News and Politics from a Progressive Perspective
17
Mar
British billionaire Joseph Lewis made his fortune gambling on currencies. His recent investment in Bear Stearns Cos. has turned out to be a disastrous bet.
The elusive septuagenarian is one the biggest losers from the New York investment bank’s problems. In just a few months, he has paper losses of about $800 million on his roughly [...]
Tags: Barrow Hanley, Bear Stearns, Bear Stearns Cos, Biggest Losers, Bruce Sherman, Capital Management Inc, Cash Crunch, J P Morgan Chase, James Cayne, Legg Mason, Legg Mason Inc, Naples Fla, New York Stock, New York Stock Exchange, Paper Losses, Private Capital Management, Regulatory Filings, Theme Restaurants, Type Of Investors, York Stock Exchange
17
Mar
Oil jumped to a record above $111 a barrel on Monday, as a surprise weekend cut in the Federal Reserve discount rate and the fire sale of stricken U.S. investment bank Bear Stearns (BSC.N) sent the dollar to all-time lows.
Crude for April delivery was up 95 cents at $111.16 a barrel by 10:35 p.m. EDT, [...]
Tags: Bear Stearns, Bsc, Currency, Dollar Weakness, Federal Reserve, Fire Sale, Fraction, Investment Bank, Jpm, Jpmorgan Chase, London Brent Crude, Management Executive, Mitsubishi, Nunan, Oil Prices, Rally, Risk Management, Slumps, Time Lows, Yen
15
Mar
Gold moved further into record territory above $1,000 per ounce and the euro hit fresh highs against the dollar on Friday after more bad news on the troubled US economy, traders said.The dollar also tumbled below one Swiss franc for the first time after US investment giant Bear Stearns said it was receiving emergency funding [...]
Tags: Bad News, Bear Stearns, Consumer Confidence Data, Economic Uncertainty, Economy, Euro Gold, Gold Crosses, Inflation, Investment Giant, Oil Prices, Ounce, Political Troubles, Precious Metal, Record Territory, Relentless March, Safe Haven, Safe Store, Swiss Franc
