Assistance Corporation of America (NACA) paid a visit on Monday morning to JPMorganChase (JPM) CEO Jamie Dimon. Carrying signs reading “Chase Get On the Bus,” “Chase Say Yes,” and “Don’t CHASE Us Out of Our Homes,” the protesters briefly occupied the lobby of 1 Chase Plaza, in New York’s financial district, where the company has offices.
Continue reading Chase backlash: 1,000 homeowners protest at bank’s Manhattan HQ
Chase backlash: 1,000 homeowners protest at bank’s Manhattan HQ originally appeared on DailyFinance on Mon, 14 Dec 2009 18:30:00 EST. Please see our terms for use of feeds.
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Chase backlash: 1,000 homeowners protest at bank’s Manhattan HQ
Tags: bankofamerica, citibank, in focus, investment-bank, macmini, naca, over-the-same, piper-jaffray, savethedream, signs-reading, strength, visit-on-monday, wells-fargo
Wall Street tries to make nice with Obama
Dec 14, 2009 Object
Filed under: Economy, Goldman Sachs , Bank of America, Citigroup
After President Obama smashed Wall Street for being out-of-touch “fat cats” on 60 Minutes over the weekend, the bankers tried to mend fences during a meeting at the White House on Monday.
Whether any detente will last is not clear. Obama, whose coolness under pressure was legendary during the campaign, clearly was annoyed with the banks for failing to do enough to jump start the economy after U.S. taxpayers spent hundreds of billions of dollars rescuing them, and he urged them to lend more to small-and mid-sized businesses and to do more to help homeowners in danger of losing their homes.
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Wall Street tries to make nice with Obama originally appeared on DailyFinance on Mon, 14 Dec 2009 18:15:00 EST. Please see our terms for use of feeds.
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Wall Street tries to make nice with Obama
Tags: after-president, america, bac, businesses-and, homes, in focus, investment-bank, savethedream, strength, tarp, under-pressure, white-house, whitehouse
John Hussman: Stocks are priced to disappoint for a decade
Dec 14, 2009 Object
Filed under: Investing
It’s not hard to find folks who think stocks are way too expensive relative to their earnings prospects, perhaps even matching tech-bubble levels. But when John Hussman says shares are priced to disappoint, intelligent investors would do well to pay attention.
Hussman’s hardly a household name, but the highly successful money manger’s funds — Hussman Strategic Growth (HSGFX) and Hussman Strategic Total Return (HSTRX) — have delivered annualized returns of 8.6% and 7.9%, respectively, since their 2000 and 2002 debuts. (They’re cheap, too: The growth fund’s net expense ratio comes to 1.09%, while total return charges just 0.79%.)
Continue reading John Hussman: Stocks are priced to disappoint for a decade
John Hussman: Stocks are priced to disappoint for a decade originally appeared on DailyFinance on Mon, 14 Dec 2009 13:30:00 EST. Please see our terms for use of feeds.
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Tags: 2002-debuts-, accenture, household-name, hussman, in focus, informationtechnology, investing, johnhussman, mutual-funds, optimization, portfolio, return-charges, share prices, total-return
Wall Street Journal versus New York Times: It is so on!
Filed under: People, Media, New York Times Co., News Corp.
Tensions between The New York Times and The Wall Street Journal are on the rise as the two papers increasingly compete for the same pool of general-interest and local-market readers. A column by Times media critic David Carr accusing the Journal of slanting its news coverage in the conservative direction favored by owner Rupert Murdoch has drawn a sharp response from the Journal’s managing editor, Robert Thomson — who offers a pretty stinging accusation of his own.
Thomson says the article by “a Mr. David Carr” constitutes “yet more evidence that The New York Times is uncomfortable about the rise of an increasingly successful rival while its own circulation and credibility are in retreat.” He criticizes Carr for relying on “a succession of anonymous quotes and unsubstantiated assertions” to make his case.
Continue reading Wall Street Journal versus New York Times: It is so on!
Wall Street Journal versus New York Times: It is so on! originally appeared on DailyFinance on Mon, 14 Dec 2009 12:40:00 EST. Please see our terms for use of feeds.
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Wall Street Journal versus New York Times: It is so on!
Tags: household-name, hussman, in focus, informationtechnology, johnhussman, optimization, people, portfolio, pretty-stinging, return-charges, robert thomson, robertthomson, rupert-murdoch, rupertmurdoch, street
People@Work: Social media’s a boon for job seekers, but keep a sharp resume too
Dec 14, 2009 Object
Filed under: Columns, Economy, People
Perhaps you’ve heard the one about the guy who sent a single “tweet” and got a job? It’s pretty entertaining, but it’s no joke. Freelance graphic designer Hal Thomas did just that in response to an ad posted by BFG Communications. The ad requested job candidates apply for the position with one message posted to social media network Twitter. Thomas’ winning submission, which included a mock-up of a Wired magazine cover he created to showcase his talent, landed him the job and created buzz within social media circles.
Continue reading People@Work: Social media’s a boon for job seekers, but keep a sharp resume too
People@Work: Social media’s a boon for job seekers, but keep a sharp resume too originally appeared on DailyFinance on Mon, 14 Dec 2009 12:15:00 EST. Please see our terms for use of feeds.
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People@Work: Social media’s a boon for job seekers, but keep a sharp resume too
Tags: a-boon-for, a-sharp-resume, facebook, hal thomas, heard-the-one, hussman, in focus, job search, johnhussman, return-charges, rupertmurdoch, street, tweet
China property stocks tumble, Hong Kong’s Foxconn surges on iPhone 4G rumor
Dec 11, 2009 Object
Filed under: Economy, Investing
In Asia today Japan’s Nikkei 225 Index gained 2.5% to 10,108 and Hong Kong’s Hang Seng Index rose 0.9% to 21,902. In China, the Shanghai Composite Index closed at 3,247 — down 0.2%.
In China, property developers stocks fell on worries that the government will increase interest rates and tighten lending policies. The country’s largest real estate companies suffered losses with both China Vanke (CVKEF) and Poly Real Estate sliding 1%. Gemdale, which builds residential tower buildings in cities including Shenzhen, Shanghai and Xi’an sank 0.8%. The company has also undertaken projects to develop entire European-style communities with names like Gemdale Green Town, which it describes as having “international-standard German-style buildings and beautiful landscape,” situated in a resort area.
Continue reading China property stocks tumble, Hong Kong’s Foxconn surges on iPhone 4G rumor
China property stocks tumble, Hong Kong’s Foxconn surges on iPhone 4G rumor originally appeared on DailyFinance on Fri, 11 Dec 2009 07:00:00 EST. Please see our terms for use of feeds.
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China property stocks tumble, Hong Kong’s Foxconn surges on iPhone 4G rumor
Tags: a-resort-area-, apple, asian market, entry, hang seng, in focus, infocus, interest rates, news, not-necessarily, shanghai composite, through-jobs
