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Australian Economic Growth Falls to 0.5%

Marcus Jacob
05 Dec, 2012
New York City

Australian economic growth in September quarter declined to 0.5% after household consumption and housing investment growth fell. Banks passed on full 25 basis points decline in rates to consumers.

U.S. Private Sector Adds 118,000 Jobs, Labor Productivity Soars

Arthi Gupta
05 Dec, 2012
New York City

U.S. private sector employment increased less than estimated in November and labor productivity rose in the third quarter. Lowe''s reiterated sales and earnings guidance for the fiscal year. RioCan agreed to acquire a $1.1 billion portfolio of Canadian retail properties.

Euro Zone Retail Sales Fall, Private Sector Activity Declines

Arthi Gupta
05 Dec, 2012
New York City

Euro zone retail sales decreased in October and private sector activity downturn continued in November. The UK service sector activity dipped in November. The Spanish Treasury raised

Europe Movers: AstraZeneca, HSBC, Nokia, Rio Tinto, Tesco

Arthi Gupta
05 Dec, 2012
New York City

HSBC to sell its entire stake in Ping An Insurance for $9.4 billion. Nokia launched Lumia 920T in China. Tesco third quarter group sales increased 2.4%.

U.S. Indexes Trade Lower, Obama Demands More Taxes from Rich

Bikram Pandey
04 Dec, 2012
New York City

U.S. indexes traded lower and President Obama demanded more tax revenues from rich tax payers. November auto sales rose and analysts lifted industry annual outlook. Australian central bank lowered its key rate to 3%.

RBA Lowers Rate to 3%, Australian Current Account Deficit Widens

Marcus Jacob
04 Dec, 2012
New York City

Australian markets halted a 3-day rally and the benchmark index declined 0.6%. Reserve Bank of Australian cut its key lending rate by 25 basis points to 3% and cited global weak economic conditions. Current account deficit widened in the third quarter to $14.9 billion.

Strong Demand Drive Auto Sales, Toll Brothers Revenues Soars 48%

Arthi Gupta
04 Dec, 2012
New York City

U.S. indexes struggled and the dollar inched lower as European markets resumed the advance. November auto sales were ahead of expectations and annual sales are likely to reach record high in the last five years. Atlas Pipeline agreed to acquire Cardinal Midstream for $600 million.

German Exports Improve 3.6%, Baxter to Buy Gambro for $4 Billion

Arthi Gupta
04 Dec, 2012
New York City

Euro zone industrial producer prices eased in October. German exports increased 3.6% in the third quarter. UK construction activity deteriorated and Spanish unemployment rose in November. Baxter agreed to acquire Swedish dialysis products maker.

Europe Movers: BMW, Dexia, Elekta, ICON, Philips, Wolseley

Arthi Gupta
04 Dec, 2012
New York City

Elekta six month net sales rose 22% to SEK 4.18 billion. Wolseley first quarter revenue rose 2.1% to

Republicans Offer $2.2 Trillion Deal, Honda Leads November Auto Sales Advance

Bikram Pandey
03 Dec, 2012
New York City

U.S. indexes closed lower after manufacturing index fell unexpectedly. Republican proposed $1.4 trillion in spending cuts and $800 billion in tax revenues from limiting tax breaks. Auto sales in November were ahead of expectations and Honda led the industry with 39% surge.

Australian Retail Sales Flat and Weak Manufacturing

Marcus Jacob
03 Dec, 2012
New York City

Australian stocks extended gains for the second day in a row after a flood of economic data offered a mixed picture. Manufacturing sector shrank for the eighth month in a row and home prices were flat last month. Retail sales were flat after rising 0.5% in September.

UBS to Settle Libor Probe for $450 Million, Saputo to Buy Morningstar Foods

Arthi Gupta
03 Dec, 2012
New York City

U.S. indexes opened higher and Saputo agreed to acquire Morningstar Foods for $1.45 billion. CSC agreed to sell credit services business to Equifax for $1 billion. UBS is said to near an agreement with American and British regulators to settle rate fixing charges for $450 million.

Weak Euro Area Manufacturing, Greece Announces

Arthi Gupta
03 Dec, 2012
New York City

The European indexes traded higher after a private survey showed improving manufacturing in China. The downturn in the euro zone manufacturing sector eased in November. Greece announced

Europe Movers: Ascent Resources, Cable & Wireless, EADS, Total, UBS

Arthi Gupta
03 Dec, 2012
New York City

Cable & Wireless agreed to sell its Monaco and Islands businesses to Bahrain Telecommunications for $680 million. EADS confirmed plans for potential changes in the company shareholding structure and corporate governance.

Stocks Close Unchanged as Political Rhetoric Notches Up in Washington

Bikram Pandey
30 Nov, 2012
New York City

U.S. dollar inched lower and the euro gained as political rhetoric in Washington ratchet up. Lawmakers show no sign of compromise as the budget negotiation deadline looms. Oil gained and commodities prices edged higher on a cautiously optimistic outlook about economic growth in China.

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