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European Austerity Measures; Nervous Markets

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

The European indices fell to an eight-month low as euro-zone financial crisis slowly migrates to fiscal crisis. Spain approved austerity measures and German lawmakers passed their share of $1 trillion of bailout package. Statoil agrees to sell its stake in a Brazil based field to Sinochem.

Ann Taylor, Marvell Gain; Brocade Falls

Mayank Mehta
21 May, 2010
New York City

Brocade Communications Systems, Inc. led the decliners in the S&P 500 index with a loss of 12.9%. Aeropostale''s first-quarter profit jumps 43%. Brocade swings to a profit as sales dip. Salesforce.com net slips though sales rise 24%.

China Stocks Rebound, Weekly Drop of 4%

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

Finance Ministry in China completed the sale of 28 billion yuan bonds maturing in 2060 at an average of 4.03%. For the week indexes in Shanghai declined 4.2%. PetroChina Company Ltd halts CNPC assets purchase plan. Huadian Power plans to acquire power plant for 900 million yuan.

Australian Markets Track Global Losses

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

Stocks fell in Australia as investors fear widening euro-zone crisis may slowdown global economic recovery. The Australian dollar rebounded by 1.2%. Sigma Pharmaceuticals receives a takeover offer from an unidentified bidder. Fire at the Hobart smelting facility curtails 20% zinc production.

Largest Weekly Drop in Tokyo Stocks

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

Stocks in Japan declined the most in the week in a year. On Friday, Nikkei dropped as much as 3.9% before closing down 2.5% after falling nearly to its lowest in the year. Bank of Japan offers one-year loans to counter deflation. Toyota Motors agreed to acquire $50 million stake in Tesla motors.

Hinduja Group Acquires KBC

Chandrasekhar Atreya
21 May, 2010
New York City

Hinduja group of India has agreed to acquire the Luxembourg-based KBL EuropeanPrivate Bankers for 1.35 billion euros in an all cash deal.

Sensex Falls;Abbott, Piramal in $2.2 B Deal

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

Stocks in Mumbai trade lower as global markets trade near their six-month lows. Rupee trades crosses 47 to a dollar. Piramal Healthcare retracts from record high after selling generic business to Abbott Labs for $2.2 billion and earn-out of as much as $1.6 billion in the next four years.

U.S., Global Markets in Correction Phase

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

U.S. and global markets continue to trend lower. The U.S. Senate passed the financial overhaul bill and German lawmakers approved their contribution to the euro-zone $1 trillion rescue package. Spanish Government approves

Symantec to Acquire VeriSign's Security Arm

Chandrasekhar Atreya
20 May, 2010
New York City

Mountain View, California-based Symantec Corp is to acquire the security business of VeriSign in a definitive agreement for $1.28 billion. The transaction is expected to get regulatory approvals in 60 to 90 days.

Qatar Holdings Acquires Department Store Harrods

Chandrasekhar Atreya
11 May, 2010
New York City

Qatar Holdings has agreed to buy the world famous London Department stores Harrods from Al-Fayed in a deal of 1.5 billion pounds, including Harrods Estate and a charter aircraft service.

U.S., World Markets Selloff; Euro Fiscal Crisis

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

U.S. stocks plunged as investors worry that financial crisis in Europe is developing into a fiscal crisis in the region. U.S. stocks dropped for the sixth day in a row on a weakness in industrial stocks with international sales. Tech heavy Nasdaq dropped nearly 4%.

Advance Auto Rises; MBIA, Toro Drop

Mayank Mehta
20 May, 2010
New York City

GameStop Corp led gainers in the S&P 500 index with a rise of 6.2%. Dr Pepper Snapple Group raises quarterly dividend 67% and Tiffany by 25%. MF Global net loss narrows and plans as much as 15% staff. GameStop quarterly profit rose to $75.2 million. Dollar Tree net income increases 5%.

Declines in European Markets Accelerate

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

European markets accelerated declines in the late afternoon as the tensions rise in the region and the euro traded weak. Markets in the region and UK dropped between 2.2% and 3%. Valeo SA buys 100% of Electrical Systems venture in India. Air France-KLM Group net loss surged to

UK Index Drops 2.2%; Retail Sales Rise

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

UK indexes dropped more than 2% after European markets declined between 2% and 3%. The pound declines amid U.K. retail trade report. National Grid rights issue is estimated to raise

Sixth Daily Decline in U.S., World Stocks

Mayank Mehta, Arthi Gupta and Darlington Musarurwa
20 May, 2010
New York City

U.S. stock and world markets declined for the sixth day in a row as the euro zone worries stay in the focus of investors. Initial jobless claims increased 25,000. Accretive Health prices its offering below the initial range. Symantec acquires the security business of VeriSign for $1.28 billion.

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