The rising sharemarket is ignoring the shaky fundamentals that continue to haunt the global economy, writes Glenn Dyer.
Citigroup
Channel Seven to buy Fairfax?
Citigroup research released over the weekend lays out the case for a complex bid by the Seven Network to buy Fairfax Media, writes Glenn Dyer.
US back fiddling the books on GFC
As the G20 were preening and congratulating themselves, US regulators were hard at work changing their accounting standards to placate the likes of Citigroup, writes Glenn Dyer.
Bank DeathWatch: US tops sweet sixteen
US bank regulators closed two more banks at the weekend, taking the number of failures so far this year to 16, writes Glenn Dyer.
Ten becomes The Biggest Loser
As expected, shares in the Ten Network plunged this morning after it failed to get any takers for its search for a spare $90 million. writes Glenn Dyer.
Ten shares on the nose of brokers
The Ten Network’s attempts to raise up to $90 million in an issue of 120 million shares at 75 cents raises more questions than the announcement answers, writes Glenn Dyer.
Bank DeathWatch: US lenders go to the wall
Three small regional US banks were shut over the weekend, taking to six the number of failures in January, writes Glenn Dyer.
Business briefs: Citi slims down … ATM drunks shafted
Citi slims down … ATM drunks shafted … virtual tax men
Citigroup the thin end of the US wedge
The US government’s bailout of Citigroup chafes with a raft of recent economic data showing the US economy won’t stabilise until the cause of the crisis, tumbling house prices, recover writes Glen Dyer:
Bank Deathwatch: US, Dubai, Germany, Ireland — no one’s safe
Just another three days of activity in the tottering global banking system, reports Glenn Dyer.
Business briefs: Retail figures to paint a grim picture… Waiting for Black Friday
Retail figures to paint a grim picture … The Reserve Bank’s credit figures … Waiting for Black Friday … Wesfarmers defends Coles purchase … The rise and fall of Jeremy Reid … Rubin under the microscope
Citigroup proof that shorting is destructive
If Citigroup is worth nothing, then we are all stuffed. So much for the claim that the stockmarket is “efficient”. It’s no more efficient at the moment than the NSW Government is in running a train, writes Glenn Dyer.
How I beat the bank, with a little help from VCAT
The Victorian Civil and Administrative Tribunal has held that a $40.00 late payment fee imposed by Citigroup was an illegal penalty and therefore unenforceable, reports Adam Schwab.
We’re all dooooooomed: a finance wrap
Just when it looked like the pall of gloom had been lifted from investors around the world, the black clouds of doom rolled back in, writes Glenn Dyer.
It’s the season for turkeys in the US stockmarket
Thanksgiving may have been a week ago but the turkeys were out in force in US stockmarkets over the past week. Just look at the way they have been plucked with three big rises in the market and one correction, writes Glenn Dyer.
Citigroup goes to junk
The $US7.5 billion bail out of Citigroup by the Abu Dhabi Investment Authority reveals that America’s biggest bank by assets is the world’s first major bank to be valued at junk bond status.
US and Euro banks slump, Aussie banks strong
Citigroup and its CEO, Chuck Prince, are parting company after an agreed deal ahead of a board meeting in New York a few hours ago, a week after Stan O’Neal and the board of Merrill Lynch parted company with Stan walking with $US160 million, writes Glenn Dyer.
Morning Market Report
The highlights and lowlights of this morning’s sharemarket activity.
ASIC’s Citigroup adventure will cost us all
The failure by ASIC to win its insider trading case against Citigroup in the Federal Court yesterday will ending up costing taxpayers millions of dollars in legal and administrate fees.
