Here are some recent financial summaries and snippets.

• Retail money market funds in the US rose by $8.99 billion in the business week ending May 12/06. This includes $6.99 bln taxable and $2 bln tax-exempt fund assets.
• Should Canadian investors buy shares in the Big Five Canadian banks? Gary Norris thinks its time, and explains why. Primarily, it’s due to relative stability, and the ability for bank share prices to bounce back - but within a few years after a deep dive - unlike some tech sector stocks that never regain. Norris quotes 10-year compound annual stock-price gains of between 14-19%, but these will likely be declining. Sounds like pretty safe, long-term investments, generally speaking. Doubling your money in seven years doesn’t sound too bad.
• Apple may have switched from their own chips to Intel chips, but top-tier computer maker Dell is switching to AMD (Advanced Micro Devices). AMD has had a recent campaign to push their energy-saving CPU (Central Processor Unit) chips. According to Cramer’s “Mad Money” TV show, this pushed both Dell and AMD stocks.
• Speaking of Mad Money, TheStreet.com is offering 14 days free access to Jim Cramer’s personal portfolio. You’ll get an email from him before he takes any action on his portfolio. He explains his rationale for each action. I assume the rationale behind this free access is so that you’ll eventually get a paid subscription.
• Street Signs TV show reports today that former Enron executives Jeffrey  Skilling and Kenneth Lay have been found guilty and convicted of fraud, amongst other charges. They’ll serve approximately 19 months in jail (problem minimum security) earning about US$0.40/hr. They are, however, convicted of between 165-175 years each.
• Yahoo and eBay form a strategic advertising partnership whereby Yahoo provides graphical advertising to eBay. The intent is to take on Google’s advertising network. [Source: Closing Bell TV show]
• The Sydney Morning Herald reports that Australians are sinking deeper into money crisis due to higher gas/petrol prices and interest rates. Let’s hope that they do not get into the situation that New Zealand did in the 1990s, where the IMF (International Monetary Fund) had to bail the country out.

Tags: financial news, money market funds, fraud convictions