- Mayank Mehta
- 18 Dec, 2008
- New York City
U.S. stocks declined with leading indicators down 1%. Of the stocks in S&P 500 index, 274 declined, 221 increased and 5 rose. MEMC Electric fell on lowered sales outlook. Discover Financial surged on better than expected earnings. A fall in oil prices dragged oil complex stocks and steel makers.
- 123jump.com Staff
- 18 Dec, 2008
- New York City
UK retail sales in November rose 0.3% from October. The unexpected rise in sales was supported by a rise in sales of food, household goods and other items. The pound falls to a record low against the euro on the expectations of a drop in interest rates and high government borrowings.
- 123jump.com Staff
- 18 Dec, 2008
- New York City
Annualized inflation rate in India falls to 6.84% at the end of the first week in December. Indian government is seeking additional $9 billion for fiscal spending in year through March 2009. The benchmark Sensex index closes above 10,000.
- 123jump.com Staff
- 18 Dec, 2008
- New York City
Leading Australian banks caution shareholders of rising bad debt expenses in 2009. Slowing economy and weak job market are expected to increase bad debt expenses at Commonwealth Bank to 60 basis points from 40. ANZ also cautioned of rising expenses.
- Darlington Musarurwa
- 18 Dec, 2008
- New York City
Japan stocks rise on interest rate cut hopes. Winter bonuses fall 0.4%, a decline for the first time in six years. Auto sales in 2009 are expected to fall below 5 million vehicles for the first time in 31 years.
- 123jump.com Staff
- 18 Dec, 2008
- New York City
China unveiled another stimulus package focused on low income housing market. The government will lower taxes on capital gains on sales and offer cheaper financing for the second apartment purchase. In Hong Kong, property developers rose and lifted indexes in Hong Kong and in China.
- 123jump.com Staff
- 18 Dec, 2008
- New York City
U.S. automakers struggle while the White House and Treasury avoid bailout plan endangering the industry and 3 million jobs in the industry. The U.S. Congress is deeply concerned in how Treasury has handled TARP. The British pound drops again. Carrefour SA lowers sales guidance for the second time.
- 123jump.com Staff
- 18 Dec, 2008
- New York City
Goldman Sachs reported fourth quarter net loss of $2.12 billion or loss per common share of $4.97 compared with earnings per share of $7.01 a year ago. Full year net revenues for 2008 were $22.2 billion, net earnings were $2.3 billion, and earnings per diluted share were $4.47.
- 123jump.com Staff
- 17 Dec, 2008
- New York City
Russia based wireless carries revenues rose 50% to $2.845 billion and net income declined to $269 million or $0.27 per ADS from $458 million or $0.45 per share a year ago. Subscriber base expanded by more than 4 million in the quarter.
- 123jump.com Staff
- 17 Dec, 2008
- New York City
U.S. stocks scaled back from a surge of 4% in the previous session on the worries that the Fed less room to maneuver. Macys led gainers in the S&P 500 index and Newell Rubbermaid led decliners. UK unemployment soars to 6%. Hong Kong lowered its key lending rate in step with the Fed.
- 123jump.com Staff
- 17 Dec, 2008
- New York City
Of the stocks in S&P 500 index, 264 rose, 233 declined and 3 were unchanged. Macys led gainers in the index with a surge of 14% after it renegotiated terms of its bank debt. Tesoro gained on a fall in crude oil price below $40 a barrel.
- 123jump.com Staff
- 17 Dec, 2008
- New York City
U.K. unemployment rate soars to 6% in the three months to October, a rise of 0.4 percentage points from the previous quarter. The retailer under administration, Woolworth faces closure at the end of first week in January, unless it finds a buyer.
- 123jump.com Staff
- 17 Dec, 2008
- New York City
Skilled workers job vacancies decline 7.2% in December. Australia leading index of economic indicators eases to 0.6% in October. CBA completed A$2 billion capital raising after it dropped Merrill Lynch from the underwriting team. The troubled mall operator, Centro Retail Group surged 42%.
- Darlington Musarurwa
- 17 Dec, 2008
- New York City
Japan stocks rose 0.5% after the U.S. Federal Reserve cut its rates from 1% to record low range. Investors speculated that the Bank of Japan will also lower its base rate at its next monetary policy meeting. Automakers however trimmed gains after Honda lowered its outlook.