Darlington Musarurwa
14 Jan, 2009
New York City
In weak trading, stocks in Tokyo edged higher. Toshiba and Fujitsu are exploring a merger of hard disk business. Of the Nikkei 225 stocks, 136 increased, 73 declined, and 16 were unchanged. Casio Computer led advancers in the index shares with a rise of 8.2% followed by NSK Insulators gaining 6.3%.
123jump.com Staff
14 Jan, 2009
New York City
Australian home loans rise 1.3% in November. Wesfarmers cuts interim profit forecast to A$850 million to A$880 million on increasing derivative loss provisions. Rio Tinto will slow Argyle underground project. HFA Holdings led decliners in the ASX 200 index with a loss of 11%.
123jump.com Staff
13 Jan, 2009
New York City
Fed Chairman Bernanke stressed that more capital may be needs to support financial system and a need for fiscal programs. UK trade deficit grows. Stocks in Japan plunged 4.5%. Exports in China declined on slowing global trade.
123jump.com Staff
13 Jan, 2009
New York City
Indian government orders criminal probe in Satyam scandal. Wipro was banned for from the World Bank. The largest real estate developer in India, DLF raised 1,700 crore rupees in the debt market lifting other real estate stocks. Infosys surged on better than expected earnings.
Darlington Musarurwa
13 Jan, 2009
New York City
U.K. trade deficit widens to
123jump.com Staff
13 Jan, 2009
New York City
Fed Chairman Bernanke highlighted that recent easing in the monetary policy may not be enough and fiscal measures may be needed to revive the economy. For the first time, chairman acknowledged that the weakness in financial monitoring by regulators and at rating agencies contributed to the crisis.
123jump.com Staff
13 Jan, 2009
New York City
Exports from China declined 2.8% to $111.2 billion and imports declined 21.3% to $72.2 billion. For the year 2008, total international trade rose 17.8% to $2.56 billion, but the exports and imports are expected to slow sharply in the first half of the year.
123jump.com Staff
13 Jan, 2009
New York City
Stocks in Japan plunged 4.5% after a day after holiday. Rising yen, falling corporate profits and declining current account surplus added to investors anxieties. Sony and Toshiba expect operating loss for the current fiscal year. Current account surplus plunged 66% in November.
123jump.com Staff
13 Jan, 2009
New York City
Stocks in Australia continued their slides as metals and oil prices decline in the region. Sydney benchmark index declined nearly 1% and resource and financial stocks led the decliners. Rio Tinto delayed the second project mining project as the worldwide slowdown intensifies.
123jump.com Staff
12 Jan, 2009
New York City
U.S. stocks declined on the earnings worries and weakening economic sentiment. Alcoa Inc after the close, reported its first quarterly loss. Crude oil plunged 8% and metals prices fell sharply. Gold, silver and copper declined. Russia devalued its currency and may be forced to do more.
123jump.com Staff
12 Jan, 2009
New York City
The UK stocks closed lower as prices of metals and crude oil declined. Financial companies in an industry survey reported a sharp decline in income, profitability. Businesses and consumers are still struggling to get loans from lenders. Scottish Court approved Lloyds TSB and HBOS merger.
123jump.com Staff
12 Jan, 2009
New York City
Stocks in Mumbai trading fell on the worries that more companies are behind in keeping high corporate governance standards. The BSE reported that nearly 1,200 companies may be in violation in filing such reports. In another blow, Wipro was barred by the World Bank in doing business with it.
123jump.com Staff
12 Jan, 2009
New York City
Russia, battling a sharp drop in crude oil prices, lack of foreign investors confidence and worsening capital flight devalued the currency 2% over the weekend. The ruble is likely to drop as much as 15% in the next six months if oil stays below $50 a barrel.
123jump.com Staff
12 Jan, 2009
New York City
Crude oil futures for the immediate month delivery fell after Saudi Arabia lowered its production target below OPEC-agreed target by 300,000 barrels a day. Oil traded as low as $38.20 a barrel in the morning trading but March and April months futures are trading at 15% and 20% premia.
123jump.com Staff
12 Jan, 2009
New York City
Citigroup is at advanced state of discussion to sell a controlling stake in Smith Barney to Morgan Stanley. The newly merged brokerage operation will be jointly owned by two battered investment banks. The merged operation is expected to be valued at $20 billion.
