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Australia Trade Deficit Grows; Fewer Home Loans

Darlington Musarurwa
09 Dec, 2009
New York City

Mortgage loans in Australia fell 1.4% in October to A$23.3 billion and trade deficit in the month grows to A$2.4 billion. Preliminary estimate of consumer confidence falls 3.8% in December.

Japan Economic Growth Lowered; Suzuki Up

Darlington Musarurwa
09 Dec, 2009
New York City

The fiscal second quarter economic growth was revised downward to annual rate of 1.3% from 4.8% in the previous estimate. Japan plans to issue 44 trillion yen bonds in 2010. Suzuki sold 20% stake in Volkswagen AG and plans to use part of the proceeds to repay debt.

Crude Oil, Metals Drop; U.S. Stocks Rebound

123jump.com Staff
09 Dec, 2009
New York City

Crude oil closed lower today and has now fallen more than 12% in the last fifteen days. Gold and U.S. Treasuries edged lower. U.S. stocks closed higher despite worries that emerging markets may suffer another debt downgrade.

Spain, Greece, Ireland Debt Worries in Europe

Mayank Mehta
09 Dec, 2009
New York City

The weakness in banks dragged European markets lower at close. Investors fear that debt downgrades at Spain, Europe and emerging nations may generate more losses at banks. VW and Suzuki finalized their cross-investment and joint collaboration.

UK Proposes to Tax Banker Bonuses, Raise Tax

Mayank Mehta
09 Dec, 2009
New York City

UK plans to tax banker bonuses with 50% levy and will also increase national insurance contributions to pay for the bank bailout and economic stimulus. BHP Billiton sells Ravensthorpe for $340 million.

Movado, Men's Wearhouse and Kroger Plunge

Mayank Mehta
09 Dec, 2009
New York City

Dr Pepper Snapple will receive one time payment of $900 million to license certain brands to PepsiCo. Movado Group plunged after it reported sharply lower quarterly earnings. Kroger and Men

VW Acquires 20% Stake in Suzuki; India Exposure

123jump.com Staff
09 Dec, 2009
New York City

Volkswagen AG and Suzuki Motor acquire stakes in each other as the German auto maker looks for growth in small car segment in India. VW will pay $2.5 billion for nearly 20% stake in Suzuki. Only a decade ago VW had questioned the need to be in India and relied on China and Brazil of sales increase.

Godrej, JSW Energy IPOs in India

123jump.com Staff
09 Dec, 2009
New York City

Stocks in India traded lower but software services providers reached a new annual high. Standard Chartered Bank offered $1 billion of credit line to Essar Oil to fund its refinery purchase Europe. Godrej Properties initial offering is oversubscribed on the first day.

U.S. Stocks Fall, Emerging Markets Worries

123jump.com Staff
09 Dec, 2009
New York City

U.S. stocks trade lower on the emerging market worries and growing fears that Dubai contagion may spread to Greece, Spain, Ireland and other emerging markets. S&P lowered Spain sovereign debt rating by one notch. Crude oil and gold declined.

U.S. Stocks, Commodities Fall; Dubai Hangover

123jump.com Staff
08 Dec, 2009
New York City

U.S. stocks, gold and crude oil declined as banks in Europe edged lower and industrial and financials declined in New York. Dubai worries dragged banks in London. Gold and crude oil fell after the dollar maintained its advance against currencies.

Australian Current Account Deficit Rises

Darlington Musarurwa
08 Dec, 2009
New York City

Australia

Japan Seeks $81 B of Stimulus; Stocks Decline

Darlington Musarurwa
08 Dec, 2009
New York City

Japan to unveil 7.2 trillion yen or $81 billion additional stimulus that will offer a mix tax rebate, increased loans to small businesses and support to the struggling job market. Bankruptcies fall 11.4% in November in Japan. Current account surplus in October increased 43%.

Indian Auto Sales Surge 61%; Additonal Stimulus

Mayank Mehta
08 Dec, 2009
New York City

The Indian government plans to increase its spending by $5 billion to support food, fertilizer and energy prices. Auto sales in November surged 61% as small cars drive sales. Bus, truck and motor cycle sales also gained. JSW Energy initial public offering was oversubscribed on the second day.

European Markets Weaken; VW, BMW Sales Rise

Mayank Mehta
08 Dec, 2009
New York City

German seasonally adjusted industrial production decreased 1.8% in October from September. Production declined 12.4% from a year ago. BMW and Volkswagen sales increased in November. Greek stocks and bonds decline.

Banks Lead Decliners in London; Tesco Sales

Mayank Mehta
08 Dec, 2009
New York City

Dubai worries dominated trading in London. The UK benchmark index declined after commodities and banks closed lower. Royal Bank of Scotland and Standard Chartered led the decliners in the sector. Tesco same store sales increased 2.8% in the third quarter.

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