Darlington Musarurwa
18 Aug, 2009
New York City
Reserve Bank of Australia highlighted that risks to global economies are reduced but not declined. The latest monetary policy committee meeting suggested that bank is worried about too accommodative interest rate regime. Amcor Ltd offered $2 billion to acquire the packaging unit of Rio Tinto.
Mayank Mehta
18 Aug, 2009
New York City
Stocks in Mumbai rebounded 1.6% after late monsoon rains in key agriculture states. Foreign investors continue to increase their exposure to India. Bharti Airtel advanced after several banks approached the telecom carrier to fund the MTN Group Ltd.
123jump.com Staff
18 Aug, 2009
New York City
The computer networking gear maker net sales declined 18% to $8.54 billion in the quarter. Net quarterly income slumped 46% to $1.1 billion. Earnings per share plummeted to 19 cents from 33 cents a year-ago quarter. Net sales for the fiscal year 2009 fell 9% to $36.1 billion.
Mukesh Buch
17 Aug, 2009
New York City
World stock markets fell. Commodities linked Brazil, Canada and Australia declined sharply after Shanghai benchmark index plunged more than 5%. In New York tech stocks dropped but healthcare insurance stocks closed higher. Crude oil, copper and gold fell. Yields on Treasuries declined.
123jump.com Staff
17 Aug, 2009
New York City
European markets declined on weak commodities and energy prices and a fall in global markets. Volkswagen fell nearly 10% but Porsche rose after broker recommendation. RWE disposes of more shares in American Water and raises $650 million. Allianz declined 2% after first half net dropped 29.6%.
Mayank Mehta
17 Aug, 2009
New York City
UK stocks edged lower on global market weakness and a fall in commodities prices. Home sellers also lowered the asking price. Mining companies after commodities declined on weak China demand. The global recruitment agency Michael Page drops 5% after net plunged 52%.
Mayank Mehta
17 Aug, 2009
New York City
Marshall & Ilsley declined after it booked a charge related to bad mortgage loans. BB&T filed to raise $750 million after it agreed to acquire Colonial BancGroup. First Solar fell on accounting issues. Global Sources Ltd surged after net fell 39%. Healthcare insurance provider increased.
123jump.com Staff
17 Aug, 2009
New York City
Global stocks decline after a sell-off that started in Asia and spreads to Europe and Americas. Resource stocks led the decliners on weak economic reading in Japan and China and worries that economic rebound may be further away than estimated.
Darlington Musarurwa
17 Aug, 2009
New York City
Japan GDP rebounded 0.9% in the second quarter ending in June on a turnaround in exports and a rise in industrial production. Most economists attributed the milder than expected rebound as temporary. Stocks declined sharply on weak commodities prices and U.S. consumer confidence report.
Darlington Musarurwa
17 Aug, 2009
New York City
Australian stocks declined after Asian markets and commodities prices fell. Copper led the decliners in the metals trading. Fortescue Metals offered 35% discount to Chinese steel maker, breaking the long impasse the discussion between Chinese steelmakers and Australian iron ore miners.
Mayank Mehta
17 Aug, 2009
New York City
The benchmark index in Mumbai plunged 4% as markets in Asia drop sharply. Companies in India seek capital infusion through public offering and courting international investors. Nearly nine companies are looking to raise a total of $1.5 billion. Rupee declined on monsoon worries.
123jump.com Staff
15 Aug, 2009
New York City
Kenneth Cole second quarter consolidated net revenues declined only 15.5% to $93.9 million driven by improved gross margins and effective cost controls. Net loss was $3.2 million or 18 cents against $2.0 billion and 11 cents in the prior year quarter. Comparable same-store sales declined 14.7%.
Mukesh Buch
15 Aug, 2009
New York City
For all those who believe inflation is benign and under control may need to think again. The inflation index in the last eight years has jumped 25% in addtion to the surge of 100% in the previous decade. Dole Food filed $500 million offering to repay debt. BB&T surges on a deal to acquire Colonial.
Mayank Mehta
14 Aug, 2009
New York City
Porsche agreed to sell 10% stake to Qatar and the sovereign fund will also acquire options in Volkswagen AG. Volkswagen plunged 15% after it agreed to acquire Porsche. Hochtief AG gained after it plans to spin off its portfolio holdings in airports and toll roads.
Mayank Mehta
14 Aug, 2009
New York City
UK home possessions in the second quarter increased but at a slower pace compared to the first quarter. For the year the industry association still estimates possessions to rise to 65,000. Man Group sells remaining stake in MF Global to Nomura.
