Monthly Archives: July 2008

ExxonMobil softens tone on climate amid shareholder pressure

DALLAS (AFP) - ExxonMobil softened its tone on environmental responsibility and the need to invest in alternative energy sources Wednesday in the face of strong opposition from shareholders.
But the company insisted that oil and gas remain the near-term solution to global energy demand.
ExxonMobil chairman and chief executive Rex Tillerson said the company was focused on [...]

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Moody’s: Municipal-Only Bond Insurers Might Get AAA

Moody’s: Municipal-Only Bond Insurers Might Get AAA
Last Update: 7/31/2008 10:31:20 AM
By Lavonne Kuykendall
Of DOW JONES NEWSWIRES
CHICAGO (Dow Jones)–Bond insurers that cover only municipal and public purpose
bonds might be more likely to win a top credit rating than insurers that dabble
in securities backed by consumer and other [...]

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Mass sues Merrill over auction-rate securities sales

BOSTON (MarketWatch) — Massachusetts Secretary of the Commonwealth William
Galvin has filed a complaint against Merrill Lynch & Co. related to the sale of
auction-rate securities, the market for which blew up during the credit crunch.
Among other things, the complaint alleges Merrill co-opted its research
department “to assist in sales efforts geared towards reducing its inventory of
auction-rate securities.” [...]

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Mass Charges Merrill With Fraud In Auction-Rate Sec Sale

Mass Charges Merrill With Fraud In Auction-Rate Sec Sale
Last Update: 7/31/2008 10:46:11 AM
DOW JONES NEWSWIRES
The Massachusetts Secretary of the Commonwealth charged Merrill Lynch & Co. (MER)
with fraud in pushing the sale of auction-rate securities while “misstating the
stability of the auction market itself.”
“This company was aggressively selling ARS to investors and its [...]

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Goldcorp swings to $9 mln loss

NEW YORK (MarketWatch) — Goldcorp Inc. said its swung to a second-quarter loss
of $9.2 million or a penny a share, from earnings of $2.9 million, or breakeven
in the year-ago period. The latest period included a non-cash $98.4 million
foreign exchange loss on revaluation of future income tax liabilities. Adjusted
earnings fell to 12 cents a share from [...]

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