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GE in $5.7 B Deal with Haier; BlackRock, Citigroup Profit Surge

Mukesh Buch
15 Jan, 2016
New York City

BlackRock profit jumped 6%. Citigroup net surged after loan losses slumped and operating expenses declined. GE plans to sell its appliance business to China-based Haier for $5.4 billion. Fastenal net declined 6%. Wells Fargo net in the quarter was flat at $5.7 billion.

European Markets Drop 2% on China Worries and Plummeting Oil Price

Lucy Stoeva
15 Jan, 2016
New York City

European stock markets extended losses as oil prices tanked below $30 a barrel and the outlook on China remained pessimistic. BHP Billiton wrote down $7.2 billion in U.S. shale assets. Renault confirmed French investigation for emissions fraud. H&M posted better-than-expected December sales.

S&P 500 Down 3% on Global Gloom and Oil Below $30

Nichole Harper
15 Jan, 2016
New York City

Market indexes on Wall Street accelerated declne after another day of sell-off in China spread to Asia and Europe. Indexes in China dipped into bear zone and European markets declined more than 1% and crude oil dipped to a new low in the year and retail sales dipped 0.1% in December.

China and India Indexes Approach Bear Zone, Rupee Drifts Lower

Sarla Buch
15 Jan, 2016
New York City

Stocks in Mumbai traded lower and extended weekly and year loss after weak profit from Hindustan Lever added to global market jitters. Emerging markets and commodities continued to struggle on the growing worries that China may let yuan drift lower by another 10% to sustain exports.

Rupee Drifts to New Low Despite Oil at 12-Year Low

Sarla Buch
14 Jan, 2016
New York City

Market indexes on Dalal Street extended weekly losses and the rupee dropped to a new record low despite the crude oil price falling to 12-year low. Infosys said quarterly profit rose 7%. Everest Industries net more than doubled. Cyient net declined 12%.

JPMorgan Profit Soars; Best Buy, GoPro Decline on Weak Sales

Mukesh Buch
14 Jan, 2016
New York City

JPMorgan Chase net soared 10% as non-interest expense fell 7%. Best Buy plunged 8% after the retailer lowered revenues outlook. GoPro tumbled on lower than anticipated sales. AEP Ind net swung to profit. Clarcor net tumbled 24%. HB Fuller net more than doubled.

Decline in Automakers Lead European Markets Down

Lucy Stoeva
14 Jan, 2016
New York City

European markets plunged on weakness in auto makers, oil price jitters, and volatile Shanghai market. Renault is allegedly investigated for emission-related fraud. The Bank of England kept its interest rates at 0.5%. The German economy expanded at the fastest pace in five years.

Nikkei Plunges 2.7% on Global Slowdown Worries

Hiruki Nakamura
14 Jan, 2016
New York City

Nikkei in Tokyo dropped 2.7% as markets in Asia extended losses. Investors turned cautious on the worries that the global economic growth may slow down on the persistent decline in energy prices and deepening deflation in China.

Nikkei Rebounds 2.9% on China Trade Data

Hiruki Nakamura
13 Jan, 2016
New York City

Nikkei average in Tokyo soared 2.9% after China reported smaller-than-expected decline in exports in December. The Bank of Japan said M2 and M3 money stock increased in December.

European Markets Extend Gains, Tullow Cuts 2016 Capex

Lucy Stoeva
13 Jan, 2016
New York City

European sentiment rebounded and investor sought comfort in the latest international trade data from China. Barratt said home completion in six months to December increased 9.4%. U.K. retailer Dunelm blamed the mild winter for the 0.8% drop in sales. Sodexo kept its forecast for 3% revenue growth in 2016.

GM Raises Dividend and Profit Outlook; CSX, Supervalu Decline

Mukesh Buch
13 Jan, 2016
New York City

CSX said net and revenues declined. GM lifted earnings forecast and raised dividend by 6% and approved share buyback of $4 billion. Intuitive Surgical forecasted revenues to soar 12%. Progress Software net swung to a loss. Supervalu profit plunged 57%.

Sensex Rises 0.7%, TCS Quarterly Net Flat

Sarla Buch
13 Jan, 2016
New York City

Tata Consultancy Services said quarterly profit was flat and revenues rose 0.7%. Bharti Airtel plans to sell its two units in Africa to France-based Orange. Tata Power plans to raise ₹500 crore through a debenture offering.

European Markets Turn Corner, Debenhams and Morrison Jump

Lucy Stoeva
12 Jan, 2016
New York City

European stocks rebounded as domestic companies issued better than expected quarterly updates and markets in China stabilized. In the U.K., retailers Debenhams and Wm. Morrison Supermarkets surged after posting better than expected Christmas sales. SAP

Nikkei Plunges 2.7%, Japan's Current Account Surplus Narrows

Hiruki Nakamura
12 Jan, 2016
New York City

Nikkei in Tokyo extended year-to-date losses and the yen advanced after the crude oil prices fell and stocks in Shanghai faced more downward volatility. Current account surplus narrowed in November. Aeon Co plunged nearly 10% after reporting a loss.

Sensex Declines 0.6%, Adani Ports to Raise $700 M

Sarla Buch
12 Jan, 2016
New York City

Sensex in Mumbai extended weekly losses and the rupee drifted near record low. IndusInd Bank surged 30%. L&T extended construction order wins in 2016. NIIT received contract worth

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