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China Stocks Weak; Property Worries

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

Market indexes in Shanghai and Hong Kong declined after investors worried that an increase in bank reserve ratios may not be enough to stem real estate price increase. GD Midea to buy 32.5% stake in Egypt based MIRACO for $57.5 million. Petrochina to increase investment in Indonesia for energy.

Sensex Declines; Strong Demand in 3G Auction

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

Stocks in Mumbai traded lower after a rail strike in Mumbai affected trading. 3G wireless license auction is expected to fetch as much as $10 billion ahead of the government target of $8 billion.

World Markets Fear Greece Led Contagion

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

U.S. stocks declined sharply on the worries that the recent bailout may not prevent financial crisis from spreading. Euro declined to $1.31 and Greek bonds fell. U.S. auto sales increased in April. UBS posted higher than expected earnings.

MasterCard, Cognizant Rise; Radian, CVS Fall

Mayank Mehta
04 May, 2010
New York City

Advanced Micro Devices, Inc led the decliners in the S&P 500 index with a loss of 6%. Principal Financial quarterly earnings surged 69% and Marathon Oil net income gained 62%. MasterCard quarterly net surged 24%. Pfizer net income declined 26%. Emerson second quarter profit rises 8%.

Newcrest Mining Offers A$9.5 B for Lihir

Chandrasekhar Atreya
04 May, 2010
New York City

Newcrest Mining Limited revised its offer for Papua New Guinea based Lihir Gold Ltd that values the miner at A$9.5 billion. The final offer is 41% premium from the date of first offer price. The merged company will be the fifth largest gold miner in the world.

Rate Hike in Australia; Newcrest, Lihir Merger

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

Reserve Bank of Australia increased key lending rate by 25 basis points to 4.5%. Newcrest Mining revised its offer by 6.4% from the previous offer and 41% higher than the closing price at the time of first offer.

U.S. Stocks Ride Economic Optimism; Apple Up

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

Stocks in New York traded higher after economic data suggested improving economic health and growing consumer income and spending. Apple Inc said it sold one millionth iPad by the end of April. Dollar Thrifty may get a better offer from Avis Budget Group.

China Lifts Bank Reserves; Swire Properties IPO

Mayank Mehta
03 May, 2010
New York City

Stocks in Hong Kong closed lower after commodities declined and China raised bank reserve ratios. ICBC plans to start fund raising of as much as $12 billion next week. Swire Properties in a Hong Kong listing plans to raise $2.7 billion.

Euro, Indexes Fall; Norsk Hydro, Vale Deal

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

Euro-area ministers agreed to a

Dollar Thrifty, Administaff Rise; BP, BHP Fall

Mayank Mehta
03 May, 2010
New York City

SanDisk Corporation led gainers in the S&P 500 index with a rise of 4.9%. Administaff, Inc first quarter sales fall 1% but still reported higher than expected profit. Dollar Thrifty soars after Avis said it is prepared to offer more than Hertz

Dollar Thrifty Surges on Avis Letter

Arthi Gupta
03 May, 2010
New York City

Avis Budget Group in a letter to Dollar Thrifty Automotive Group said it is prepared to make a substantially higher offer. Dollar Thrifty stock soared 14%.

United, Continental Merger; Capacity Cuts

Chandrasekhar Atreya
03 May, 2010
New York City

UAL Corp, the parent of United Air and Continental agreed to merge that will create the largest domestic carrier with market share of 21%. The deal is expected to cut capacity on many routes that will increase fares. The deal faces many hurdles but is expected to be complete by the end of the year.

Greece Faces Uphill Task;

Arthi Gupta
03 May, 2010
New York City

Greek government agreed to deeper cuts in spending and raise taxes in exchange for a bailout package for the next three years of as much as

Stocks Up on Income; UAL, Continental Merger

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

U.S. stocks are trading higher on Greece bailout package and merger of two airlines but the euro fell. U.S. personal income for March rises at the fastest pace in six months. UAL agrees to acquire Continental Airlines for $3.2 billion. Loews quarterly revenue rises 23%.

Sensex in India Falls; Rupee Strong

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

Stocks in Mumbai trade lower and India

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