Subscribe to Dollars & Sense magazine. Recent articles related to the financial crisis. The Alchemy of FinanceA truly wacky story, from today's Financial Times:VW vies for title of world's biggest company By Richard Milne in London Published: October 28 2008 09:34 | Last updated: October 28 2008 11:02 Volkswagen briefly became the world's largest company by market capitalisation on Tuesday as panic-buying by hedge funds desperate to cover losses caused its value to shoot up by up to 150bn euros. Shares in Europe's largest carmaker soared as high as 1,005 euros in early trading, having closed at about 210 euros on Friday. That gave it a market capitalisation of around 296bn euros ($369bn), higher than that of ExxonMobil, the oil company that closed on Monday with a value of $343bn. Read the rest of the article Labels: financial crisis, hedge funds, Porsche, Volkswagen |
