Wall Street Cheat Sheet: Another Country to Bailout EU, MF Global Goes Bust
- Posted on October 31, 2011 at 8:53am by
Becket Adams
- Print »
- Email »
[Editors note: the following is a cross post from Wall St. Cheat Sheet regarding the day's important financial news.]
Russia (NYSE:RSX): will provide up to $10 billion to help European countries with the euro zone debt crisis. The country said last week they were willing to offer assistance but according to Arkady Dvorkovich, Russia’s chief presidential economic aide, he reiterated they would provide money through the International Monetary Fund instead of contributions to a special stability fund.
Don’t Miss: VIRAL VIDEO: The Secret Truth Behind Who Will Really Bail Out Europe.
After attempting a fire sale over the weekend, MF Global (NYSE:MF), will file for Chapter 11 bankruptcy as soon as today and according to the Wall Street Journal, may sell the firm’s assets to Interactive Brokers Group (NASDAQ:IBKR) for $1 billion through a court-supervised auction. The company has also been suspended from conducting business with the Federal Reserve Bank of New York.
Panasonic Corp. (NYSE:PC) reported a second quarter net loss of ¥105.8 billion as compared to a net profit of ¥31.0 billion from the previous year. Its operating profit for the quarter declined about 50 percent to ¥42.0 billion as compared to ¥85.2 billion from the same time a year ago. The gloomy report also included a 6 percent revenue decline to ¥2.076 trillion from ¥2.207 trillion. For its full fiscal year through March, Panasonic dropped its earnings forecast and now estimates a ¥420 billion ($5.54 billion) net loss, a ¥130 billion operating profit and ¥8.3 trillion in revenues.
Investing Insights: Here’s Why Investors Should Not Compare Coinstar to Netflix.
Netflix Inc. (NASDAQ:NFLX) and Amazon.com Inc. (NASDAQ:AMZN) have signed licensing deals with Walt Disney Co. (NYSE:DIS) to increase offerings to their subscribers. Netflix will ramp up its Disney, ABC series and TV movie lineup while Amazon’s deal will include the streaming of content from ABC Studios, Disney Channel, ABC Family and Marvel.
Financial details were not disclosed by any of the companies.
Comments (6)
Sign In To Post Comments! Sign In
Popular Stories
Paper Details Obama Admin’s Alleged Secret Note Sent to Iran: If Israel Attacks, We Won’t Get Involved 591 Comments
‘Made Up Religion’: TV Historian Enrages Muslims, Receives Threats After Producing UK Documentary Questioning Islam’s Beginnings 415 Comments
This Is the Creationists‘ Response to Scientist Bill Nye’s Viral Pro-Evolution Video Claiming They Harm Children 415 Comments
President Obama Issues Major ‘Green Energy’ Executive Order 379 Comments
Roseanne Barr: Most Billionaires ‘Violent Pedophiles’ & ‘Heartless’ Cocaine Addicts 376 Comments
Faith
- This Is the Creationists‘ Response to Scientist Bill Nye’s Viral Pro-Evolution Video Claiming They Harm Children 415 Comments
Pakistani Muslim Cleric Accused of Framing Disabled Christian Girl in Koran-Burning Case Read More- ‘Made Up Religion’: TV Historian Enrages Muslims, Receives Threats After Producing UK Documentary Questioning Islam’s Beginnings 415 Comments
Meet the Controversial German Imam Accused of Brutally Beating His Wife & Pushing Sharia Law Read More
‘Self-Proclaimed Messiah’ & Unification Church Leader the Rev. Sun Myung Moon Has Died — Here’s His Life Story Read More
Business
- President Obama Issues Major ‘Green Energy’ Executive Order 379 Comments
- Germany’s Upcoming Court Ruling Will be Huge for the EU Read More
Ford Looks to Beat Toyota for Best-Selling Car in 2012 With This Model 151 Comments
Bernanke & QE3: Here’s What You Need to Know 100 Comments- ‘Extortion’: Why Did the Labor Department ‘Drop the Hammer’ on Oregon Farmers? 303 Comments
Technology
- This Is the Creationists‘ Response to Scientist Bill Nye’s Viral Pro-Evolution Video Claiming They Harm Children 415 Comments
‘TaserDrone’: Hackers Weaponize Quadcopter With Actual ‘Shocking’ Technology Read More
Ever Heard of the Wild ‘Burning Man’ Festival in the Middle of the Nev. Desert? Here’s Your Primer Read More
Stanford Develops Technology ‘Better Than Steroids’ for Athlete Recovery Read More
Have You Pretended to Know What ‘the Cloud’ Is? You’re Not Alone Read More
Submitting your tip... please wait!
ejbonk
Posted on November 2, 2011 at 1:12pmWe are Witnessing the Failure of Socialism and Communism in Europe. The Islamist (muslim brotherhood)are waiting in the shadows to start to take power slowly at frist then by killing off the radical Communist and anarchist,before enslaving the whole of Europe.
Report Post »garclar
Posted on October 31, 2011 at 5:57pmLook Greece, now Italy, maybe Spain, when will this end and is it in the world’s best interest to bailout these countries These countries need to change the government strategies against financial disasters instead of throwing good money after bad. It does not matter how much they put in the IMF it will always be broke because democratic socialism will not work, never has never will. You cannot go on spending money you do not have, then borrow more from the IMF and spend that. This is financial foolishness and fools never learn from their mistakes. Germany after WW2 comes to mind…
Report Post »Vechorik
Posted on October 31, 2011 at 12:20pmAll this — and economists say Greece will still fall. Ron Paul said let them sink (I agree).
Report Post »Maxim Crux
Posted on October 31, 2011 at 12:45pmYes, Greece and others will fall and Germany will be the victor!
Report Post »Hollywood
Posted on October 31, 2011 at 2:39pmYou might hold a different opinion after Greece DECLARES bankruptcy. BAC transferred their Financial “ASSETS”/CDS’s to their DEPOSIT Banking Branch from their Financial side. The CDSs’ amount to 53 TRILLION $. JP Morgan doing the same for 79 TRILLION $. This now means these “assets| will be covered, against potential losses, by the FDIC[U.S.Taxpayers] IF Greek Bond holders get stiffed, the CDSs’ kick in. WHO do YOU think holds most of the Greek and other PIIGS paper? Hullo?
Report Post »NoRoomForSocialismHere
Posted on October 31, 2011 at 7:01pmLet the EU fail! They thought they were so cute with this Globalism, WTO and such, now reap the wind you Marxist pigs. It will hurt so many Progressives in the USA like the Bush Bunch, Clintons et al
Report Post »