Merrill Lynch & Co plans to cut 10 to 15 per cent of non-broker staff. The company, which has been battered by losses on mortgages and other assets, had about 64,000 employees as of the end of 2007, including ... via Laos News.Net
The Top 10 Stock Screening Strategies That Make Money are proven profitable trading strategies and unique ways to screen for winning stocks. via Earth Times
TOKYO: Combined net profit at Japan's six major banks is estimated to have dropped more than 40 percent for the year to March 2008, weighed down by losses related to US subprime mortgages, a daily said ... via Daily Times
"The economic data is negative, but I think what the market's telling us is we've priced in a lot of the bad news already"
- The Toronto stock market held onto triple-digit gains in the afternoon while New York struggled to hang onto a brief surge of energy that quickly faded away.
Dismal jobs data stateside left the U.S. markets wavering while a neutral report received a better response in Canada.
Toronto's S&P/TSX composite index rose 135.8 points to 13,687.1 after Statistics Canada said the Canadian unemployment rate rose to 6.0 per cent in March from 5.8 per cent in February.
The agency said the increase resulted from an inflow of job seekers, while the economy added 14,600 net jobs last month. Read more
"Whenever a (Nordic cabinet) minister goes out to lunch, you can see how much he spent for lunch and how much on the cab. It literally goes up (on the Internet) within a few hours"
Microsoft Corp. Chairman Bill Gates credited the Internet on Friday with making "phenomenal" inroads in beefing up government transparency, saying cabinet ministers in Scandinavia now keep little, if anything, ... via Scientific American
"The consequences of discontent, anger in the Middle East can be more geo-political than they may be elsewhere - the huge wealth disparity is another thing to take into account."
While Arab Gulf oil producers reap windfall earnings, their poorer cousins elsewhere in the Arab world are struggling with soaring energy and food bills. via Jordan Times
"We have cared for the money market to function correctly which is protecting those who behaved properly against abnormal consequences on the market which were triggered by those who behaved improperly"
The head of the European Central Bank said Friday that the billions of dollars it has pumped into financial markets to ease a credit crunch had not bailed out failing banks or bad managers. via CNN Money
Japanese stocks fell Friday, ending a three-day winning streak, as traders sold steel and auto issues ahead of key U.S. job figures to be announced later in the day.
The benchmark Nikkei 225 index sank 96.68 points, or 0.72 percent, to 13,293.22 on the Tokyo Stock Exchange.
'The Nikkei may trade below 13,000 next week if the data disappoint the market,' said Yoshinori Nagano, a senior strategist at Daiwa Asset Management.
The U.S. economy is expected to have shed 50,000 jobs in March according to economists polled by Dow Jones Newswires, after losing 63,000 in February. Read more
Bear Stearns Cos. was another step closer to its takeover by JPMorgan Chase & Co. via The Morning Call
Crude oil futures rebounded Friday after an overnight fall with the dollar stabilizing against other currencies.
Oil prices have held above $100 a barrel for more than a month, largely on the view that crude, gold and other hard commodities are effective hedges against a falling dollar and rising prices.
As the dollar has started to recover against the yen and euro, investors have been less prone to pour money into oil for reasons unrelated to supply and demand. Still, with long term prospects bleak for the U.S. currency, oil remains attractive as an investment. Read more
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