BOSTON (TheStreet) -- Mario Monti's decision to name himself Italy's finance minister leads your quick fix of company, market, economic and investing news for Wednesday, Nov. 16.
Wednesday's 5 Biggest Stories
As if becoming Italy's new prime minister wasn't a tough enough task, Mario Monti will also be the country's finance minister. [CNN]
The Internet is buzzing this morning because of this report that says Newt Gingrich was paid up to $1.8 million in consulting fees by Freddie Mac. [Bloomberg]The breathtaking selloff in eurozone bond markets yesterday made for the most worrying day of the crisis yet. [FT] Did someone say 'contagion'? The Bank of Japan lowered its economic view due to Europe. [Bloomberg Businessweek] More woes on Wall Street: Citigroup (C) is weighing 3,000 job cuts. [Bloomberg]
Quote of the Day"You know how screwed up Europe is when you have a German pope and an Italian central banker," hedge fund manager Kyle Bass said of the eurozone crisis, adding that the only resolution is a massive debt restructuring. [BBC]
Company NewsIs Jerry Yang going to screw over Yahoo! (YHOO) shareholders again? [NYT DealBook] Dell (DELL) said the Thailand floods hurt supplies as the computer maker offers a cautious outlook. [WSJ] What Goldman Sachs (GS) and JPMorgan Chase (JPM) are forgetting to tell us about their debt exposure. [Bloomberg] Pepsi's (PEP) board is reportedly split over a split. [NY Post]
MarketsFor all the handwringing over volatility, the S&P 500 has seen its intraday trading range shrink over the past two weeks. [Bespoke] We joked about it, but they went ahead and did it anyway. Presenting the new Social Media ETF (SOCL). [Reformed Broker]
Investment StrategyIf you want to invest like Warren Buffett, simply buy companies founded in the 19th century. [Infectious Greed] Those looking to short Groupon (GRPN) have a long wait ahead of them. [Reuters] Sorting out the argument of stock buybacks versus dividends can cause a headache. [Abnormal Returns]
Odds and EndsMark Cuban, who recently said he's 50% in cash, offers his view on corporations and taxes. A must-read. [Blog Maverick] This classic Billy Idol track came on during my walk to work this morning. It'll get you pumped for your Wednesday, too. [YouTube] -- Written by Robert Holmes in Boston.
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