Mayank Mehta
05 Mar, 2010
New York City
Prime Minister Manmohan Singh said that the current financial year economic growth will exceed 7.2% and the next year growth is likely to be near 8%. Sulzer India plans to delist the company. Spice Mobiles Ltd plans to raise $160 million. Hero Honda plans to not increase prices.
123jump.com Staff
05 Mar, 2010
New York City
Revenues rose 18.6% to $1.34 billion & net income was $59.2 million or 11 cents a share. Total gross margin improved 220 basis points to 53.1%. Product gross margin in Q4 increased 240 basis points to 50.9% versus 48.5% in Q3. Cash flow from operations was record $332 million or 25% of net revenue.
123jump.com Staff
04 Mar, 2010
New York City
Banks in Hong Kong and Shanghai trading declined after Chinese loan growth rate was estimated at 22% in the current year, lower from 40% increase in 2008. Metals processors closed lower on a weakness in copper prices. Li & Fung acquires UK based Visage Group.
Darlington Musarurwa
04 Mar, 2010
New York City
Australian trade deficit eases to A$1.1 billion in January. Linc is reviewing offers for three properties that it estimates are worth $1.5 billion. Telstra Corp hired bankers for its bond offering in Europe. Australian building industry expands at a slower pace in February.
Darlington Musarurwa
04 Mar, 2010
New York City
The benchmark index in Tokyo closed lower 1.1% on the worries that lower economic growth in China will slow exports. Business investments in Japan declined for the eleventh quarter in a row at the end of last year. Higher yen dragged exporters and automakers lower.
Mayank Mehta
04 Mar, 2010
New York City
European markets closed lower after a three day rally and the ECB left its key rate unchanged at 1%. Greece launched its
123jump.com Staff
04 Mar, 2010
New York City
The Bank of England left its key lending rate on hold at 0.5% and kept its plan to purchase
123jump.com Staff
04 Mar, 2010
New York City
U.S. businesses reported 6.9% improvement in productivity in the fourth quarter of 2009 and 5.9% in the year. The surge in productivity was driven by 4.7% decline labor cost in the year as employers cut jobs. Weekly jobless claims declined and the dollar edged higher against the euro.
Mayank Mehta
04 Mar, 2010
New York City
Foot Locker swings to profit. PetSmart profit dips 4% and forecast better than expected outlook. Take-Two cuts losses and revenue jumps. Limited Brands February same-store sales rise 10%. Urban Outfitters profit climbs 92%. Ciena plunges after quarterly loss nearly doubles.
Mayank Mehta
04 Mar, 2010
New York City
Food prices and wholesale prices remained at elevated levels according to the latest data from the government. Truck transportation association said members plan to increase freight rate by 15% after fuel taxes were lifted. Shipping companies closed higher after container freight rates surge 40%.
123jump.com Staff
04 Mar, 2010
New York City
Weekly jobless claims declined 29,000 at the end of last week. Federal Reserve in its Beige report noted improving economic conditions but commercial construction and demands for loans remain soft. Greece launched 5 billion euros bond offering as workers demonstrate.
123jump.com Staff
04 Mar, 2010
New York City
McDermott fourth quarter net revenue fell 11.8% to $1.46 billion while net income grew 130% to $98.7 million despite headwinds due to spin off, R&D, pension and other expenses. Earnings per share were $0.42 as compared to $0.19 per share in the 2008 fourth quarter.
123jump.com Staff
04 Mar, 2010
New York City
Revenues fell 23% to $583.9 million & net income fell 49% to $24.4 million or 28 cents a share. Produced tons sold totaled 7.8 million tons compared to 10.2 million in the last year. Average produced coal sales realization of $64.13 per ton was $1.44 per ton higher than in the 4th quarter of 2008.
123jump.com Staff
03 Mar, 2010
New York City
Property developers in Hong Kong fell as regulators permit banks to charge more for mortgage loans and in China declined as delegates urge for tighter curbs in property markets. Chinese delegates at a communist party political convention are also expected to approve incentives for renewable energy.
123jump.com Staff
03 Mar, 2010
New York City
Federal Reserve in its latest survey noted that the U.S. economy improved in most areas but the labor market remained soft and commercial real estate loans and loan demands were weak. The euro gained as optimism builds ahead of a meeting between the political leaders of Greece and German.
