123jump.com Staff
20 Jan, 2009
New York City
Barack Hussein Obama took oath as the 44th president of the United States and asked Americans to take responsibilities for rebuilding the America. In New York trading investors dumped banks, asset managers and indexes plunged between 4% and 5%. UK was forced to offer second and a larger bailout.
123jump.com Staff
20 Jan, 2009
New York City
A decline in banks led the most the actively traded stocks in New York. State Street, the largest institutional money manager plunged nearly 45% on weak earnings outlook and dragged other asset managers with it. ConocoPhillips cut its capital spending by 18% and staff by 4%.
123jump.com Staff
20 Jan, 2009
New York City
Mumbai stocks fell on the worrries that the world financial system may suffer for more weaknesses. Weak trading persisted on both exhanges in Mumbai as retail investors brace for losses. The benchmark index Sensex traded above 9100. Hero Honda net rises 9.3%, TCS wins IT service order from Ducati.
123jump.com Staff
20 Jan, 2009
New York City
Australian slipped 3.1% on weakness in financial stocks. Royal Bank of Scotland estimated the largest recorded loss of 28 billion of any British company. A decline in commodities prices led to another round of losses in miners and metal makers.
123jump.com Staff
20 Jan, 2009
New York City
Tokyo stocks dropped more than 2% on the latst read on the service industry index showed a decline in November. The weakness in the service sector is the latest confirmation of the declining economy in Japan. Tokyo appoints grandson of the founder Toyoda.
123jump.com Staff
20 Jan, 2009
New York City
Hong Kong stocks plunged nearly 3% on the global markets weakness. The plunge in Royal Bank of Scotland renewed fears that HSBC, one of the largest lender in the region may suffer more loan losses. HSBC dropped for the seventh day in a row. HKMA and PBoC entered in a currency swap to add liquidity.
123jump.com Staff
19 Jan, 2009
New York City
The markets in the U.S. were closed. Royal Bank of Scotland plunged after the UK Treasury converted its preferred stocks to common stocks. Japan property sales plunged. Toyota cut its production on weak demands in the U.S. and Japan.
123jump.com Staff
19 Jan, 2009
New York City
The UK government was forced to convert its holding in Royal Bank of Scotland to increase its capital ratio that will facilitate new bank lending. The UK Treasury offered addtional access to lending and provided a raft of several measures that include det extensions and asset guarantees.
123jump.com Staff
19 Jan, 2009
New York City
Australian stocks rebounded after precious and base metals rose on the specualtion that the recent stimulus in Europe and the U.S. will drive the demand higher. Separately, a private economic forecast suggested a sharp slide into a recession. Western Australia property prices drop.
123jump.com Staff
19 Jan, 2009
New York City
Toyota plans to cut in half its production in Japan and in the U.S. as the global vehicle demand estimates weaken. Only few weeks ago General Motors lowered its estimate of global and domestic U.S. demand. Property transactions declined 50% in the year and 80% in December.
123jump.com Staff
19 Jan, 2009
New York City
Hong and China are facing sharply lower economic growths in the current year and economy to be at its weakest in the first half of this year. China is expected to grow at 8.3% in the current fiscal year but exports are likely to fall 6.5% and imports are expected to decline 4.6%.
123jump.com Staff
19 Jan, 2009
New York City
India is expected to unveil another stimulus package at the end of the month to increase public infrastructure spending. Foreign direct investment in the current year is expected to slow but will meet the target of $35 billion according to the commerce minister.
123jump.com Staff
18 Jan, 2009
New York City
The steelmaker reported net loss of $160 million or $2.02 a share on sales rise of 4% from a year ago to $745.4 million. The company plans to close cold-rolled steel plant in Kentucky. Total debt at the end of the quarter was $371 million, down $74 million from the previous quarter.
123jump.com Staff
18 Jan, 2009
New York City
The home builder reported quarterly loss of $811 million or $5.12 a share and sales plunged 41% to $1.28 billion. The number of joint ventures declined to 116 from 148 in the previous quarter. At the end of the quarter the cash on balance sheet was $1 billion and debt to capitalization ratio was 49%.
123jump.com Staff
17 Jan, 2009
New York City
The enterprise software company reported a decline in profit due to the strengthening dollar. Quarterly revenue rose 6% to $5.61 billion and net income declined to $1.29 billion or $0.25 per share, compared to $1.30 billion or $0.25 per share in the year-ago quarter.
