Links and Reading for May 11th
May 11, 2011 8:00 am
Some of the more interesting and important items for May 11th :
- Citigroup’s $550 Share Price – MarketWatch – Citigroup (NYSE: C) reverse split its stock and each stockholder with 10 shares got one. That took the price of Citi to $44. No one was fooled by the action. The big bank's stock was worth, on the split basis, $550 four years ago. Citigroup is still Citigroup, the wretched and troubled financial firm which was irreparable damaged by the credit crisis and will never fully recover.
- Why Berkshire and Buffett never lose David Weidner’s Writing on the Wall – MarketWatch – NEW YORK (MarketWatch) — Like most big-shot investors or Wall Street CEOs, Warren Buffett doesn’t get overly worked up about quarterly earnings — except when they’re good.
- Greeks go on strike to protest austerity measures – MarketWatch – LONDON (MarketWatch) — Public services and transport across Greece came to a stop Wednesday as labor unions mounted the second general strike of the year to protest another round of austerity measures as concerns heightened over the nation’s solvency.
- China Inflation Signals More Tightening to Come – Bloomberg – China’s inflation held above 5 percent in April and lending exceeded analysts’ estimates, signaling that further monetary tightening may be needed to cool the fastest-growing major economy.
- BOE Signals Rate Increase This Year Amid Inflation – Bloomberg – Bank of England Governor Mervyn King said that inflation remains “uncomfortably high,” and officials signaled they may need to raise interest rates later this year even as the economy struggles to build momentum.
- FDIC’s Bair Will Leave Post July 8 After Finishing Bank ‘Living-Will’ Rule – Bloomberg – Federal Deposit Insurance Corp. Chairman Sheila Bair will leave her post July 8, a week after the official expiration of her term, the agency announced.
- Google’s YouTube Adding 3,000 Rentals, Challenging Netflix – Bloomberg – Google Inc. (GOOG)’s YouTube website will add “The King’s Speech,” “Inception” and about 3,000 other titles to its movie-rental service, accelerating its shift into Hollywood entertainment and stepping up competition with Netflix Inc. (NFLX)
- Drug Makers Replace Reps With Digital Tools – WSJ.com – Big pharmaceutical companies have found replacements for the army of sales representatives they've laid off in recent years: digital sales tools that seek to sell doctors on drugs without the intrusion of an office visit.