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U.S. Jobless Claims and Durable Orders Fall

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

U.S. stocks oscillate after weekly jobless claims fall by 19,000 and durable goods orders decline 1.1% in May. Total SA and Amyris partner to develop biomass-based fuels and chemicals. Pioneer signs $1.15 billion joint venture deal with India based Reliance Industries.

Fed Left Rates On Hold; Bonds Rise

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

U.S. stocks traded sideways after existing home sales indicated a fragile state of housing market and the Fed left its key lending rate unchanged. GM is preparing for a public offering that may lower U.S. stake by 20%. Australian Prime Minister Kevin Rudd

Nikkei Index in Tokyo Drops 1.9%

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

Stocks declined in Japan after a report showed sale of existing homes dropped in May. Toyota and Honda halt production after strike extends to other parts facilities in China. Google takes over as favorite job destination for Japanese job seekers. Toyota stays put on price cut.

Australia

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

Prime Minister Kevin Rudd defended his super profit tax plan. Citadel plans to increase its stake in Saudi copper project to 70% from the current 50%. Woodside plans to approach Fair Work for withdrawal of strike by crane and forklift operators at its Pluto project.

UK Mortgage Lending Rises; Stocks Weak

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

The UK indexes fall for the second consecutive day after weaker-than-expected U.S. new home sales data. Pound trades higher after the release of Bank of England minutes but the BoE policy makers differ over interest rate. UK banks approve more mortgages for home purchase in May.

BASF Acquires Cognis in $3.8 Billion Deal

Arthi Gupta
23 Jun, 2010
New York City

BASF announces an agreement with Cognis Holding Luxembourg S.

China Agriculture IPO; More Strikes in China

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

China stocks declined led by energy and material stocks while stocks in Hong Kong gained marginally. China will cancel export tax rebates in more than 400 items from July 15. Bank of Communications stocks rise after 17 billion yuan rights issue.

India Prepares Stake Sales of $10 Billion

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

Stocks in Mumbai traded marginally higher. India starts a legal process for advice on stake sale totaling $10 billion. Airlines rise on the speculation that foreign airlines maybe permitted to acquire stakes.

Teekay Declines; Red Hat, Jabil Gain

Mayank Mehta
23 Jun, 2010
New York City

CarMax, Inc. led gainers in the S&P 500 index with a rise of 7.3%. Red Hat said its first-quarter net income rose 30%. Adobe reported second quarter net increased 18%. CarMax said its quarterly net more than tripled. Rite Aid narrows quarterly loss.

European Markets Slide

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

European stocks stumble after new home sales in the U.S. slumped 33% in May. Euro-zone composite PMI falls to three-month low in June. BASF agrees to buy Cognis in $3.8 billion deal.

U.S. Stocks Decline on Weak Home Sales

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

U.S. stocks rise on optimism that the Federal Reserve will hold a key interest rate at a record low. White House said appeals block on drilling ban. AT&T acquires rural wireless assets from Verizon Wireless. Adobe Systems Inc. said second quarter net rises 18%.

U.S. Stocks Decline; Judge Lifts Drilling Ban

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

U.S. stocks traded sideways after existing home sales indicated a fragile state of housing market. Oil drilling rigs providers traded volatile after a judge lifted a ban on drilling in the Gulf of Mexico. Obama administration said it will appeal the decision.

UK Budget to Trim Expenses; VAT to Rise

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

The UK indexes traded lower after the interim budget that proposed higher VAT and eliminated nearly one million tax payers with low income and lowered the corporate tax to 24% . The government also cuts growth outlook and public sector pay freeze for two years.

Australian Exports to Rise; Stocks Decline 1%

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

According to the revised estimates, exports are likely to increase 23% to A$202.5 billion in the 12-month period ending June 2011, according to the Australian Bureau of Agricultural and Resource Economics today.

Japan Caps Spending; Nikkei Declines 1%

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

Stocks in Japan decline on the euro-zone worries. Japan releases its fiscal 10-year plan to reduce debt, fight deflation and cap government spending. Japanese parts plants in China resort to mechanization to fight labor problems.

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