South African Government Seeks Review of the Approval for the Wal-Mart/Massmart Merger

The South African Government has lodged an application seeking a review for the approval of the Wal-Mart/Massmart merger.

Dow Jones Economic Sentiment Indicator Suggests Recovery Could Be Losing Momentum

The media’s coverage of mixed economic news led to a marginal rise in the Dow Jones Economic Sentiment Indicator (ESI) in December. The ESI rose to 38.7, up only minimally from 38.3 in November. This slight rise is the ESI’s third weakest...

Getting Out of the Hole, Or Digging It Deeper?

Yesterday I focused on the proposition that “irrationality knows no bounds.” Today’s news brings evidence that the same can be said about greed. (Resolving the question of whether or not greed is irrational is left as an exercise...

Stocks Climb As Obama Names Economic Team

New York stock prices soared for a second straight session on Monday as investors responded favorably to the naming of President-elect Barack Obama’s economic team and the late Sunday night government injection of funds into Citigroup. Meanwhile,...

Global Stock Markets Still Heading Down

Stock markets around the world have again fallen dramatically. This is following the ongoing events in the financial world, including statements by several UK politicians such as Prime Minister Gordon Brown.

UK Prime Minister Gordon Brown Says the World Will Enter a Recession

Prime Minister Gordon Brown has today admitted that the developed world will enter a recession. “Having taken action on the banking system, we must now take action on the global financial recession,” he said, speaking to Members of Parliament...

Wall Street Closes Tuesday with a Moderate Loss

The Dow Jones Industrial Average fell 77 points, or 0.8 percent, to finish Tuesday at 9,311. It was the first time in nine days that the Dow did not close up or down by triple digits. The S&P 500 was off half a percent, five points, to 998. And the...

World Markets Claw Back Some of Their Recent Loses

Markets worldwide have surged in value following efforts by governments to ease the effect of the ongoing financial crisis, which has recently caused a massive decline in the value of stock markets.

President Bush Uses Radio Address to Reassure Nation During Economic Crisis

President Bush, has attempted to reassure Americans on the economy in his weekly radio address. “Over the past few days, we have witnessed a startling drop in the stock market — much of it driven by uncertainty and fear,” he said, introducing...