- 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.
- 123jump.com Staff
- 17 Jan, 2009
- New York City
The payroll and personnel service provider reported second quarter revenue of $542 million and net profit of $140 million or 39 cents per share and expects fiscal 2009 total service revenue growth to be between 5% and 7%.
- 123jump.com Staff
- 17 Jan, 2009
- New York City
The IT consultant revenues rose 6% to $6 billion including 3% negative impact of foreign exchange. Net income rose 26% to $479.87 million and earnings per share increased to $0.74 from $0.60 a share in the comparable period. New bookings were $5.80 billion.
- 123jump.com Staff
- 16 Jan, 2009
- New York City
The U.S. stocks edge higher after the Bank of America was offered emergency loan of $20 billion. The troubled bank and Citigroup declared larger than expected losses. UK is considering to offering more loan guarantees to banks, mortgage and corporate loans. Companies in Asia trim production.
- 123jump.com Staff
- 16 Jan, 2009
- New York City
UK plans to provide additional guarantee of
- 123jump.com Staff
- 16 Jan, 2009
- New York City
Banks continue to slide after Bank of America and Citigroup reported larger than expected quarterly losses. Barclays plunged 26% on the worries that the bank will need more capital. Elizabeth Arden dropped 39% and Estee Lauder declined 14% on weak earnings outlook.
- 123jump.com Staff
- 16 Jan, 2009
- New York City
Australian stocks failed to rebound after a sharp fall on weak employment data a day ago. Rio Tinto profit estimate was cut by 40% on lower prices and production volume. Woodside Natural Gas suspended off-shore LNG terminal project in Los Angeles.
- 123jump.com Staff
- 16 Jan, 2009
- New York City
Foreign direct investment in India tumbled as investors pulled capital around from the emerging markets. Stocks in Mumbai rose after the U.S. offered emergency funding to Bank of America. Larsen & Toubro entered in agreement with Westinghouse to build nuclear plant. Reliance to begin petrol exports.
- Darlington Musarurwa
- 16 Jan, 2009
- New York City
More companies in Japan lower estimates of earnings or forecast losses and cut production. Honda trimmed its production schedule for the third time in a year and Fuji Heavy Industries estimated a higher fiscal loss in the current year. Stocks in trading rallied after yen weakened.
- 123jump.com Staff
- 16 Jan, 2009
- New York City
In Hong Kong, HSBC was downgraded Goldman Sachs and cut its price target. The second downgrade in a week only confirmed the ongoing weakness in the financial sector that is beginning to spill over in Asia. Separately, Hong Kong office rents are expected to fall in half in the next two years.
- Trupti Mehta
- 16 Jan, 2009
- New York City
Bank of America Corporation fourth quarter revenues increased 22.5% to $15.68 billion and net loss was $1.79 billion or 48 cents a share. Citigroup Inc fourth quarter revenues fell 13% to $5.6 billion and net loss was $8.29 billion or $1.72 a share.
- 123jump.com Staff
- 15 Jan, 2009
- New York City
Banks and brokerages fell sharply in New York trading. The European Central Bank lowered rate to 2% as the fears of worldwide recession deepens. Banks in UK and in Europe declined as more capital may be needed from the government to bolster the financial system. Crude oil futures dropped below $35.