- Marcus Jacob
- 05 Aug, 2011
- New York City
The Australian benchmark index plunged 4% following a worldwide sell-off that wiped out between 3% and 5% in most markets. The Australian index is down 19% from its peak and markets in Italy, Spain and Switzerland are down more than 20% in three months.
- Bikram Pandey
- 04 Aug, 2011
- New York City
The U.S. indexes plunged 4.8% as the reality of the Republican Party demanded budget cuts sets in. European markets also plunged as much as 5% as the debt contagion spreads to bigger nations, Span and Italy. Crude oil dropped 5% and gold and silver eased. Yields on 10-year Treasury declined to 2.6%.
- Mukesh Buch
- 04 Aug, 2011
- New York City
Apache second quarter net income rose to $1.24 billion. BCE second quarter net income fell 2.5%. General Motors reported its profit for the sixth quarter in a row. Kraft Foods second quarter net earnings rose 4.2% and decided to split the company into two. Sotheby
- Darlington Musarurwa
- 04 Aug, 2011
- New York City
U.S. markets resumed their slide after weaker than expected jobs market report. The Dow, S&P 500 and the Nasdaq are now in correction with at least 8% decline in the last two weeks. Kraft Foods decided to split the company into two and General Motors reported its sixth quarterly profit in a row.
- Devan Biswas
- 04 Aug, 2011
- New York City
European markets jitters dragged indexes lower for the third week in a row as Spain completed the sale of
- Nigel Thomas
- 04 Aug, 2011
- New York City
Stocks in Tokyo trading gained after two days of steep losses. The finance ministry intervened to weaken the yen and the Bank of Japan planned to increase its asset buying program. Toshiba Ltd and Mitsubishi Heavy Industries Ltd entered in merger talks.
- 123jump.com Staff
- 04 Aug, 2011
- New York City
The Internet conglomerate reported revenue for the quarter increased 23% to $485.4 million. Net quarterly income doubled 212% to $42.4 million driven by double-digit revenue growth across all segments. Earnings per share rose to 44 cents versus 12 cents per share a year-ago quarter.
- Marcus Jacob
- 04 Aug, 2011
- New York City
Australian stocks fell to the lowest last seen in July 2009 and dropped 14% from its peak in April. Miners and banks led the decliners for the second week in a row. Rio Tinto said first half net soared 30% and left its outlook for the rest of the year intact. The Australian dollar declined 1.8%.
- Bikram Pandey
- 03 Aug, 2011
- New York City
The U.S. and world markets extended losses in the third week on the growing uncertainties about the U.S. economic health and euro-zone debt contagion. Italy and Spain are not in the direct focus of bond speculators. MasterCard Inc soared after transactions and payment through its network soared.
- Mukesh Buch
- 03 Aug, 2011
- New York City
Comcast second quarter income increased to $1.02 billion. Devon Energy second quarter income soared 288% to $2.7 billion. MasterCard second quarter income increased 33% to $608 million. Time Warner second quarter income rose to $638 million.
- Darlington Musarurwa
- 03 Aug, 2011
- New York City
The U.S. indexes gained after a decline for eight days in a row after private sector added 114,000 jobs in July. MasterCard, TimeWarner, Comcast and Clorox reported better than expected earnings. European markets struggled on the growing worries about Italy.
- Devan Biswas
- 03 Aug, 2011
- New York City
European markets extended losses to 10% in ten days as the debt stress resurfaced forcing Italian finance minister in an emergency meeting with the Bank of Italy and the prime minister of Spain to cut his vacation for the second day. Switzerland lowered its key rate to near zero.
- Nigel Thomas
- 03 Aug, 2011
- New York City
Japanese stocks fell 2% following a worldwide sell-off. The U.S. debt accord failed to allay the long term debt worries and the stress in the euro-zone sovereign bond markets rose to a new high with Italy in focus. The yen flirted near a record high and the U.S. sales of Honda and Toyota lagged.
- Marcus Jacob
- 03 Aug, 2011
- New York City
Stocks in Australian declined sharply following the sell-off in the U.S. and European markets. Commodities declined but gold closed at a record high. Retail sales fell 0.1% in June but rose 0.3% in the second quarter. Australian trade surplus declined to A$2.05 billion in June on flat exports.
- Bikram Pandey
- 02 Aug, 2011
- New York City
The U.S. indexes declined as economic worries gathered storms in the U.S. and Europe. The Nasdaq dropped 2.8% and the S&P 500 index declined 2.6%, wiping out the gains of the year. Gold soared but crude oil declined. The eight decline wiped out 7%.