United States loses AAA credit rating from S&P

United States loses AAA credit rating.

United States loses AAA credit rating from S&P

The United States lost its top-notch AAA credit rating from Standard & Poor’s on Friday, in a dramatic reversal of fortune for the world’s largest economy.

S&P cut the long-term U.S. credit rating by one notch to AA-plus on concerns about growing budget deficits.

U.S. Treasuries, once undisputedly seen as the safest investment in the world, are now rated lower than bonds issued by countries such as the UK, Germany, France or Canada.

The outlook on the new U.S. credit rating is negative, S&P said in a statement, a sign that another downgrade is possible in the next 12 to 18 months. (Source: Reuters)

Not too surprising.

City Harvest to co-own Suntec

Mega church City Harvest Church (CHC) moves to snap a downtown property. Church plays monopoly?

Church to co-own Suntec

Amid cheers from the congregation, City Harvest Church (CHC) yesterday announced that it will pay $310 million to become a co-owner of Suntec Singapore, a prime piece of downtown real estate.

Senior pastor Kong Hee broke the news first at CHC’s service at its Jurong West building, then later at another service at the Singapore Expo in Changi.

He said CHC had acquired a ‘substantial stake in a consortium company that owns 80 per cent of a joint venture fund that owns Suntec Singapore’.

The complex’s full name is Suntec Singapore International Convention and Exhibition Centre.

The $310 million includes the cost of acquiring shares in the consortium, rental costs, renovation costs and others.

Suntec Singapore was acquired by ARA Asset Management through the ARA Harmony Fund last year, with its investors comprising Suntec Reit – which holds 20 per cent – and a consortium company which holds 80 per cent. (Source: The Straits Times)

Good investment?

How companies are stolen in Russia

Bill Browder, MBA ’89, founder and CEO, talks about Hermitage Capital Management’s investments in Russia and the fall out from the widespread corruption that still pervades Russia’s economy. Recorded Oct. 22, 2009

Hermitage CEO Browder: Don’t Invest in Russia Today

Thought-provoking. If you have an hour to spare, you should watch this video.

Listen to France president speak English

What to do when you’re really bored? You can listen to Nicolas Sarkozy (France President) speak:

Sarko et la langue de Shakespeare!?

What he’s trying to say is:

You are welcome to invest in France. We will be happy to help you make money in France. And of course to make some money with you for us.

Nicolas Sarkozy

Funny stuff.

Sarkozy, by the way, has a very beautiful wife. His third one to be exact. Sarkozy married Carla Bruni (with Italian descent) on just this year if I’m not wrong. Here’s a picture of the French first lady:

French first lady Carla Bruni

(French first lady Carla Bruni.)

Much better than Sarah Palin in my opinion. And speaking of Sarah Palin, she got pranked by Montreal comedy DJ duo:

Sarah Palin gets pranked by “Nicolas Sarkozy”

Sarah Palin spend much time boot licking. The best is that this is recorded and she sounded… Never mind.

I just signed an investment policy

This morning, I met up with a friend to sign some sort of a lump sum investment policy where I placed this sum of money and praying hard for returns of maybe about 4 to 12%. Even if I don’t earn, it’s fine, so long as the ask-bid price is nicely covered up. The worst thing that code happen is lost of money.

I came back home and saw Tian Hong mentioning of some sort of an investment fraud with a certain investment company. (You could head over to his blog to learn more.) I got a little uncomfortable and wondered if I made the right choice.

I think lump sum short term investments are good generally. There’s a certain amount of risk of course. I signed up with a friend too. She’s working for an insurance company that’s quite reputable. I just hope that everything goes right.

Don’t intend to invest for long, probably about 3 years only.

Starbucks closing 600 stores in the US

Oh no, the US economy is apparently not doing well. Starbucks closing 600 stores. US is about Starbucks right?

Starbucks closing 600 underperforming stores in the United States

SEATTLE (AP) — Starbucks Corp. has announced it’s closing 600 underperforming stores in the United States.

The Seattle-based premium coffee company also announced Tuesday it expects to open fewer than 200 new company-operated stores in the United States in fiscal 2009.

The company says it will try to place workers from closed stores in remaining Starbucks. (Source: Yahoo)

With the US dollar dropping and the local dollar appreciating, it’s even harder to get a decent earning from US cheques. It probably is a good time to buy into foreign markets, taking advantage of the good rise in local dollar. Not the US market though.