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FTSE Slides 1.7%, Pound Plummets

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

U.K. stocks fall as investors seek refuge in safe-haven currencies. Investors are still jittery about the debt crisis in Europe and the sufficiency of the $1 trillion package to the EU region. Monthly average price of residential property rises. Wolseley plc doubles trading profit.

Newmont, Dillard

Mayank Mehta
14 May, 2010
New York City

Newmont Mining Corporation led gainers in the S&P 500 index with a rise of 1.8%. ITC affirms. Dillard''s net income jumps by six fold. Blockbuster swings to quarterly loss of $67.1 million. Nordstrom profit increases 43% on same-store sales gains.

US. Stocks Track Lower Europe, Record Gold

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

U.S. stocks decline following losses in Europe and gold surged to a record high. U.S. economic data pointed improving conditions with retail sales rising 0.4% in April. Noranda Aluminum slashes IPO by 66%. CA Inc, Nordstrom and JC Penney report higher earnings.

Shanghai Indexes in Bear Zone

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

Stocks in Shanghai dropped today and for the year declined more than 20%. China plans to encourage private investment in hospitals, community health services. Poly Real Estate''''s contracted sales rise 16.2% in the year to April. Hedge fund manager Soros took a stake in Alibaba.com.

Indexes in India Weak; SBI Net Drops 32%

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

India plans debt fund for infrastructure development. OVL inks agreement with Venezuela for oil exploration. Aban Offshore falls as Venezuela says Rig-Sinking is being probed. State Bank of India said fourth quarter net declined 32%.

Japan Stocks Decline; Mizuho Net Surges

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

Nikkei Stock Average declined 1.5% today and dropped 0.9% in the week. Shinsei, Aozora Bank merger proposal scrapped. Mizuho Financial Group profit soars to 239.4 billion yen. Sumitomo Mitsui Financial Group annual profit climbs to 271.5 billion yen in 2009.

Australian Index Drops 0.9%; Healthscope Bid

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

Stocks fell ahead of release of key indices data next week. Healthscope receives A$1.74 billion bid. Gindalbie raises A$175 million for iron ore project. The Australian dollar decreased 0.1% to 89.44 U.S. cents.

Banks, Retailers Fall in New York

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

U.S. stocks closed higher after banks fell on the investigation from regulators. Disappointing earnings report from retailers and a 3-day rally in stocks exhausted appetite for stocks in trading. Dollar continued to gain ground against the euro and crude oil declined.

China Stocks Rebound Near Bear Levels

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

Stocks in Shanghai and Hong Kong gained as investors returned. Domestic earnings, calmer European markets and positive economic data in the U.S. encouraged investors. PetroChina plans to issue 40 billion yuan bonds. Tencent revenues grow 69% in first quarter. Gemdale said April sales rise 22%.

SAP Pins Hopes on Sybase Purchase

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

German software maker SAP AG agreed to acquire Dublin, California-based software company Sybase Inc for $5.8 billion in an all cash deal to improve sagging sales by using Sybase

Euro Falls; Spain, Portugal Austerity Steps

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

European indices closed higher on strong earnings and on the easing of fears about the EU debt crisis. SAP agrees to acquire Sybase for $5.8 billion. Credit Agricole SA first-quarter profit rises. Telefonica first quarter profit increases 2%. Cap Gemini SA proposes share repurchase program.

U.K. Stocks Gain, Sainsbury Net Rises

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

U.K. stocks gain on commodity prices and positive earnings momentum. Coalition government takes first step to curb budget deficit. UK trade deficit rises in March and mortgage repossessions falls in first quarter. Tullett Prebon said takeover talks terminated.

Sybase, Whole Foods Rise; Cisco Falls

Mayank Mehta
13 May, 2010
New York City

Cisco Systems, Inc led the decliners in the S&P 500 index with a loss of 3.4% after it reported quarterly profit increase of 63%. SAP AG agrees to acquire Sybase for $5.8 billion. Whole Foods quarterly sales increased 13% and net surged 147%. Urban Outfitters quarterly net rose 72%.

Australia Job Growth Accelerates

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

The benchmark index in Australia gained after the release jobs report. Job growth accelerates as Australia adds 33,700 jobs in April. Optus annual profit soars 16% to A$676 million.

Yen Slips, Current Account Surplus Widens

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

Nikkei 225 Stock Average rebounded on the weakening yen and improving profit outlook for exporters. Current account surplus surged 65% in March and bankruptcies declined 13% in April. Bank of Japan begins dollar lending operation.

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