123jump.com Staff
22 Apr, 2009
New York City
A sharp fall in world trade has led China Cosco to delay three of its nine container liners orders and may delay unknown number of commodity vessels. China Shipping Container Lines Co also estimated loss in the first quarter. Jiangxi Copper first quarter net income dropped 89% from a year ago.
123jump.com Staff
22 Apr, 2009
New York City
UK in Budget 2009 proposed to increase tax for the upper income earners, sharply increase the borrowings and increase public spending to support housing markets and banks. The pound, stocks and bonds fell after the government plans to sell
Mayank Mehta
22 Apr, 2009
New York City
KeyCorp led the decliners in the S&P 500 index with a loss of 8.0%. AT&T Inc first quarter profit falls. Capital One Financial Corporation first quarter sales fall. SanDisk Corporation shares jump on sales rebound. Las Vegas Sands rises on amended credit terms.
123jump.com Staff
22 Apr, 2009
New York City
U.S. stocks edged higher after a flood of earnings news met most investors expectations of lower earnings. Memory chips makers gained in the morning trading on probable price increase from the recent lows. Morgan Stanley declined after it reported wider than expected losses.
123jump.com Staff
22 Apr, 2009
New York City
Japan registered its first annual trade deficit in thirty years. Exports and imports declined in March but at a slower pace than in February. Weak exports from Japan to China and U.S. continue to affect global trade. Japan may bailout Elpida Memory and Pioneer using public funds.
123jump.com Staff
22 Apr, 2009
New York City
BHP reported that it is selling 28% of its iron ore output in the spot market as more steelmakers in China and Japan defer the demand. The spot prices are at least 33% lower than the contract prices. Australian inflation dipped at the end of the first quarter dimming the prospect of rate cut.
123jump.com Staff
21 Apr, 2009
New York City
BlackBerry maker fourth quarter revenue jumped 84% to $3.46 billion helped by strong sales of smartphones and net income rose 25.6% to $518.3 million. Earnings per share were 90 cents compared to 72 cents in the year ago quarter.
123jump.com Staff
21 Apr, 2009
New York City
U.S. Treasury Geithner comments on the health of banks suggested that banks have adequate capital for now. However, he also suggested that additional capital may be needed to restore confidence in the financial system which market ignored. India cuts rates and UK inflation falls.
123jump.com Staff
21 Apr, 2009
New York City
UK consumer prices in March rise at a slower pace at 2.9% and retail price index declined in the month for the first time in five decades. The rising unemployment and fall in energy prices led to the decline in price increase growth rate. Tesco reported 15% increase in sales.
123jump.com Staff
21 Apr, 2009
New York City
China is expected to offer large stimulus package in the second quarter. Domestic earnings in the property and logistics sector drove market indexes lower. Higher bad debt provisions at Bank of America in the U.S. dragged domestic bank stocks lower.
Mayank Mehta
21 Apr, 2009
New York City
Tenet Healthcare Corporation led gainers in the S&P 500 index with a rise of 25.3%. Brown & Brown, Inc first quarter misses street views. The Western Union Company first quarter profit edges up. Merck & Company net falls 57% but net at Schering Plough surges. Coca Cola net falls 10%.
123jump.com Staff
21 Apr, 2009
New York City
In a surprise move, the RBI lowered its short term lending rate and also trimmed the growth outlook for fiscal year ending in March 2009 and 2010. Rupee edged lower against dollar and euro on weaker economic growth outlook and stocks declined.
123jump.com Staff
21 Apr, 2009
New York City
Stocks in Japan fell after hopes of earnings recoveries were dashed, a fall in commodities prices and a decline in auto stocks. Toyota led the decline in auto and parts makers stocks after production is likely to fall to 31-year low. JAL is likely to seek low interest loan of $2 billion.
123jump.com Staff
21 Apr, 2009
New York City
Stocks in Australia declined after the Reserve Bank governor Stevens indicated that the country is in a recession but is prepared to weather the downturn better than most other countries. The direct admission of the economic health put investors on guard. A rise in gold prices lifted gold miners.
123jump.com Staff
20 Apr, 2009
New York City
More than $17 billion of deals failed to overcome the worries from rising bad debt charges at Bank of America. Oracle and Sun Microsystems in $7.4 billion deal, PepsiCo proposed to acquire the remaining stake in two bottlers for $6 billion and GlaxoSmithKline agreed to pay $3.6 billion for Stiefel.
