123jump.com Staff
19 Nov, 2008
New York City
U.S. home starts, completions and permits in October fell as tight credit and weak demand kept buyers away. Building permits dropped 40%, home starts plunged 38% and completions dropped 26% from a year ago. Single family homes starts declined 3.3% from September to 531,000 annual rate.
123jump.com Staff
19 Nov, 2008
New York City
Wal-Mart Stores, the largest retailer in the world reported net sales in the third quarter increased 7.5% to $97.6 billion and diluted earnings per share increased 10% to 77 cents The Company expects diluted earnings per share in the fourth quarter between $1.03 and $1.07.
123jump.com Staff
19 Nov, 2008
New York City
European markets fell across the region on job cuts, bank profit worries and weak earnings environment. Market indexes dropped more than 1% in the early afternoon after ECB President Jean-Claude Trichet said that global financial system is under severe stress in 65 years.
123jump.com Staff
19 Nov, 2008
New York City
Stocks in Australia edged lower as global economic slowdown worries continue to haunt investors. Babcock & Brown plans to cut 60% staff to lower operating costs. Leadning economic indicators index declined to annualized increase of 1.1%. AWB Ltd annual revenue rose 51% and net up surged 137%.
123jump.com Staff
18 Nov, 2008
New York City
Solar panel companies declined after negative comments from JP Morgan. Energy stocks rallied and automakers struggle as lawmakers question executive compensation at big three auto companies. Alpha Natural plunges after takeover bid fails. Medtronic and Saks drops on earning. Corning lowers outlook.
123jump.com Staff
18 Nov, 2008
New York City
Hewlett Packard earnings lifted tech stocks and energy stocks rally in the afternoon lifted U.S. indexes. Asian markets fell sharply as investors worry that recession in the U.S. and Europe will be longer and deeper. Stocks in Japan fell 2.3%, in Shanghai dropped 7.4%, in Mumbai and Sydeny fell 4%.
123jump.com Staff
18 Nov, 2008
New York City
Stocks in Australia dropped on the weak global financial markets and declining economic growths in EU, Japan, China and the U.S. Citi Australia will cut its staff from the current 2,500. Australian stocks fall on recession worries. Macquarie Group profit in the first half dropped 43%.
123jump.com Staff
18 Nov, 2008
New York City
Stocks in Hong Kong dropped 4.5% and in Shanghai plunged 7.4%. Investors are increasingly factoring longer and deeper economic recession in the Western economies and lower exports from China. Broker comments forced Hong Kong Exchange down 8% and HSBC lower by 4%. Automakers gained on speculation.
123jump.com Staff
18 Nov, 2008
New York City
Stocks in India dropped on global economic worries, falling exports, weak local demand and recent regional elections results. Rupee flirted near 50 to a dollar. Finance minister Chidambaram estimated that the economy will rebound in the next fiscal year to 9% on the rise in domestic demand.
123jump.com Staff
18 Nov, 2008
New York City
UK inflation rate fell to 4.5% in October after rising to 5.2% in September. The drops in fuel and other consumer goods prices helped the index to drop. The inflation is likely to fall further in the rest of the year. Wolseley, the materials distributor plans to eliminate 2,000 staff positions.
123jump.com Staff
18 Nov, 2008
New York City
General Motors, the struggling automaker reported third quaarter loss of $2.5 billion or $4.45 a share. The company plans to cut capital spending, lower production and reduce staff to improve the liquidity by $15 billion. GM is seeking federal help that can only help the company in the short term.
123jump.com Staff
18 Nov, 2008
New York City
Stocks in Japan dropped after property developers cut supply to lower inventories of unsold apartment units. Nearly 450 developers have been forced out in the last one year on tighter lending and weak demand. Mitsubishi UFJ interim profit plunges 64%. Sony Financial Holdings net drops 27%.
123jump.com Staff
17 Nov, 2008
New York City
Financial stocks led the decliners in the U.S. trading. Hartford Financial plunged after negative views from Barclays. Prudential and MetLife declined as well. Las Vegas Sands completed $2.1 billion in public offering. Walt Disney declined on broker commments. Net earnings at Target and Lowes fell.
123jump.com Staff
17 Nov, 2008
New York City
The Global funds transfer and payment systems company reported net third quarter revenue of $305 million and net loss of $38.6 million or 80 cents a compared to $341 million in revenues and $34 million in net income or 42 cents a share profit. The fund transfer fee rose 18% in the quarter.
123jump.com Staff
17 Nov, 2008
New York City
U.S. stocks closed down 2.6%. Financial companies lead the decliners on the worries that more companies will need to raise capital. Citigroup lowered its head count by 53,000 and Goldman Sachs executives forego bonuses. Japan reported second quarterly economic growth decline. UK economy to shrink.
