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Australia Faces Rising Budget Deficit and Slowing Economy

Marcus Jacob
15 Dec, 2014
New York City

Australian stocks traded lower and the Aussie declined after the mid-year review of federal government budget showed a slowdown in revenues and deficit to surge to $40 billion. Recall Holdings rejected takeover offer.

Deepening Oil Plunge Drives Global Financial Markets Selloff

Nichole Harper
12 Dec, 2014
New York City

Global markets accelerated decline after oil price loss in the year extended to 44%. The latest decline in oil price was driven by the lowered global oil demand growth in 2015. Currencies of oil producing nation including Russia, Norway, Venezuela and Middle Eastern stock markets took another hit.

Japan Markets Advance on Weekend Election Hopes

Hiruki Nakamura
12 Dec, 2014
New York City

Tokyo indexes closed higher ahead of parliamentary election. Prime Minister Shinzo Abe

Adobe to Acquire Fotolia for $800 M; Esterline Plunges

Mukesh Buch
12 Dec, 2014
New York City

Adobe Systems agreed to acquire privately-held Fotolia for about $800 million in cash and profit jumped 12%. Dominion Diamond net swung to profit. Esterline Technologies net swung to a loss. Nordson profit soared 21% on 14% increase in revenues. Quiksilver net loss narrowed.

Carillion Offers

Nigel Thomas
12 Dec, 2014
New York City

Conwert Immobilien agreed to sell two portfolios to a Czech company for about

Reserve Bank of Australia Holds Out for Lower Aussie Dollar

Marcus Jacob
12 Dec, 2014
New York City

In volatile trading Australian market indexes plunged deep in red several times but at close managed to pare gains. Crude oil, iron ore, gold closed down at multi-year lows. Australian dollar declined to a 54-month low after RBA governor Glenn Stevens talked down the currency.

Tata Power to Explore Setting Plants with Russia Fund

Mukesh Buch
12 Dec, 2014
New York City

Alstom won an order worth 246.20 crore from MSETCL. IL&FS Eng received a contract worth Rs 464 crore from Saudi Binladin Group. Tata Power and Russian Direct Investment Fund agreed to explore setting up power plants in Russia.

S&P 500 Index Advances 1.2% on Retail Sales Jump of 0.7%

Nichole Harper
11 Dec, 2014
New York City

Stocks on Wall Street surged after better-than-expected increase in retail sales offered yet another confirmation of widening and improving economic activities. Retail sales rose 0.7%, weekly new claims of unemployment were below 300,000 and import price inflation was at a 2-year low on cheaper oil.

Ciena, Lululemon, Lowe's,Yum Brands Climb

Mukesh Buch
11 Dec, 2014
New York City

Ciena net loss widened after revenues barely rose 1%. Danaher reaffirmed fiscal outlook. Lululemon revenues rose 9% but net dropped by the same amount. Lowe''''s jumped on positive outlook. Methode Electronics net surged 31%. Yum! Brand profit guidance.

Nikkei in 2-day Slump, Nippon Telephone and Sosei in Focus

Hiruki Nakamura
11 Dec, 2014
New York City

Stocks in Tokyo closed lower and extended 2-day losses to more than 3% after investors worried about the impact of the sharp plunge in oil prices since July. Hair transplant service provider and wigs maker, Aderans Co Ltd said sales growth though brisk edged lower in November.

Inditex Sales Growth Accelerates; Supergroup, Whitbread Net Climb

Nigel Thomas
11 Dec, 2014
New York City

Inditex profit rose 1% to

Australian Jobless Rate at 12-year High, Stocks Decline

Marcus Jacob
11 Dec, 2014
New York City

Australian unemployment rate increased to a 12-year high as the job creation slows down and energy companies curtail investments. Santos Limited plunged 8% after the natural gas explorer announced 25% cut in 2015 exploration budget, following other energy companies.

M&M to Buy a Stake in Saab, ONGC Wins Oil Rights in New Zealand

Mukesh Buch
11 Dec, 2014
New York City

Government approved to close down EIL unit in Malaysia. M&M agreed to acquire a stake in Sweden-based Saab. NTPC signed two term loan agreements worth Rs 3,000 crore. ONGC won an offshore oil and gas exploration block in New Zealand.

Oil Drops 4% on 2015 Demand Outlook from OPEC, World Markets Slide

Nichole Harper
10 Dec, 2014
New York City

Stocks in New York and in Europe extended two-day losses after crude oil deepened losses on a weak outlook from the OPEC. The 12-member organization estimated world demand for its oil to drop to a 12-year low in 2015.

Belden to Acquire Tripwire; Costco, Toll Brothers Profit Surge

Mukesh Buch
10 Dec, 2014
New York City

Belden agreed to acquire Portland-based privately-held Tripwire for $710 million. Costco net soared 17% on 7% increase in revenues. Comverse net tumbled 96%. Ferrellgas net loss widened. Krispy Kreme profit climbed 19%. Korn-Ferry net soared 35.1%. Toll Brothers net surged 39%.

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