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Nikkei Plunges 2% in Asian Markets, Oil Extends Losses

Hiruki Nakamura
16 Dec, 2014
New York City

Stocks in Tokyo and Asia declined for the second day on the dramatic turn of events in Russia. Nikkei dropped 2% and extended two-day sell-off after Russia hiked interest rate by 6.5% to ward off capital flight. Asahi Holdings Inc agreed to acquire Johnson Matthey Plc for $186 million.

India Faces Hurdles in Collecting $2.4 B for Lost Production in KG D6

Mukesh Buch
16 Dec, 2014
New York City

IDBI Bank won the government approval to sell its 5% stake in National Stock Exchange. Motherson Sumi plans to acquire Germany-based Scherer & Trier worth Rs 283 crore. Oil ministry faces hurdles in recovering $2.4 billion for the lost oil production from KG D6 block.

Russian Ruble Plunges 9%, European Markets Drop 2%

Nichole Harper
15 Dec, 2014
New York City

Stocks traded lacklustre in New York and Europe after oil price weakness extended to the sixth day in a row. Russian ruble plunged 9% and dropped to a record low of 64 against one dollar sparking capital flight of $125 billion. Market indexes across Europe drop more than 2%.

Abe Led Coalition Wins Two-Thirds Majority in Parliamentary Election

Hiruki Nakamura
15 Dec, 2014
New York City

Prime Minister Shinzo Abe

Oil India Wins Exploration Rights in Myanmar

Mukesh Buch
15 Dec, 2014
New York City

Bharti Airtel plans to sell 1,100 telecom towers in Zambia and Rwanda to IHS. GMR Infra

Apache Sell LNG projects; PetSmart and Riverbed Going Private

Mukesh Buch
15 Dec, 2014
New York City

Apache agreed to sell its stake in its two LNG projects to Woodside Petroleum for $2.8 billion. Emerson Electric agreed to sell power transmission unit for $1.4 billion. PetSmart agreed to be acquired by a consortium for $8.7 billion. Thoma Bravo plans to acquire Riverbed for $3.6 billion.

Technip Abandons CGG Acquisition, Danske Bank Reaffirmed Outlook

Nigel Thomas
15 Dec, 2014
New York City

Carpetright pre-tax profit surged on 3% increase in revenues. Danske Bank estimated goodwill impairments of about 9 billion kronor. Johnson Matthey agreed to sell its gold and silver refining business to Japan-based Asahi Holdings for

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.

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