Breaking News

  • Wal-Mart Stores names Mike Duke CEO and president, succeeding Lee Scott.
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    China's Oil Price Challenge

    Beijing is gearing up for a major reform of its oil price regime. It may not be the boon some of the country's oil majors are hoping for.

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    Hong Kong Loves Its Currency Peg

    Hong Kong pegs its currency at a fixed rate against the U.S. dollar -- and while authorities earned a fair amount of grief over the peg when the U.S. dollar was falling, supporters of the peg now have their response.

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    Volatility Spreads to Dual-Listed Firms

    Volatility has struck the farthest corners of the market, forcing traders to abandon even seemingly sure bets. But one fertile area for hedge funds has involved arbitraging the shares of dual-listed companies.

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    Overstating the U.K. Deflation Threat

    In the U.K., talk of deflation as an inevitable consequence of the current economic crisis looks overblown -- particularly when most of the deflationary chatter is coming from government.

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    [Chrysler cars at a dealership in Dormont, Pa.]

    Fine-Tuning a Detroit Bailout

    Deciding whether or not to bail out car makers is only the first challenge facing the government. If Washington goes ahead and pumps $25 billion into Ford, General Motors and Chrysler, the next question will be how to actually do it.

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    Babcock Losing Life Support

    Babcock & Brown may finally have run out of lives. To carry out a radical restructuring, the troubled Australian financial firm needs the support of 25 banks to which it owes $1.98 billion in total. But on Thursday, Babcock said it had been denied access to funds held on deposit with one bank.

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    [shopper]

    Americans Are Facing Continental Thrift

    The CPI's 1% single-month drop grabs headlines, but nine-tenths of that relates to falling food and energy prices. More worrying is the 0.1% drop in the core index, with clothing, hotel stays and, of course, vehicles all falling.

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    [liberty]

    Malone Bets on Liberty Interactive

    John Malone is back in the market -- this time as a buyer of Liberty Interactive shares. The message: he thinks Liberty's brutal sell-off is overdone.

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    It's a Citi Under Siege for Pandit

    The market is losing confidence in Citigroup. In the wake of some planned balance-sheet maneuvers, it isn't tough to see why.

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    [Huiyuan]

    Some Hope for Coca-Cola in China

    Beijing has offered Coca-Cola a glimmer of hope that its $2.4 billion bid for juice maker China Huiyuan could pass regulatory scrutiny. But it is just a glimmer.

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    Asset-Light Strategies Come Into Their Own

    Smart retailing means smart property management. Obvious as that sounds, it's only relatively recently that European food retailers have fully recognized that they don't have to own all the stores they operate.

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    Unitech's Not So Unique Cash Problem

    Fear rules in India's property sector: Last month an erroneous report about missed payments by Unitech sliced the company's share price by more than 50% in a single day.

[Overheard]
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    Think you've seen a crash? For the real thing, try Singapore.

    There, the authorities keep a lid on traffic by making would-be drivers bid for a so-called certificate of entitlement, or COE, before they can even buy a car.

    COE prices are set in bimonthly auctions, so high demand raises the overall cost of a car.

    Back in May, the price of a COE for a small runaround peaked at about $10,250.

    Now, hear the screech of brakes and the tinkling of broken glass.

    COEs in the latest auction went for -- wait for it -- $1.30. That's about half the price of a Big Mac in Singapore.

    A screaming "buy" signal for sedans? Not so fast.

    According to one dealer's Web site, after factoring in import duties and taxes, a Honda Accord will still set you back a whopping $57,000 in the city-state.

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