123jump.com Staff
20 Jan, 2009
New York City
Tokyo stocks dropped more than 2% on the latst read on the service industry index showed a decline in November. The weakness in the service sector is the latest confirmation of the declining economy in Japan. Tokyo appoints grandson of the founder Toyoda.
123jump.com Staff
20 Jan, 2009
New York City
Hong Kong stocks plunged nearly 3% on the global markets weakness. The plunge in Royal Bank of Scotland renewed fears that HSBC, one of the largest lender in the region may suffer more loan losses. HSBC dropped for the seventh day in a row. HKMA and PBoC entered in a currency swap to add liquidity.
123jump.com Staff
19 Jan, 2009
New York City
The markets in the U.S. were closed. Royal Bank of Scotland plunged after the UK Treasury converted its preferred stocks to common stocks. Japan property sales plunged. Toyota cut its production on weak demands in the U.S. and Japan.
123jump.com Staff
19 Jan, 2009
New York City
The UK government was forced to convert its holding in Royal Bank of Scotland to increase its capital ratio that will facilitate new bank lending. The UK Treasury offered addtional access to lending and provided a raft of several measures that include det extensions and asset guarantees.
123jump.com Staff
19 Jan, 2009
New York City
Australian stocks rebounded after precious and base metals rose on the specualtion that the recent stimulus in Europe and the U.S. will drive the demand higher. Separately, a private economic forecast suggested a sharp slide into a recession. Western Australia property prices drop.
123jump.com Staff
19 Jan, 2009
New York City
Toyota plans to cut in half its production in Japan and in the U.S. as the global vehicle demand estimates weaken. Only few weeks ago General Motors lowered its estimate of global and domestic U.S. demand. Property transactions declined 50% in the year and 80% in December.
123jump.com Staff
19 Jan, 2009
New York City
Hong and China are facing sharply lower economic growths in the current year and economy to be at its weakest in the first half of this year. China is expected to grow at 8.3% in the current fiscal year but exports are likely to fall 6.5% and imports are expected to decline 4.6%.
123jump.com Staff
19 Jan, 2009
New York City
India is expected to unveil another stimulus package at the end of the month to increase public infrastructure spending. Foreign direct investment in the current year is expected to slow but will meet the target of $35 billion according to the commerce minister.
123jump.com Staff
18 Jan, 2009
New York City
The steelmaker reported net loss of $160 million or $2.02 a share on sales rise of 4% from a year ago to $745.4 million. The company plans to close cold-rolled steel plant in Kentucky. Total debt at the end of the quarter was $371 million, down $74 million from the previous quarter.
123jump.com Staff
18 Jan, 2009
New York City
The home builder reported quarterly loss of $811 million or $5.12 a share and sales plunged 41% to $1.28 billion. The number of joint ventures declined to 116 from 148 in the previous quarter. At the end of the quarter the cash on balance sheet was $1 billion and debt to capitalization ratio was 49%.
123jump.com Staff
17 Jan, 2009
New York City
The enterprise software company reported a decline in profit due to the strengthening dollar. Quarterly revenue rose 6% to $5.61 billion and net income declined to $1.29 billion or $0.25 per share, compared to $1.30 billion or $0.25 per share in the year-ago quarter.
123jump.com Staff
17 Jan, 2009
New York City
The payroll and personnel service provider reported second quarter revenue of $542 million and net profit of $140 million or 39 cents per share and expects fiscal 2009 total service revenue growth to be between 5% and 7%.
123jump.com Staff
17 Jan, 2009
New York City
The IT consultant revenues rose 6% to $6 billion including 3% negative impact of foreign exchange. Net income rose 26% to $479.87 million and earnings per share increased to $0.74 from $0.60 a share in the comparable period. New bookings were $5.80 billion.
123jump.com Staff
16 Jan, 2009
New York City
The U.S. stocks edge higher after the Bank of America was offered emergency loan of $20 billion. The troubled bank and Citigroup declared larger than expected losses. UK is considering to offering more loan guarantees to banks, mortgage and corporate loans. Companies in Asia trim production.
123jump.com Staff
16 Jan, 2009
New York City
UK plans to provide additional guarantee of
