- Mayank Mehta
- 30 Nov, 2009
- New York City
UK banks led the decliners in trading on Dubai worries. The banks in UK have lent at least 80% loans to Dubai World, controlled by Dubai government. Royal Bank of Scotland, Lloyds Banking and Standard Chartered Bank fell more than 2.5%.
- Mayank Mehta
- 30 Nov, 2009
- New York City
U.S. stocks traded sideways. Ratings revisions lifted Abercrombie & Fitch, Deer & Company, Nucor and Supervalu. AIG dropped 7.4% after Sanford C. Bernstein & Co lowered it price target by 40% to $12. CSG Systems increased 8%. Apparel retailers edged lower.
- Mayank Mehta
- 30 Nov, 2009
- New York City
India''s economy in the quarter ending in September increased at 7.9% from a year ago. The faster than expected growth lifted stocks and rupee edged higher. Tata Motors swung to a small net profit on higher sales and lower operating costs.
- Mukesh Buch
- 30 Nov, 2009
- New York City
Financial markets in Middle East dropped after Dubai government clarified that lenders should restructure loans to Dubai World and not wait for the government assistance. Markets in Dubai and Abu Dhabi fell more than 7%. DP World dropped 15% and Emmar Properties declined 10%.
- 123jump.com Staff
- 30 Nov, 2009
- New York City
U.S. stocks are expected to open lower after Dubai government says that lenders should work with Dubai World to restructure loans. the benchmark indexes in UAE dropped more than 7%. Talks of regional bailout in the Middle East gain momentum.
- 123jump.com Staff
- 27 Nov, 2009
- New York City
Stocks in Tokyo closed lower after world markets declined and banks closed lower. The yen strengthened against the dollar and touched to a 14-year intra-day high. Exporters, shippers and trading companies closed lower.
- Mayank Mehta
- 27 Nov, 2009
- New York City
Australian stocks declined tracking the world market weakness after Dubai worries unnerved world investors. Leighton Holdings Limited confirmed that certain project payments in Dubai are delayed. Australian dollar traded weak. Gold miners closed lower after precious metals decline.
- Mayank Mehta
- 27 Nov, 2009
- New York City
Stocks in Mumbai traded lower on the worries that Indian banks may have exposure to the loans that are in the process of rescheduling in Dubai, UAE. Ranbaxy launches generic version of herpes drug in the U.S. Sun Pharma receives US regulatory approval to sell mental disorder treatment generic drug.
- Mukesh Buch
- 27 Nov, 2009
- New York City
U.S. stocks closed lower after Dubai worries plague world markets. Crude oil and god decline. UK banks with $50 billion of exposure may take larger than expected losses. Citigroup has the largest loan exposure of all American banks loans totaling $8 billion.
- 123jump.com Staff
- 27 Nov, 2009
- New York City
European markets closed higher and recovered from the earlier losses. Dubai loan losses and the worries that the debt reschedule may force rating revision of sovereign debt of Dubai, UAE. In trading, Volkswagen increased 6% on an upgrade and the company is targeting higher sales in Brazil.
- Mayank Mehta
- 27 Nov, 2009
- New York City
UK stocks rebounded after early losses on the worries that Dubai debt rollover may presage a wider problem in the region. The banks in the UK and Europe dropped more than 5% after RBS confirmed that UK banks have $50 billion of loan exposure to UAE.
- Mayank Mehta
- 27 Nov, 2009
- New York City
Banks in New York and Europe declined after investors worried that fast developing Dubai credit crunch may contribute to losses. Royal Bank of Scotland led a consortium of seventy bankers to fund most of the debt that fueled construction boom in Dubai.
- 123jump.com Staff
- 27 Nov, 2009
- New York City
U.S stocks trade lower tracking losses in Asia and Europe. The three popular indexes the Dow, the S&P 500 and the Nasdaq lost 1.5%. Gold dropped 1.4% and crude oil declined 4%. Investors are rattled as Dubai reschedules $10 billion of debt and seek a better understanding of off-balance sheet debt.
- Darlington Musarurwa
- 26 Nov, 2009
- New York City
The business investment in the three months to September fell 3.9% in Australia surprising economists. Default rate on home loans declined as unemployment rate drops and mortgage rates decline in Australia. BHP Billiton reiterates its intention to strike a joint venture agreement with Rio Tinto.
- 123jump.com Staff
- 26 Nov, 2009
- New York City
The European indexes declined more than 3% after banks fell more than 5%. Banks fell sharply on the worries that exposure to Dubai loans may increase losses. IKB Deutsche Industriebank swings to first-half loss of