123jump.com Staff
24 Dec, 2008
New York City
U.S. stocks edged higher after crude oil plunged. Japan Cabinet approves largest spending budget. The pound falls against euro and the dollar. China international trade expected to grow 18% in the year. GMAC, the lending arm of General Motors was approved as a bank after the close.
123jump.com Staff
24 Dec, 2008
New York City
The British pound fell against the euro and the dollar after private survey indicated home prices in 2009 may drop as much as 15%. AstraZeneca declined after the U.S. requested more information on its depression treatment drug. Taylor Wimpey received a relief from certain debt covenants.
123jump.com Staff
24 Dec, 2008
New York City
Mumbai stocks fell on low trading volume along with weak trading in Asia. Rupee gained against the dollar. Telecom sector was the active in the year with a deal total of $9 billion. Tata Motors fell 7% after UK based Jaguar and Land Rover will need additional $1 billion of capital.
Mayank Mehta
24 Dec, 2008
New York City
New York Times falls after November revenues decline. Micron Technology recovered from earlier losses after it reported a fall in quarterly revenues and wider loss. Of the stocks in S&P 500 index, 345 increased, 151 decreased and 4 were unchanged.
123jump.com Staff
24 Dec, 2008
New York City
The solar panel material maker revenues increased 73.1% to $325.5 million and net income declined 15.8% to $22.2 million and earnings per share of 17 cents. The company guided PV module shipment and net revenue targets for the fiscal year of 2008 of 270 to 280 mw and $1.05 billion to $1.1 billion.
123jump.com Staff
24 Dec, 2008
New York City
The home builder reported wider net loss of $799.9 million or $2.53 per share in the quarter. Cancellation rate of orders was 47%. Total sold homes declined to 6,961 from 11,733 and average closing price declined 12% to $221,900. In the quarter the builder sold land and lots for $209 million.
123jump.com Staff
24 Dec, 2008
New York City
The troubled Chinese dairy, Sanlu Group was declared bankrupt by Hebei provincial court after it was closed in September for selling tainted milk formula. Hong Kong visitors in November declined 1.1% and weakness in tourism sector is likely to continue in 2009. China foreign trade gains 18% in 2008.
123jump.com Staff
24 Dec, 2008
New York City
The Cabinet in Japan approves the largest budget for the fiscal year beginning next April. The budget increased 6.6% despite a fall in tax receipts. The government proposes to spend more for pensioners, payment to states and for emergency economic fund. Denso lowered its annual profit estimate.
123jump.com Staff
24 Dec, 2008
New York City
Australian banks increase fees and charges collected from loan issuances for mortgages, personal loans and credit cards. The banks have increased charges as rates have been lowered. Instead of cutting management salaries and operating costs banks have looked at customers to collect more revenues.
123jump.com Staff
23 Dec, 2008
New York City
U.S. stocks declined after home sales dropped to another low in November. Sales are likely to decline further in December and in the first quarter of the next year as job losses mount. The U.S. third quarter GDP data was left unchanged and UK current account deficit increased.
123jump.com Staff
23 Dec, 2008
New York City
UK current account deficit in the third quarter rose to 2.1% of gross domestic product or
Mayank Mehta
23 Dec, 2008
New York City
U.S. automakers fell again after rating agencies lowered debt rating on the expectations of weak sales. Satyam continues to slide. Of the stocks in S&P 500 index, 290 declined, 201 rose and 9 are unchanged. Ford Motor led decliners in the S&P 500 index with a loss of 16.7%.
123jump.com Staff
23 Dec, 2008
New York City
U.S. existing home sales declined at a faster pace in November and median price of a home fell too. The home sales were the steepest in the Northeast followed by the South. The new home sales declined at 2.9% to 407,000 homes. The third quarter estimate of GDP decline was left unchanged at 0.5%.
123jump.com Staff
23 Dec, 2008
New York City
Stocks in Mumbai dropped 2.4% on the worries that global financial crisis will deepen and foreign investment to India may suffer. The government urged Reserve Bank of India to lower rates further but did not indicate when. Wipro agrees to pay $127 million to acquire Citi Technology Services.
123jump.com Staff
23 Dec, 2008
New York City
China foreign currency reserves drop below US$1.9 trillion. Retail sale of consumer goods in China is likely to jump 21% in the year ending in December. Stocks in Hong Kong dropped 2.8% and in Shanghai plunged 4.9% on the worries that recent rate cut may not be sufficient.
