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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.

Sensex in India Declines; Yes Bank Falls

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

Stocks in Mumbai traded lower on the worries related to the euro-zone. Rabobank Nederland plans to sell stake in Yes Bank Ltd. Reliance, MTNL are in 3G franchise talks. Cox and Kings India is looking to raise $430 million. Orbit Corp issues a 1-to-1 bonus.

China Stocks Volatile; ICBC Loans Up

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

Shanghai, the city targeted by China to be becoming its global financial center by 2020, is preparing to allow foreign companies to list their shares and sell bonds in the city

PetSmart, Lockheed Rise; Transocean Fell

Mayank Mehta
22 Jun, 2010
New York City

American Italian Pasta Company led gainers in the S&P 500 index with a rise of 6.7%. Lockheed wins again $5 billion U.S. contract. Jefferies profit up 37%. Commercial Metals narrows quarterly loss. Toyota suffers another supplier labor strike.

Spanish Banks Ratings Kept; European Stocks Down

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

European markets fell after Fitch downgrades BNP Paribas

U.S. Home Sales Fall; Walgreen Net Falls

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

U.S. stocks trade lower after May home sales declined. Existing home sales in the month fell 2.2% to 5.66 million and increased 19.2% from a year ago month. Fitch downgrades its debt rating on BNP Paribas SA. Walgreen third quarter profit declines.

U.S. Stocks Erase Gains; World Markets Up

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

U.S. stocks closed lower after rallying on the back of global markets. China permitted wider trading band for the yuan after pegging the currency to the dollar for nearly two years. Stronger yuan raised expectations of higher exports to China but also raised fears that retailers will pay more.

Valeant and Biovail to Merge

Arthi Gupta
21 Jun, 2010
New York City

Valeant and Biovail Corp. have unanimously approved a merger agreement under which the companies would combine to generate enhanced value for stockholders.

Corn Products to Buy National Starch

Darlington Musarurwa
21 Jun, 2010
New York City

Corn Products agrees to acquire National Starch from AkzoNobel for $1.3 billion in cash. The transaction is projected to generate cost synergies of at least $50 million.

Commodities, Stocks Rise in UK

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

The UK indexes soar after China

Global Payments Falls; Ford, MetLife Gain

Mayank Mehta
21 Jun, 2010
New York City

Global Payments Inc. led the decliners in the S&P 500 index with a loss of 6.7%. Ralcorp Holdings to acquire American Italian Pasta Company. Adidas sees soccer sales of at least $1.9 billion. BP Gulf spill handoff plan on track.

European Markets 9-Day Rally Continues

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

European markets extend their gains for a ninth consecutive session after China decides to lift the peg of its currency against the dollar. Portugal producer prices rises 0.4% in May. Hungary Central Bank maintains key policy rate unchanged at 5.25%.

Australian, China Trade Deals; Telstra Settles

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

Stocks gained in Australia after China eased it yuan peg. Telstra surrenders copper fixed lines to government in A$11 billion deal. Government signs ten trade pacts with China. Sigma Pharmaceuticals Ltd and shareholders are likely to settle class action lawsuits.

Stocks in Japan Rise; Yuan Peg Ends

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

Stocks in Japan end at one-month high after China permitted the float of the yuan. Honda Motor Co and Toyota Motor Corp hiked wages to end strikes in parts factories in China. Premier Naoto Kan is scheduled to unveil his plan to bring down the debt.

Yuan-Dollar Peg Ends; 9-Day Rally in Stocks

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

China stocks gained the most in a fortnight, led by banks, airlines, and property firms after the government permitted a slow rise in the yuan.

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