The ongoing economic troubles have taken their toll on the dollar as investors worry about the stability of the currency and the possibility of inflation. However, the conditions that spell tough times for the dollar have also set the groundwork for the meteoric rise of the value of gold, which today reached an all-time high of $1,069.70 an ounce in New York, surpassing the record set on October 8 of this year.
According to analysts, gold is on the way to its ninth straight annual gain, its value having increased 20 percent this year alone. However, the dollar has plummeted 6.8 …read more

Insurance risk company Verisk has managed to secure the largest initial public offering of 2009, valuing the company at a whopping $22 per share for its 85.25 million shares. This sits above the analyst-expected price range of $19 to $21 per share for the same amount of shares and establishes Verisk as a new force to be reckoned with in the insurance risk field.
These shares are expected to start being traded on Wednesday on the NASDAQ Stock Market under the symbol VRSK. The total value of the IPO clocks in at $1.88 billion, which is the largest IPO in the …read more

While the entire country continues to struggle due to the various negative effects of the economic recession, even the nation’s most wealthy individuals have had their share of financial loss. The collective worth of the country’s 400 wealthiest people has fallen by $300 billion to $1.27 trillion, according to Forbes magazine.
 
This loss of wealth among the super rich has also lowered the threshold for the “super rich” designation to $950 million from $1.3 billion in assets. Forbes has reported that most of the financial loss comes from tumultuous capital markets and plunging real estate values, but a fair share of …read more

Reports of a quicker global economic recovery recently began to turn investors away from the dollar and toward other riskier assets, such as stocks, or toward safer investments, such as gold. However, new reports have refuted the idea that the global economic recovery will come swiftly, setting the stage for the dollar’s rebound as an investor’s safe haven.
 
Plenty of important financial events will occur next week, such as a Federal Reserve monetary policy meeting, the release of U.S. housing data, and a Group of 20 gathering. These events may compound the evidence required for investors to begin to take stock …read more

If you have invested any money in gold, you may be jumping for joy right now as the price of gold has climbed to an all-time high on Wednesday. Whereas the previous high for gold was set on March 18, 2008, at $1,003.20 an ounce, gold is now worth $1,020.20 an ounce due to a sagging dollar and concerns about inflation.
 
The dollar, however, has fallen to a one-year low thanks to increased optimism in global economic recovery and many investors’ desire to acquire riskier assets, such as stocks. According to most analysts, the weakness of the dollar is the main …read more

On the ignominious anniversary of the failure of Lehman Brothers and the onset of the economic crisis, President Obama delivered a strong message to Wall Street. In order to prevent another financial crisis of the same size, Obama encouraged that the industry should take steps to reform and patrol itself and to not try to get around new laws intended to police Wall Street.
 
Obama’s main message was that, despite the fact that the economy and our financial systems continue to show signs of recovery, Wall Street should not have the right to continue acting recklessly in ways that put us …read more

Is time more valuable than money?

Helping you college student stay on track.

If you want your children to grow up to be shrewd financial wizards, you may consider letting them watch “The Secret Millionaire’s Club,” starring Berkshire Hathaway chairman and legendary billionaire Warren Buffett. Although the cartoon was supposed to be released three years ago, kids across the country will finally have access to a wealth of money tips courtesy of Buffett himself.
 
“The Secret Millionaire’s Club” is the main focus of a project that is geared toward promoting financial literacy among the earners and spenders of tomorrow. In the cartoon, Buffett will dispense plenty of useful tips that will help kids to …read more

In a move that will undoubtedly draw some ire from rival North Korea, Ericsson AB, the top provider of wireless networks in the world, has decided to set up a research center in South Korea. This research center will involve an investment of $1.5 billion over the next five years into the Asian country.
 
According to Ericsson’s CEO Carl-Henric Svanberg, the research center will be devoted to developing “fourth-generation” wireless technologies that are more environmentally friendly than previous generations. In addition to the research center, Ericsson will hire 920 more employees in its South Korea division, increasing the number of employees …read more