Archive for July 7th, 2009

With the Federal Reserve keeping interest rates at record lows, inflation is bound to be a problem, says Paul Lefurgey, Madison Investment Advisor’s lead fixed-income manager. But it’s not an immediate one: Bond markets currently project prices to rise 1.5%.Taking a nuanced view leads Lefurgey to walk a middle ground. Madison manages 8 billion for… »

Integrated energy and refining companies, those with both oil and natural gas businesses, are likely headed for a disappointing earnings season as refining margins and lower natural gas prices are expected to hamper second-quarter results. Tuesday’s warning from ConocoPhillips that weak fuel and gas prices combined with high gasoline inventory levels would drag on its… »

The big ratings agencies like Moody’s and Standard & Poor’s have been pilloried since the onset of the financial crisis, with perceived conflicts of interest and flaky analyses marking them as ineffective watchmen of creditworthiness. But given that there is no alternative out there-even rival Fitch Ratings uses the same business model-should we expect anything… »

It looks like passengers traveling with Irish budget airline Ryanair have to spend a pound to spend a penny. As the company looks to keep fares cheap during the recession, the no-frills airline is now considering making passengers stand up for flights. Ryanair said it was inspired by Chinese airline Spring, which said it could… »

Rising unemployment, a shrinking economy and falling home prices have left U.S. consumers increasingly unable or unwilling to pay credit card bills and home equity lines of credit. Though the headline numbers don’t look so bad, the details suggest that financial companies face more and growing credit losses through the second half of the year.On… »

Is General Electric taking Greenbrier for a ride? The freight equipment company certainly thinks so, alleging that General Electric is violating its contract by limiting the number of railcar deliveries it will accept on a billion-dollar agreement. Greenbrier , which provides transportation equipment and services to the railroad industry, has enough on its plate with… »

PSA Peugeot Citroën said on Tuesday that despite a sharp decline in sales during the first half of the year, it has seen the benefits of “cash for clunkers” programs that have been introduced across Europe. The incentive programs have slowed losses in countries like France and have boosted sales in Germany.Shares of PSA Peugeot… »

The first day of Barack Obama’s visit to Russia has led to a few preliminary agreements between the American and Russian presidents, including cuts to both country’s nuclear arsenals. Russia will also allow the U.S. military to move equipment through its territory into Afghanstan. While the two countries try to mend their fractured relationship, the… »

HONG KONG – A week after China was granted a license to develop Iraq’s largest known oilfield, the three largest Chinese oil companies are already gearing up to bid for 11 other oil and gas field contracts in Iraq which will be auctioned later this year.China National Petroleum Corp , China Petrochemical Corp are likely… »

Winning the lottery may not be all that its cracked up to be. The health problems such sudden wealth generates can become the stuff of nightmares, claims a report published by the Paris School of Economics earlier this year. The research found that two years on from winning the lottery winners were drinking and smoking… »