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PPI Down 0.3%; U.S. Stocks Follow

Arthi Gupta, Mayank Mehta and Sanjay Barot
16 Jun, 2010
New York City

U.S. stocks tumble after PPI falls 0.3% and housing starts plunge 10% in May. Abbott and Neurocrine agree to develop and commercialize Elagolix. FedEx quarterly profit rises.

Six-day Rally in India Stocks

Mayank Mehta, Chandrasekhar Atreya and Sanjay Barot
16 Jun, 2010
New York City

Stocks in India extended it gains to the sixth day today as the market was buoyed with earnings growth across all sectors. Higher advance tax payment by most Indian firms supported domestic index gains.

Nikkei Gains 1.8%, Crosses 10,000

Mayank Mehta, Chandrasekhar Atreya and Sanjay Barot
16 Jun, 2010
New York City

Stocks in Japan advanced for the fifth consecutive day today after the Federal Reserve Bank of New York said its general economic index of manufacturing rose for the 11th consecutive month in June, adding to the buoyancy in the market.

Global Sentiment Lift Stocks in Australia

Mayank Mehta, Chandrasekhar Atreya and Sanjay Barot
16 Jun, 2010
New York City

Resource tax on super profits will not be changed from 40% and set at different levels for different commodities, Resources Minister Martin Ferguson said, as companies sought a compromise on the tax

FTSE Rises 0.5%; BSkyB Surges

Arthi Gupta, Mayank Mehta and Sanjay Barot
15 Jun, 2010
New York City

The UK indexes gain after annual inflation dips to 3.4% in May. Fitch slashes BP Plc rating. British Sky Broadcasting rejects News Corp''s buyout offer.

First Solar Rises; Polo Ralph, Rentrak Fall

Mayank Mehta
15 Jun, 2010
New York City

Best Buy Co., Inc. led the decliners in the S&P 500 index with a loss of 5.2%. FactSet Research net income rises slightly. FelCor announces public offering of common stock.

Cablevision to Acquire Bresnan for $1.37 Billion

Chandrasekhar Atreya
14 Jun, 2010
New York City

Cablevision Systems Corp has agreed to buy Bresnan Communications Co, owned by Providence Equity Partners Inc, in a definitive agreement for $1.365 billion to expand its services in the western U.S.

European Markets Advance; Trade Surplus Declines

Arthi Gupta, Mayank Mehta and Sanjay Barot
15 Jun, 2010
New York City

European markets rebound after Moody''s lowered its rating on Greece bonds to Ba1 from A3 or ""junk"" status, amid continued financial concerns for the country but offered a stable outlook.

U.S. Stocks Climb; Import Prices Fall 0.6%

Arthi Gupta, Mayank Mehta and Sanjay Barot
15 Jun, 2010
New York City

U.S. stocks trade higher despite Moody''s downgrading of Greece''s debt rating to ""junk"" status. U.S. import prices fall 0.6% in May. BSkyB rejects News Corp.''s buyout offer. Fitch Ratings downgrades BP Plc ratings and Obama pledges to press BP Plc for swifter spill damage payments.

Indian Cabinet Approves Stake Sale in Two Units

Mayank Mehta, Chandrasekhar Atreya and Sanjay Barot
15 Jun, 2010
New York City

The Indian cabinet today approved sale of 10% stake in two state-owned units, Coal India Ltd and Hindustan Copper Ltd as part of it plan to disinvest stake in some 35 state-owned companies.

Home Mortgage Risk High Says China Regulator

Mayank Mehta, Chandrasekhar Atreya and Sanjay Barot
15 Jun, 2010
New York City

China Banking Regulatory Commission said in its annual report published on its Web site that it is seeing growing credit risks in the real estate industry and warned that non-performing loans could pose a threat to the economy.

Greek Downgrade Drags Australian Stocks Down

Mayank Mehta, Chandrasekhar Atreya and Sanjay Barot
15 Jun, 2010
New York City

Australian dollar fell today, snapping its five day against the greenback and its highest rate since May, after the central bank said Europe

BOJ Injects 3 Trillion Yen to Boost Economy

Mayank Mehta, Chandrasekhar Atreya and Sanjay Barot
15 Jun, 2010
New York City

The Bank of Japan has decided to offer as much as 3 trillion yen as loans to companies through banks in an effort to boost the economy. The loans will be for four years and applications from banks will be accepted through March 2012 at the benchmark interest rate, it said in a statement today.

Sensex Gains ; Inflation Rises to 10.16% in May

Mayank Mehta, Chandrasekhar Atreya and Sanjay Barot
14 Jun, 2010
New York City

Annual rate of inflation measured in wholesale price index increased to 10.16% in May compared to 2.67% for a year ago. The index increased 1.7% to 258.1 from 253.7 in April as per a government report released in New Delhi today.

China and Taiwan Agree to Boost Trade

Mayank Mehta, Chandrasekhar Atreya and Sanjay Barot
14 Jun, 2010
New York City

China and Taiwan have agreed to boost trade between mainland China and Taiwan, after the third round of talks ended in Beijing yesterday. China will reduce tariff on about 500 items coming in from Taiwan and in the reverse direction Taiwan will reduce tariff on about 200 items.

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