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Stocks Rally on PPI and Housing Data

Arthi Gupta, Mayank Mehta and Sanjay Barot
18 May, 2010
New York City

US stocks gain as strong housing starts data and tame inflation data boosted sentiment. Housing starts rise by 5.8% and PPI decreases 0.1% in April. Fidelity National to pursue leveraged recapitalization after buyout bid fades.

Australia Supports Higher Resource Taxes

Mayank Mehta, Chandrasekhar Atreya and Darlington Musarurwa
18 May, 2010
New York City

Australian government said its proposal to impose 40% tax on resource companies is an effort to make structural changes in how it incentivizes investments. The dollar fell after The RBA releases minutes of latest meeting. Macarthur Coal rejected takeover proposal by Peabody Energy.

Consumer Confidence Rises in Japan

Mayank Mehta, Chandrasekhar Atreya and Darlington Musarurwa
18 May, 2010
New York City

Stocks in Tokyo rose after consumer confidence increase in April. Bank of Japan resumes supply of US dollars. Department store sales decline 3.7% in April and sales in the Tokyo area contracted 4.9%.

Astellas Agrees to buy OSI for $4 Billion

Chandrasekhar Atreya
18 May, 2010
New York City

Japanese drug maker Astellas Phrama agrees to buy US firm, OSI Pharmaceuticals, maker of cancer drug Tarceva, in a share-cash bid, to stem dropping sales, gain control of experimental treatments for cancer, and also a geographical presence in the US market.

China Stocks Fall; FDI Climbs

Mayank Mehta, Chandrasekhar Atreya and Darlington Musarurwa
17 May, 2010
New York City

Hong Kong shares fall across the board. Goldwind receives the H-share initial public offering. Qatar Petroleum, Shell and Petrochina sign new exploration and production sharing agreement. Beiqi Foton plans to build a new unit in Shandong. Evergrande is set to extend discounts.

Australian Stocks Slip, Queensland Rail IPO

Mayank Mehta, Chandrasekhar Atreya and Darlington Musarurwa
17 May, 2010
New York City

There is room for negotiation in the 40% proposed super profit mine tax. BHP says new tax makes Australia less competitive. Queensland government plans a public offering to sell part of its rail assets. Elders Ltd. profit rises to A$1.1 million in the first half.

Nikkei Slips; Astella Revises OSI Offer

Mayank Mehta, Chandrasekhar Atreya and Darlington Musarurwa
17 May, 2010
New York City

Astellas Pharma makes a revised offer to buy OSI Pharmaceuticals. Japan

Euro Plunges; Crucial EU Meet Today

Arthi Gupta, Mayank Mehta and Sanjay Barot
17 May, 2010
New York City

European indices decline on persistent concerns over Europe''s economic woes. Euro plunges to 4-year low versus dollar. Hochtief AG first quarter order backlog surges. Wipro teams with SAP to develop deliver sustainability solutions.

Sensex Falls on Euro-zone Worries

Mayank Mehta, Chandrasekhar Atreya and Darlington Musarurwa
17 May, 2010
New York City

Stocks in Mumbai fell most in three months on the ongoing eurozone worries and sharp declines in Asian markets. Monsoon is forecasted to arrive ahead of schedule. Oil stocks slide as crude declined. ABB is aiming to increase stake in Indian unit to 75%. Madhucon postpones its IPO by a year.

Pound Slides; Man Group to Buy GLG

Arthi Gupta, Mayank Mehta and Sanjay Barot
17 May, 2010
New York City

U.K. stocks gain but a slowdown in U.K. house price growth raises concerns about the health of the economy. The pound hits a 13-month low against the dollar. Prudential launches $21 billion rights issue. Man Group agrees to acquire GLG for $1.6 billion.

GLG Partners Gain; Lowe

Mayank Mehta
17 May, 2010
New York City

Lowe

U.S. and Global Markets Struggle

Arthi Gupta, Mayank Mehta and Sanjay Barot
17 May, 2010
New York City

U.S. stock futures fall as traders weigh the lingering European debt crisis and the tumble of the euro to a 4-year low. The European markets have recouped their early losses and are moderately higher. Astellas agreed to buy OSI Pharma for $4 billion. Lowe''s, GM first quarter profit rises.

World Stocks, Euro, Oil Drop

Mayank Mehta, Arthi Gupta and Darlington Musarurwa
14 May, 2010
New York City

Euro-zone breakup talks gained considerable momentum after Paul Volcker and others expressed doubts on the health of the region. Euro dropped to 18-month low and gold reached a new high. Oil fell as much as 4%. Chinese debt auction drew less than expected interest for the second time in a month.

Visa, MasterCard Plunge 9% on Charge Limits

123jump.com Staff
14 May, 2010
New York City

Visa Inc and MasterCard Inc dropped as much as 10% after Senate approved a late hour amendment to the bill that empowers the Federal Reserve Bank to limit interbank charge.

Nervous Investors Drive Euro, Indexes Lower

Arthi Gupta, Mayank Mehta and Sanjay Barot
14 May, 2010
New York City

The euro touched an 18-month low on concerns that the austerity measures in the euro-zone may slow growth. EADS NV and Banca Monte dei Paschi di Siena SpA report lower profits.

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