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Australian Rates on Hold for 6th Month, Qantas to Split in Two Airlines

Marcus Jacob
04 Mar, 2014
New York City

Reserve Bank of Australia left its key lending rate at record low 2.5% for the sixth month in a row. Governor Glenn Stevens also renewed his campaign to lower the Aussie dollar. Government agreed to amend legislation to split Qantas into two carriers.

India Movers: Ashok Leyland, Bharti Airtel, GMR, HCC, IVRCL

Mukesh Buch
04 Mar, 2014
New York City

Ashok Leyland February sales declined 21%. Bharti Airtel seek to acquire telecom licences and subscribers of Essar Telecom Kenya for $100 million. GMR won rail line projects worth Rs 267 crore in Uttar Pradesh. HCC secured Rs 903 crore order from Karnataka.

Global Markets Tumble on Rising Tensions in Ukraine

Nichole Harper
03 Mar, 2014
New York City

U.S. indexes extended world markets sell off after tensions in Ukraine escalated and Russia took steps to increase its military strength in Crimea. Markets in Germany fell 3%, in Poland declined 4.5% and in Russia plunged 11%. Crude oil and gold added 2%.

Caesars in $2.2 Billion Casino Deal, Nu Skin Drops 6%

Mukesh Buch
03 Mar, 2014
New York City

Caesars Entertainment agreed to sell its four casinos to Caesars Growth for $2.2 billion. Icahn Enterprise profit surged. Magellan Health net tumbled 50%. Nu Skin sales and net soared. QR Energy net swung to profit. Tyco agreed to sell its security business in South Korea.

Russian Ruble and Stocks Plunge, European Markets Decline

Nigel Thomas
03 Mar, 2014
New York City

European markets plunged and extended worldwide market selloff after Russian lawmakers authorized President Vladimir Putin to increase military strength in Crimea. The benchmark index in Russia declined 11% and Russian ruble traded at a new low against the U.S. dollar.

Europe Earnings: Lifeline, Metro, Numericable, Smiths News, Thorntons

Nigel Thomas
03 Mar, 2014
New York City

European markets plunged on rising tensions in Ukraine. Metro plans to raise

Nikkei Falls 1.3% in Asian-wide Sell-Off

Hiruki Nakamura
03 Mar, 2014
New York City

The Nikkei in Tokyo plunged 1.3% and the yen gained as tensions mounted in Eastern Europe. Russia

Australian and Asian Markets Plunge

Marcus Jacob
03 Mar, 2014
New York City

Australian market indexes declined and the dollar edged lower against after Ukraine faced a military action from Russia. Transpacific Industries said it plans to sell its New Zealand based waste management business to China based fund.

India Movers: Bajaj Auto, Maruti, M&M, Tata Motor, TVS

Mukesh Buch
03 Mar, 2014
New York City

Atul Auto February sales surged 18.9%. Bajaj Auto sales dropped 6% but export jumped 5%. Maruti Suzuki sales fell 0.8% and export plummeted 20%. M&M auto sales declined 12% after domestic sales slipped 11% and export plunged 17%. Tata Motor February sales plunged 36%.

Another Record High for S&P 500, U.S. Growth Estimate Lowered to 2.4%

Nichole Harper
28 Feb, 2014
New York City

U.S. indexes scaled to fresh highs after the consumer confidence index improved. U.S. lowered its economic growth estimate in the fourth quarter to 2.4%. Monster Beverage reported better than expected sales. Citigroup lowered 2013 earnings on fraud in Mexico.

Dril-Quip Soars; Arena Pharma, Salesforce, Southwestern Energy Fall

Mukesh Buch
28 Feb, 2014
New York City

Arena Pharma net loss in the quarter widened but revenue surged. Dril-Quip surged after revenue and profit climbed. J.C. Penney net swung to a profit. Salesforce.com said net loss widened but revenue climbed. Southwestern Energy net swung to a profit.

Europe Earnings: Andritz, Old Mutual, Pearson, Rightmove

Nigel Thomas
28 Feb, 2014
New York City

Andritz net plummeted 73% but the new and backlog of orders surged. Old Mutual net tumbled 33% to

Nikkei in Tokyo Slips, Japan Post Unveils Investment Plan

Hiruki Nakamura
28 Feb, 2014
New York City

Stocks in Tokyo edged lower and the Nikkei closed down 0.2% for the week and fell 0.9% in the month. Itochu, the first Japanese company took a stake in water utility in Spain. Japan Post unveiled an investment plan for the next three years.

Earnings Lift Australian Indexes 4% in Feb, Woolworths Up 6%

Marcus Jacob
28 Feb, 2014
New York City

Australian stocks struggled for the second day after the release of weak capital spending outlook. However, better than expected earnings lifted the indexes by 4% in February. Woolworths reported best first-half year results in three years and lifted full-year outlook.

India Movers: Bharti Airtel, Bosch, L&T, M&M, Tata Power, Titan

Mukesh Buch
28 Feb, 2014
New York City

Bharti Airtel fined $4 million by the Nigerian telecom regulator. Bosch net declined 19%. L&T won new orders worth Rs. 5,220 crore. M&M profit fell 2% but revenue jumped 8%. Tata Power sells its 30% stake in Indonesia based power subsidiary. Tech Mahindra acquired BASF IT.

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