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Direct Line Sells Division for $700 M, UK Mail Tumbles 13%

Nigel Thomas
25 Sep, 2014
New York City

Direct Line agreed to sell its international business for

New Six-year Low in Yen and High in Nikkei and Topix

Hiruki Nakamura
25 Sep, 2014
New York City

The yen declined to a new six-year low and lifted market indexes to a new six-year high after investors increase stock exposure ahead of dividends. The yen closed at 109.25 against one dollar and the Nikkei Average gained 1.3%.

Australian Dollar and Stocks Face Perfect Storm

Marcus Jacob
25 Sep, 2014
New York City

Australian banks led the latest decline in stocks after the Aussie dollar dropped to the yearly low on the unwinding of yield-trade. Australia is facing weakening commodities prices, falling Aussie dollar and the exit of international investors.

State Bank of India Approves Stock Split, Andhra Bank Plunges 12%

Mukesh Buch
25 Sep, 2014
New York City

Andhra Bank plunged 12% on worries of loans to coal miners who are facing license cancellation. Jaypee Infratech tumbled after RPower abandoned to buy three hydropower projects. Punjab Alkalies surged after government approved divestment. SBI board approved 10-for-1 stock split.

U.S. New Home Sales Data Lifts Stocks on Wall Street

Nichole Harper
24 Sep, 2014
New York City

Stocks on Wall Street gained after a three-day slump and new home sales rebounded sharply after three months of volatile data. Wal-Mart Stores Inc plans to launch checking account services that does not charge overdraft fees. India successfully placed its satellite in Mars orbit.

Nikkei in Tokyo Extend Losses

Hiruki Nakamura
24 Sep, 2014
New York City

Nikkei Stock Average dropped again on the weakness in metal and crude oil prices. The yen rebounded from its six-year low. Starbucks is set to acquire remaining stake in the Japan subsidiary. Amada Co, the maker of laser machinery estimated higher than expected six-month profit.

Bed Bath & Beyond, Paychex, Vail Resorts Jump; KB Home Drop

Mukesh Buch
24 Sep, 2014
New York City

Accenture net jumped 5%. AAR net tumbled 20% and revenue declined 9%. Bed Bath & Beyond profit plunged 10% but sales increased 4%. KB Home net edged up on 7% increase of revenue. Paychex net jumped 5%. Vail Resorts net loss widened but sales climbed.

Australian Indexes Fall on Five-Year Low Iron Ore Price

Marcus Jacob
24 Sep, 2014
New York City

Australian market indexes slipped and banks and miners extended the decline as the ASX index has wiped out all the gains in the year so far. Australia lowered its estimate of iron ore price to $94 a ton from $105 a ton. Reserve Bank of Australia focused on curbing speculation in housing market.

IDBI Bank Plunges on Coal Loan Worries, SAIL to Expand Capacity

Mukesh Buch
24 Sep, 2014
New York City

Aditya Birla group is in talks with Educomp to acquire its schools business. IDBI Bank plunged after Supreme Court order on scrapping coal blocks. SAIL finalized its production capacity of 50 million tons by 2025. Thermax won an export order worth about Rs 339 crore.

Barclays Faces UK Fines, TNT Express Tumbles

Nigel Thomas
24 Sep, 2014
New York City

Arrow Global agreed to acquire Capquest for

CF Ind and Yara in $2.7 B Merger Talks; Ascena Retail, CarMax Plunge

Mukesh Buch
23 Sep, 2014
New York City

Ascena Retail net rose but sales dropped. Boeing received an order from Ethiopian Airlines valued at list price of $2.1 billion. CF Industries is in merger talk with Yara International. Carnival net surged 37%. CarMax net and revenue soared 10%. Ennis net rose 2%.

U.S. Crackdown on Inversion Deals and Eurozone Slowdown Hit Global Markets

Nichole Harper
23 Sep, 2014
New York City

On Wall Street market indexes struggled after the U.S. Treasury issued new rules to crackdown on inversion deals. At least eight large deals that are announced but not completed are likely to face higher costs or regulatory obstacles.

Philips to Spin-off Business, Yara and CF Industries in Merger Talks

Nigel Thomas
23 Sep, 2014
New York City

Eurazeo sold remaining 7.13% stake in Rexel for

China Manufactruing Data Lifts Australian Indexes

Marcus Jacob
23 Sep, 2014
New York City

Australian indexes rebounded after a private survey in China showed manufacturing sector expanded. Aussie dollar traded volatile in the day as precious metals and crude oil prices remained under pressure. Kathmandu Holdings, the retailer of travel products said annual net fell 9%.

Sensex in India Plunges 1.6% on Global Worries

Mukesh Buch
23 Sep, 2014
New York City

Bajaj Electricals won contract worth Rs.108.63 crore. EIL secured a consultancy contract from Assam Petrochemicals. IFCI divest its stake in Tourism Finance Corp. Sunil Hitech forecasted revenue of fiscal 2015 of about Rs 2,200 crore.

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