Stocks surge as U S acts to shore up money funds: related news

Stocks surge as U.S. acts to shore up money funds

President George W. Bush, left, giving a speech about the economy at the White House on Friday with Treasury Secretary Henry Paulson.

How Safe is Your 401(k) Plan?s Money Market Fund?

Money market funds have always provided refuge from the storm in a market crisis, but CFOs who have fiduciary responsibility for their company’s 401(k) plan may be questioning the safety of their plan’s money market fund these days. Many of the funds hold commercial paper and other short-term debt instruments tied to ailing financial powerhouses such as Lehman and AIG. And the seemingly unthinkable has already happened: one large money market fund, the Reserve Primary Fund, announced that it lost capital due to the Lehman securities it held, breaking the sacred $1 per share net asset value (NAV). This marks the first time that a money market fund “broke the buck� in 14 years, according to The Wall Street Journal. S & P subsequently put nine other money funds sponsored by the company on credit watch for possible downgrades.

?Nobody in the cricket world takes Pakistan seriously?

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Are you making money on the Web?

I found this article the other day Make Money Online (Without Spending a Dime) and I was intrigued. Now, it's not really about making money with websites, but it's still interesting. So I did a little searching, and found that TechCrunch wonders if you can make money from Web 2.0, while WebWorkerDaily has 10 "new" ways to make money online (written in 2007, so not so new now...). And of course, Geek and Poke shows how to make money with Web 2.0. In these days of interesting economics in the U.S. finding ways to earn money with our Web skills is a vital skill - at least for me.

U.K. Shoppers Outspending U.S. Consumers Online

LONDON (AdAge.com) -- U.S. online shoppers are being "outshopped" by their U.K. counterparts, with U.K. consumers spending 40% more money and making 24% more purchases online than U.S. shoppers.

EDITOR'S PICKS With Eyes On Capital Hill Stocks Closed Sharply Lower - U.S. Commentary President Bush Addresses Terrorism In U.N. Appearance DuPont names Ellen Kullman president, CEO - Update Cisco CEO Chambers Predicts New Era Of Productivity

EDITOR'S PICKS With Eyes On Capital Hill Stocks Closed Sharply Lower - U.S. Commentary President Bush Addresses Terrorism In U.N. Appearance DuPont names Ellen Kullman president, CEO - Update Cisco CEO Chambers Predicts New Era Of Productivity

Money funds sign up for guarantee

It appears that virtually all money market fund families have subscribed to the U.S. Treasury's Temporary Guarantee Program for Money Market Funds. Fidelity and Vanguard, among the last to jump onboard, announced last week that they would participate, one day before the enrollment deadline.

China hails spacewalk 'heroes' and sets eyes on moon

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Sturdy Westpac likely to post solid results

T e a k t w l b k e l w t h n t i w e 's u l- e r e u t a n u c m n s y e t a B n i g o p n S G o g B n t g u e h t e t e r g o i o f a d v d n s n f l i g e u n n q i y a e u i g a t e k' b n i g e u t w l b a i d s r -w d p e o e o .

Central bank to allow loans to more institutions

The Bank of Canada said it will allow a wider range of financial institutions and funds to tap the central bank for loans in a bid to ensure smoother operation of money markets. The central bank said yesterday that instead of just banks being able to get loans, any federally or provincially regulated institution "which can demonstrate significant activity in the Canadian dollar wholesale money markets" can turn to the Bank of Canada for money. The cash will be made available as part of the central bank's purchase-and-resale operations, which are essentially short-term loans of two or four weeks. The loans are secured by collateral that's handed over to the Bank of Canada for the duration of the deal. The idea is to allow money market funds or pension funds that have sudden needs for cash to turn to the Bank of Canada rather than having to

Central bank to allow loans to more institutions

The Bank of Canada said it will allow a wider range of financial institutions and funds to tap the central bank for loans in a bid to ensure smoother operation of money markets. The central bank said yesterday that instead of just banks being able to get loans, any federally or provincially regulated institution "which can demonstrate significant activity in the Canadian dollar wholesale money markets" can turn to the Bank of Canada for money. The cash will be made available as part of the central bank's purchase-and-resale operations, which are essentially short-term loans of two or four weeks. The loans are secured by collateral that's handed over to the Bank of Canada for the duration of the deal. The idea is to allow money market funds or pension funds that have sudden needs for cash to turn to the Bank of Canada rather than having to

Central bank to allow loans to more institutions

The Bank of Canada said it will allow a wider range of financial institutions and funds to tap the central bank for loans in a bid to ensure smoother operation of money markets. The central bank said yesterday that instead of just banks being able to get loans, any federally or provincially regulated institution "which can demonstrate significant activity in the Canadian dollar wholesale money markets" can turn to the Bank of Canada for money. The cash will be made available as part of the central bank's purchase-and-resale operations, which are essentially short-term loans of two or four weeks. The loans are secured by collateral that's handed over to the Bank of Canada for the duration of the deal. The idea is to allow money market funds or pension funds that have sudden needs for cash to turn to the Bank of Canada rather than having to

