Wall Street Rumors - March 25, 2008

Daily Rumors Covering the Global Markets. Subscribe to the Daily Rumors Update Here.

10 Reasons Taxes Are Going Up

Well, folks, the party’s over. Campaign rhetoric won’t hide America’s excesses, denial, incompetence and arrogance much longer. No matter who’s elected, taxes will increase to cover massive debts.

Dow Jones Bottom?

That suggests a stubbornly held bearishness among the editors of stock market timing newsletters. That in turns means that there is precisely the kind of wall of worry that strong rallies like to climb.

Nippon Steel Corporation Invests 500 Billion Yen in Brazil

Japan’s Nippon Steel Corp. plans to spend 500 to 600 billion yen ($5 to $6 billion) on an integrated facility in Brazil, reported the Nikkei Tuesday, without citing a source.

Japan Real Estate Boom in Big Trouble

The transformation of Japanese real estate into a financial product has helped to draw investments from abroad and underpin higher land prices, but the same forces are poised to deflate the market, according to a published report.

Chesapeake Energy Corporation Boosts Capital Budget

Chesapeake Energy Corporation (NYSE: CHK) said it is expanding gas drilling in several areas around the country and, in a departure, drilling for oil, as well, a sign that natural-gas producers are betting on prolonged high energy prices.

Google Asks FCC for Access to Unused Television Airwaves

Less than a week after emerging as the “happy loser” in the latest U.S. wireless-spectrum auction, Google Inc. (NASDAQ: GOOG) renewed a pitch to use TV “white space” — unlicensed and unused airwaves — to provide Internet service.

Is Vornado Realty Trust a Buy?

For those who believe that losses from skyscrapers and shopping malls won’t be nearly as severe as in the housing market, Vornado Realty Trust (NYSE: VNO) looks like a bargain.

NEW Blackberry 8820 Launches

Research In Motion Limited (NASDAQ: RIMM) released its brand new BlackBerry 8820 on sale at T-Mobile, part of Deutsche Telekom (NYSE: DT). I guess it’s time to go shopping for a new blackberry, huh?

Africa Looks to Get Connected Globally

Africa’s stunning lack of basic services, such as electrical and telephone grids and Internet connectivity, might cause many to despair, but Euvin Naidoo — a leading advocate for Western investment in the underdeveloped continent — looks at the map and sees something different: hope.

Sasol Sells 10% Stake to Black Investors

Sasol Ltd. (NYSE: SSL), the world’s biggest producer of motor fuel from coal, will sell shares valued at 25.9 billion rand ($3.2 billion) to black investors in South Africa’s largest redistribution of wealth since the end of apartheid.

Tata Motors Buys Ford Brands for $2.65 Billion

Tata Motors Limited (NYSE: TTM) Agrees to buy Jaguar and Land Rover brands for $2.65 billion, news channel NDTV Profit said on Tuesday, citing unnamed sources.