Sometimes important corporate news is ignored. Shareholders miss it, companies hide it and governments fail to publicise it.
Morgan stanley
Macquarie loses its competitive edge as earnings slump 25%
Macquarie’s worsening performance and lacklustre return on equity is the inevitable result of a business that has lost its primary competitive advantage.
Digging through the “Dead Presidents” corpses
An investigation is being launched into whether Morgan Stanley deliberately designed and then bet against mortgage deals, nicknamed the “Dead Presidents” deals. Did Morgan Stanley pull a Goldman Sachs?
Business As Usual: China property prices soar … gold prices to be driven down …
China property prices hit record highs … Greece is in worse shape than most thought … Plane sailing for Macquarie … A bonus for the hard-working South Korea … An embarrassing time for Morgan Stanley … Fluctuating fortunes of the gold market …
US banking basket case: not much left in the Citi kitty
Lumbering banking giant Citibank lost $US1.6 billion last year — peanuts really compared to the still-shocking $US27.7 billion lost in 2008.
Wall St bankers explain their stuff ups
The NY Times has a nifty interactive feature on the four big bankers who headed to Capitol Hill to testify at the Financial Crisis Inquiry Commission. Hear in their own words how hurricanes, regulators, risk and overspending of mortgages all contributed to causing the GFC.
Shit hits the fan for Wall Street’s shadow bankers
America’s biggest insider case is starting to spread, snaring some of Wall Street’s bluest-of-blue-blood banks in its web. Explosive claims are emerging, including disclosures on the dodgy trading of the Galleon hedge fund.
Media frenzy appoints teenage digital guru
The blogosphere was abuzz yesterday with the news that Twitter was regarded by one 15-year-old from London as being for old people. That’s news?
Acquisitive Swiss eye OZ Minerals
The OZMinerals saga continues to throw up curveballs with Swiss mining giant Xstrata the latest suitor to throw its hat in the ring, writes Glenn Dyer.
ABC Learning admits defeat in the US, problems continue at home
ABC Learning Centres has been defeated in the US, but it has also acknowledged that there are serious problems in its Australian business, writes Adam Schwab.
$8 billion loser Jerome Kerviel is just a scapegoat
There’s a large dollop of hypocrisy in much of the reporting about the losses at Societe Generale, the big French bank, because of unauthorised trading, writes Glenn Dyer.
Morning Market Report
The highlights and lowlights of this morning’s sharemarket activity.
Is Macau already beginning to lose its lustre?
A new report from Morgan Stanley on the outlook for Macau offers a striking contrast to the puffery we have been reading from local investment analysts and financial journalists writes Glenn Dyer.
Morning Market Report
The highlights and lowlights of this morning’s sharemarket activity.
Don’t forget distressed debt
Reading much of the commentary by various Australian financial market commentators about the genius of private equity and their seeming insatiable appetite for snapping up Australian companies often reminds me of the story of the fawning courtiers around King Canute who told the King he could even command the sea.