Scotiabank drops option to buy U.S. bank assets

There's little chance Bank of Nova Scotia will take the plunge and buy a U.S. bank, its chief executive officer says. "Especially with what's developed over the last several weeks, it's very unlikely we would have any interest," CEO Richard Waugh said in an interview yesterday. When the value of U.S. financial institutions began to plummet, Scotiabank was one of the first to go shopping. It took a good look at Cleveland-based lender National City Corp. in the spring. But the U.S. government's recent decision to inject capital into American banks has nearly knocked Canadians out of the running in the race for U.S. regional assets, Mr. Waugh said. He acknowledges the cheap prices of U.S. banks did make the idea of an acquisition "intriguing." But after mid-September "when the American banks were given substantial amounts of equity from the

Scotiabank drops option to buy U.S. bank assets

There's little chance Bank of Nova Scotia will take the plunge and buy a U.S. bank, its chief executive officer says. "Especially with what's developed over the last several weeks, it's very unlikely we would have any interest," CEO Richard Waugh said in an interview yesterday. When the value of U.S. financial institutions began to plummet, Scotiabank was one of the first to go shopping. It took a good look at Cleveland-based lender National City Corp. in the spring. But the U.S. government's recent decision to inject capital into American banks has nearly knocked Canadians out of the running in the race for U.S. regional assets, Mr. Waugh said. He acknowledges the cheap prices of U.S. banks did make the idea of an acquisition "intriguing." But after mid-September "when the American banks were given substantial amounts of equity from the

Scotiabank drops option to buy U.S. bank assets

There's little chance Bank of Nova Scotia will take the plunge and buy a U.S. bank, its chief executive officer says. "Especially with what's developed over the last several weeks, it's very unlikely we would have any interest," CEO Richard Waugh said in an interview yesterday. When the value of U.S. financial institutions began to plummet, Scotiabank was one of the first to go shopping. It took a good look at Cleveland-based lender National City Corp. in the spring. But the U.S. government's recent decision to inject capital into American banks has nearly knocked Canadians out of the running in the race for U.S. regional assets, Mr. Waugh said. He acknowledges the cheap prices of U.S. banks did make the idea of an acquisition "intriguing." But after mid-September "when the American banks were given substantial amounts of equity from the

Australian Stocks Surge 4%, Westpac Net Up

Stocks in Australia surged on a steep rise in copper and crude oil prices. The U.S. Fed rate cut of 0.5% to 1% lifted prices of base metals and energy in Asian trading. The benchmark index ASX 200 index surged 4% and closed at 4,001.10. Australian dollar surged 5% to 68.22 U.S. cents to a dollar.

U.S. STOCKS - Market edges up on bargain hunting, Google

NEW YORK (Reuters) - U.S. stocks vaulted sharply higher in volatile trade on Friday, driving the Dow back above 9,000 as reassuring results from Google Inc and IBM buoyed the technology sector and energy stocks rose with oil.

U.S. banks promise they won't use bailout money for executive pay, takeovers

WASHINGTON - Executives from four U.S. financial institutions that have received a total of $75 billion in federal bailout funds are promising they won't use the money to pay their executives and employees.

US STOCKS-Market rallies on Google, energy stocks

NEW YORK, Oct 17 (Reuters) - U.S. stocks surged in volatile trade on Friday after tech bellwether Google Inc (GOOG.O: Quote, Profile, Research, Stock Buzz) posted reassuring results and energy stocks tracked the price of oil higher.

Google seeks TV audience for YouTube

C u h o a o s i l a e c e s o u l- e g h p s d s f o u a t l v s o s o s h o g Y u u e o l w n a i -u b t e n n t d t t s r a c s e C S n t e i e w b i e' o n r o g e.

World?s richest cricket tie to go ahead as scheduled

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U.S. treasury begins to take stake in major banks

The U.S. Treasury Department said on Wednesday it has bought 125 billion U.S. dollar stocks in nine major U.S. banks under its 250 billion dollar purchase plan.

U.S. stocks end lower for third day as Best Buy adds to gloom

U.S. stocks close sharply lower as Treasury Secretary Henry Paulson shifts the focus of the government's bailout plan from troubled mortgage assets to consumer credit and Best Buy Co. Inc. cuts its outlook. See full story.

Leading Stocks - Vertex Pharmaceuticals Inc, FLIR Systems Inc, Cephalon Inc, Xilinx, Check Point Software Technologies Ltd

Given everything that is going on in the market, I thought it might be interesting to see what stocks are leading this year. As a starting point, I pulled the component stocks for the NASDAQ 100 (NDX) and ran them through a query that gave me the year-to-date returns and a few key pieces of sentiment data. The list below is sorted to show some of the top performing stocks. The names that stood out to me include, Vertex Pharmaceuticals Inc (VRTX), FLIR Systems, Inc. (FLIR), Cephalon, Inc. (CEPH), Xilinx, Inc. (XLNX), and Fastenal Company (FAST). As the spreadsheet points out, these stocks all carry a rather heavy level of short interest. A high level of short interest can lead to the potential for a short squeeze.

AT&T's U-Verse Made Available at Circuit City and Wal-Mart Retail Outlets

AT&T Inc. has announced agreements with Circuit City and Wal-Mart to sell AT&T U-verseSM TV and AT&T U-verse High Speed Internet in more than 600 retail locations beginning this month. The agreements are the first national retail deals for AT&T U-verse, creating a powerful new distribution channel and providing consumers with another convenient way to learn more about U-verse services, check availability and place an order.

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