Dollar Rises Against Pound
–(www.FinancialNewsUSA.com)– 01/04/2010 – Credit Services industry news provided by Financial News USA. The dollar strengthened against the euro and the yen as last-minute positioning on the final full day of trading in 2009 and thin liquidity combined to cause sharp price movements during the session. The U.K. pound gained more than 1% versus the greenback, mainly due to position adjustment, said traders. [Read the full article]
After months of fierce competition, University of Cincinnati Bearcat proved to be the beast of the gridiron, having pulled in the majority of the millions of votes cast to earn the coveted title of Capital One National Mascot of the Year. Bearcat edged out the potent and powerful Bill the Goat from the United States Naval Academy in the championship round. The highly anticipated announcement was made on air during halftime of the nationally televised Capital One Bowl. Bearcat defeated 11 deeply talented (and oddly-proportioned) All-American mascots to bring glory (and $20,000) to the University of Cincinnati.
“Once again, this was one of the most anticipated and fiercely fought competitions to date, featuring two mascots that proved they belong with the best of the beasts, said Steve Schooff at Capital One. [Read the full article]
Berkshire Hathaway’s (BRK.A) equity portfolio posted strong results in the fourth quarter with an estimated return of 7.6% compared to a 5.5% return for the Standard & Poor’s 500 index. During the quarter, Berkshire reduced its stake in Moody’s (MCO) by 18.9% and also liquidated investments in Norfolk Southern (NSC) and Union Pacific (UNP) to preempt any competitive concerns related to the upcoming acquisition of Burlington Northern Santa Fe (BNI). Berkshire has been reducing its stake in Moody’s gradually over the past two quarters, perhaps due to concerns regarding the durability of the economic moat of credit ratings agencies in light of high profile failures of highly rated securities in the financial crisis of 2008-09. At the 2009 annual meeting, Berkshire Chairman and CEO Warren Buffett made comments regarding the ratings agencies that many viewed as lukewarm at the time. Further sales going forward would not be surprising. [Read the full article] About Financial News USA
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