- 123jump.com Staff
- 25 Jun, 2009
- New York City
British Airways said that nearly 7,000 employees have shown interest in voluntary work with no pay program. The negotiations with administrative staff and cabin crew are still not final. Pilots have agreed to a small pay cut in exchange of longer work hours and a stake in the company.
- Darlington Musarurwa
- 25 Jun, 2009
- New York City
UK regulator proposes to ban all commissions paid by pension, insurance and fund managers to financial advisors. Standard & Chartered reported better than expected performance in the first five months in the year. Insurance companies fell on a downgrade of Prudential.
- Darlington Musarurwa
- 25 Jun, 2009
- New York City
Stocks in Tokyo trading jumped after the U.S. durable goods orders increased. The OECD forecasted deeper Japanese recession and slower recovery than earlier predicted. Exporters, machinery makers and trading companies led the gainers.
- 123jump.com Staff
- 25 Jun, 2009
- New York City
The logistics services provider total quarterly revenue declined 20% to $7.85 billion. Net quarterly loss widened 263% to $876 million impacted by goodwill-impairment charges and lower shipment volumes. The company lost $2.82 a share compared to a loss of 78 cents a share a year-ago quarter.
- Mayank Mehta
- 25 Jun, 2009
- New York City
Lennar Corp led gainers in the S&P 500 index with a rise of 9.5%. Bed Bath & Beyond earns $87.2 million in fiscal first quarter. ConAgra Foods fourth quarter profit drops 13%. Nike fourth quarter net income falls. Red Hat tops earnings views.
- Mayank Mehta
- 25 Jun, 2009
- New York City
Investors in India turned cautious on the worries of adequate monsoon rainfall and growing fiscal deficit. Makers of motorcycles, automobiles and consumer products fell. Tata Motors and Tata Steel fell ahead of earnings.
- Darlington Musarurwa
- 24 Jun, 2009
- New York City
The Fed left its key rate unchanged as expected. The central bank also said that low rates may be in place for extended period of time and indicated that economy remains fragile and the sustained recovery will occur over a longer period.
- Darlington Musarurwa
- 24 Jun, 2009
- New York City
European markets recovered in the afternoon trading. The OECD deepened its estimate of recession in Germany and UK but lifted its outlook among 30 member nations. Steel products distributor surged 5.1% after it indicated 1.6 billion euro capital for acquisition.
- 123jump.com Staff
- 24 Jun, 2009
- New York City
UK stocks surged after a rebound in mining companies. The better than expected U.S. durable goods orders lifted stocks in UK and Europe. The OECD forecasted deeper recession for UK and slower recovery in 2010. Better than expected profits lifted Stagecoach, Imagination Technologies and Inchcape.
- 123jump.com Staff
- 24 Jun, 2009
- New York City
Japanese exports fell 40.9% in May after falling 39.1% in April. The decline in exports to Asia and the U.S. was larger than expected. Investors overlooked the exports weakness and bid up electronics and machinery makers. Retailers fell on the worries that consumer spending is uncertain.
- Mayank Mehta
- 24 Jun, 2009
- New York City
Supervalu led the decliners in the S&P 500 index with a loss of 11.9%. AeroVironment fourth quarter net down 9%, Shares up. American Greetings first quarter earnings declined 25%. Net income at Monsanto fell 14% and Oracle declined 7%.
- Mayank Mehta
- 24 Jun, 2009
- New York City
Stocks in Mumbai gained despite the weakness in commodities prices and worries about the government issuing large amount of debts to fund fiscal deficit. Educomp Solutions surged after it formed a joint venture with UK based Pearson Plc for vocational training. ONGC reported 16% decline in earnings.
- 123jump.com Staff
- 24 Jun, 2009
- New York City
The electronics retailer first quarter revenue rose 12% to $10.10 billion but profit declined 14.5% to $153 million hurt mainly by restructuring charges. Earnings per share were 36 cents as against 43 cents in the year ago quarter.
- 123jump.com Staff
- 24 Jun, 2009
- New York City
Investors in Australia were cautious ahead of the U.S. rate decision. Gold and crude oil prices edged higher. Lion Selection and Catalpa Resources agreed to merge to create a mid-tier gold producer. On the last day of rights offering Rio Tinto share edged higher.
- 123jump.com Staff
- 24 Jun, 2009
- New York City
The defense contractor revenue grew 12% to $2.65 billion in the quarter. Net quarterly income increased 13% to $116 million helped by higher government spending on defense and cyber security. Earnings per share rose to 28 cents from 24 cents the prior-year quarter.