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Thin Role For Thain At BofA
Although Merrill's CEO instigated its acquisition by bank of america, he won't be on the board of the combined company.
Forbes

Thompson Creek Faces Possible Writedowns as Moly Prices Continue to Fall
FP Trading Desk submits: It continues to be a rough week for shares of Thompson Creek Metals Co. (TC), which continues to suffer as molybdenum spot prices have fallen to roughly $8 per pound and the company faces possible write-downs.On Friday, one of the world’s largest producers of the metal used in high-strength steel alloys announced a reduction in capital expenditures and the postponement of the expansion of its 75%-owned Endako Mine.Complete Story »
Seeking Alpha

Private Placement Closes, Agnico-Eagle Sees More Volatility
FP Trading Desk submits: As usual, it’s been a wild ride for Agnico-Eagle Mines Ltd. (AEM) shareholders. When the gold miner announced its private placement to sell at least $252-million in stock to fund expansion and bolster its balance sheet on Nov. 19, its shares fell 12% to around C$33 in Toronto. This brought the year-to-date decline to roughly 40%. By the end of the month, Agnico was up above C$48 per share. But after steady declines this week, it is trading around C$35 again. Sharp moves in the price of gold are also playing a role.Complete Story »
Seeking Alpha

Anglo American`s New Management Is Key to its Future - BMO
FP Trading Desk submits: Anglo American PLC (AAUK) has been the second-worst performer among the world's major diversified mining companies over the last five years. But is now the time to buy?BMO capital markets analyst Tony Robson is not so sure. He noted that London-based Anglo has been a chronic underperformer for a number of reasons: lacklustre management, a weak corporate structure, poor operational performance at many of its mines, and myriad problems in South Africa (where it does a great deal of business).Complete Story »
Seeking Alpha

Negative Real Rates Will Drive Gold Prices Up
Adam Hamilton submits:It’s been a tough year for gold investors. Instead of soaring during the great fear and uncertainty of the global financial panic as most gold investors expected, gold got caught up in the selling. Thus it is down 7.3% year-to-date. This is far-better performance than virtually everything else, especially the S&P 500’s 40.7% YTD loss. Nevertheless, the lack of a flight to gold in such dire conditions remains disappointing. Why didn’t gold rally? Capital fleeing out of the imploding bond and stock markets flooded into US Treasuries at staggering rates. While Treasuries weren’t yielding much, at least they sheltered capital from the surrounding universal panic selling. Before taking refuge in Treasuries, foreign investors first had to buy US dollars. This frenzied dynamic drove a monster dollar rally which hammered gold futures.Complete Story »
Seeking Alpha

December Outlook: How to Preserve Capital
Steven Hansen submits: A conservative investor needs to be defined as the situation changes the definition. Complete Story »
Seeking Alpha

Hang on to Your Gold
SW Richmond submits: Gold bugs are believers, that's for sure. The question is: are they wrong? One must correctly perceive what is happening, and what is being done about it, in order to predict what will occur.Complete Story »
Seeking Alpha

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Archived "business - completes merrill" news stories.

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