Global Investing Roundups

Demand Drops Crude; Volkswagen Races Ahead; Yen’s Strength Sinks Stocks; Verizon Dials Up Gains; Sept. Home Sales Up; Wal-Mart Scales Back; Citi Rejects Goldman Merger

• Crude oil for December delivery declined 1.4% yesterday (Monday) with a 93-cent drop to close at $63.22 a barrel on the New York Mercantile Exchange. Oil futures are down 57% from the July 11 record of $147.27 and 31% down from a year ago, Bloomberg News reported.  “With all of the stock markets going down, there’s going to continue to be downward pressure,” said Michael Fitzpatrick, vice president for energy risk management at MF Global Ltd. (MF)…

After Reloading With Wachovia’s Banking Business, Citigroup Takes a New Aim at the U.S. Banking Market

Citigroup Inc. (C) will acquire Wachovia Corp.’s (WB) banking operations for $2.l6 billion, a deal that will restore Citi’s title as the biggest U.S. bank by assets while transforming the once-highly regarded Wachovia into an investment-management operation.

In becoming the latest big U.S. bank to bolster its assets by rummaging through the remains of a nearly defunct financial institution, Citi agreed to buy Wachovia’s banking operations for $1 per share. The deal gives Citi a strong retail-banking network – adding 3,300 branches and offices in 21 states – as well as $2.2 billion in deposits; but the bargain also brings City…

Credit Crisis Update: Proposed Bailout Faces Opposition, Wall Street on Sale

As the ongoing effects of the capital markets credit crisis continue to be felt, U.S. government financial leaders urged Congress to make a speedy intervention, while foreign banks capitalized on U.S. distress by snapping up assets at bargain prices.

U.S. markets sank yesterday (Tuesday) as a quick turnaround on the proposed bailout legislation seemed less and less likely as criticism for Paulson’s plan in its current form became more widespread.

At the New York close, all three major U.S. indices had reversed early morning gains to head into the red. The blue-chip Dow Jones Industrial Average Index posted a loss of…

Wracked by Problems, the U.S. Economy Keeps Digging Its Way Out

Where to start? Market volatility is sure to continue for the indefinite future as investors, economists, analysts and politicos debate the merits of the federal government’s ongoing move – and try to make heads or tails out of the new financial landscape.

Mega-financials that offer everything (deposits, lending, brokerage services, deal underwriting, wealth management, mergers & acquisitions deals) appear to be the wave of the future (is beleaguered Citigroup Inc. (C) suddenly ahead of its time?).

Comparisons to past crises are emerging: The Great Depression, the savings & loan crisis, the junk bond collapse, Japan’s stock-and-real-estate implosion, and even Tulip Mania).

Many investors…

How to Profit From the Emerging Markets Investment Banking Boom

Emerging markets are the place for investment bankers to wheel and deal during the next couple of years, as bankers in Asia, the Middle East and Latin America earn an increasing share of investment banking revenue.

Emerging markets share of investment banking revenue has increased both in percentage share and total value over the past few years. In 2005, investment-banking revenue from emerging markets accounted for almost $40 billion, or 16% of the global investment-banking revenue total. Those figures increased to just over $78 billion, a 21% share of the total in 2007.

Emerging markets’ share of investment banking revenue will…