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Global Investing News
Consumer Confidence Hits Record Low; JPMorgan Slashes Dividend; Bernanke Urges Strong Action for 2010 Recovery; Target Profit Tumbles; Oil Pushing Back to $40; Home Depot Beats Estimates
- U.S. consumer confidence fell to a record low in February, according to the Conference Board index. “Just when you think confidence can’t go any lower, the bottom falls out of it, and you can be sure the rest of the economy is not far behind,” Chris Rupkey, chief financial economist at Bank of Tokyo-Mitsubishi UFJ Ltd. in New York, told Bloomberg.
- JPMorgan Chase & Co. (JPM) slashed its common-stock dividend by 87% Monday, a move that…
Global Investing Roundups
Bear Stearns Shareholders Approve JPMorgan Sale; Sears Expects More Pain After Loss; Weak Economy Emboldening Costco; Pacific Rim GDP Growth; Staff Reduction at GM;
–Shareholders of The Bear Stearns Cos. Inc. (BSC) approved the government-assistant $2.3 billion acquisition by JPMorgan Chase & Co. (JPM), Bloomberg reported. The all-stock deal is expected to close today (Friday), though shareholders who sought more than the buyout’s price of $10-a-share may file suit.
–Shares of Sears Holdings Corp. (SHLD) – owner of Sears and K-Mart department stores – dropped 3.6% yesterday (Thursday) as the company posted a net loss of $56 million, or 43 cents a share, for…
30May2008 | Money Morning | Comments Off | Continued
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