- 123jump.com Staff
- 24 Dec, 2008
- New York City
The home builder reported wider net loss of $799.9 million or $2.53 per share in the quarter. Cancellation rate of orders was 47%. Total sold homes declined to 6,961 from 11,733 and average closing price declined 12% to $221,900. In the quarter the builder sold land and lots for $209 million.
- 123jump.com Staff
- 24 Dec, 2008
- New York City
The troubled Chinese dairy, Sanlu Group was declared bankrupt by Hebei provincial court after it was closed in September for selling tainted milk formula. Hong Kong visitors in November declined 1.1% and weakness in tourism sector is likely to continue in 2009. China foreign trade gains 18% in 2008.
- 123jump.com Staff
- 24 Dec, 2008
- New York City
The Cabinet in Japan approves the largest budget for the fiscal year beginning next April. The budget increased 6.6% despite a fall in tax receipts. The government proposes to spend more for pensioners, payment to states and for emergency economic fund. Denso lowered its annual profit estimate.
- 123jump.com Staff
- 24 Dec, 2008
- New York City
Australian banks increase fees and charges collected from loan issuances for mortgages, personal loans and credit cards. The banks have increased charges as rates have been lowered. Instead of cutting management salaries and operating costs banks have looked at customers to collect more revenues.
- 123jump.com Staff
- 23 Dec, 2008
- New York City
U.S. stocks declined after home sales dropped to another low in November. Sales are likely to decline further in December and in the first quarter of the next year as job losses mount. The U.S. third quarter GDP data was left unchanged and UK current account deficit increased.
- 123jump.com Staff
- 23 Dec, 2008
- New York City
UK current account deficit in the third quarter rose to 2.1% of gross domestic product or
- Mayank Mehta
- 23 Dec, 2008
- New York City
U.S. automakers fell again after rating agencies lowered debt rating on the expectations of weak sales. Satyam continues to slide. Of the stocks in S&P 500 index, 290 declined, 201 rose and 9 are unchanged. Ford Motor led decliners in the S&P 500 index with a loss of 16.7%.
- 123jump.com Staff
- 23 Dec, 2008
- New York City
U.S. existing home sales declined at a faster pace in November and median price of a home fell too. The home sales were the steepest in the Northeast followed by the South. The new home sales declined at 2.9% to 407,000 homes. The third quarter estimate of GDP decline was left unchanged at 0.5%.
- 123jump.com Staff
- 23 Dec, 2008
- New York City
Stocks in Mumbai dropped 2.4% on the worries that global financial crisis will deepen and foreign investment to India may suffer. The government urged Reserve Bank of India to lower rates further but did not indicate when. Wipro agrees to pay $127 million to acquire Citi Technology Services.
- 123jump.com Staff
- 23 Dec, 2008
- New York City
China foreign currency reserves drop below US$1.9 trillion. Retail sale of consumer goods in China is likely to jump 21% in the year ending in December. Stocks in Hong Kong dropped 2.8% and in Shanghai plunged 4.9% on the worries that recent rate cut may not be sufficient.
- 123jump.com Staff
- 23 Dec, 2008
- New York City
For the third straight quarter New Zealand GDP declined. In the quarter ending in September, economy shrank 0.4% after dropping 0.2% in the previous quarter. The economy also declined 0.1% from a year ago, a first annual decline in a year. HFA Holdings plunged after it halted redemptions.
- 123jump.com Staff
- 22 Dec, 2008
- New York City
U.S. stocks fell on the worries that General Motors may need more funding, weakness in insurance stocks and worsening economic outlook. Irealnd was forced to inject 5.5 billion in emergency capital to save three largest bank. China lowered is rate for the fifth time and Toyota slashed its earnings.
- 123jump.com Staff
- 22 Dec, 2008
- New York City
Miners and insurers fell in London trading. UK home prices are expected to decline 10% after falling 9% in the current year. The European Commission approves Electricite de France acquisition of British Energy. Pound inches near parity with the euro. Ireland pumps 5.5 billion euros in banks.
- 123jump.com Staff
- 22 Dec, 2008
- New York City
U.S. stocks dropped for the fourth day in a row. Insurance stocks led decliners. Of the stocks in S&P 500 index, 36 gained, 462 declined and 2 were unchanged. LSI Corp led decliners in the index with a loss of 22% and AIG led gainers in the S&P 500 index with a rise of 3.1%.
- 123jump.com Staff
- 22 Dec, 2008
- New York City
The agricultural machinery revenues were $7.401 billion and net income of $345 million or $0.81 a share compared to $422.1 million or $0.94 a share a year ago. U.S. farm cash receipts for 2008 and 2009 are at good levels. The company estimated income for the first quarter 2009 of $275 million.