- 123jump.com Staff
- 04 Dec, 2008
- New York City
The Bank of England lowered its key lending rate by 1% to 2% and cited that the economic downturn has gathered pace. The sharper than expected rate cut raised questions about the health of the economy. The central bank expects inflation to decline as food and energy prices fall. Home prices fell.
- 123jump.com Staff
- 04 Dec, 2008
- New York City
Stocks in Mumbai trading sharply after the hopes that Reserve Bank of India will lower rates significantly to sustain economic expansion. Key benchmark index closed above 9,000. Realty, financials and metals stocks gained. Wholesale inflation fell to 8.4% stoking rate cut expectations.
- 123jump.com Staff
- 04 Dec, 2008
- New York City
Australia Bureau of Statistics reported that balance of goods and services was a surplus of A$2.9 billion in October from a revised surplus of A$1.25 billion in the previous month. Separately ABS reported that total dwelling units approved dropped 5.4% to 10,730 units in October from a year ago.
- 123jump.com Staff
- 04 Dec, 2008
- New York City
Tokyo stocks fell 1% on the worries that automakers in Japan will suffer if GM and Chrysler are forced to seek bankruptcy protection. Separately, Profits at Japanese companies dropped 22.4% in the three months to September. Yen dropped against dollar but remains at the highest level for the year.
- 123jump.com Staff
- 04 Dec, 2008
- New York City
Stocks in Hong Kong fell but in Shanghai rose on trading volume below average level last year. Earlier stock dropped as much as 2% on the higher mortgage rates. Realty stocks fell sharply but banks rose.
- 123jump.com Staff
- 04 Dec, 2008
- New York City
Initial claims of unemployment fell at the end of last week but number of insured unemployed persons rose above 4 million. November same store sales fell sharply, despite initial surge in the holiday period. AT&T Inc plans to eliminate 12,000 jobs, nearly 4% of its staff.
- 123jump.com Staff
- 03 Dec, 2008
- New York City
Vehicle sales decline accelerated in November as more customers avoided purchase of automobiles. Total vehicles sales plunged 37%. Honda, Hyundai and Kia were the few auto companies where passenger car sales rose in the first eleven months. BMW Mini continues to increase sales.
- 123jump.com Staff
- 03 Dec, 2008
- New York City
U.S. stocks closed higher in volatile trading on a rise in holiday Internet sales and an increase in mortgage applications. Amazon.com surged nearly 10%. Auto makers are threatening that they will run out of cash soon. Australia third quarter GDP growth rate fell. Japan considers stimulus package.
- Mayank Mehta
- 03 Dec, 2008
- New York City
Freeport McMoran eliminated dividend and stock fell 20%. Research in Motion gained on 65% rise in revenues. Del Monte Foods rose 18% on revenue rise of 11.5%. General Electric rose after it tightened its earnings near low end of its forecast and confirmed the dividend. Constellation Energy up 12%.
- 123jump.com Staff
- 03 Dec, 2008
- New York City
Cognizant Technology third quarter increased 31% to $734.7 million from a year ago. Net income was $112.8 million or $0.38 per diluted share compared to $96.2 million or $0.32 per share. The company estimates fourth quarter earnings of 45 cents a share.
- 123jump.com Staff
- 03 Dec, 2008
- New York City
Stocks in Mumbai closed up in a volatile session. India is exploring cross border military or commando raid to eliminate terrorist camps if Pakistan fails to reign in on outlawed groups. Terrorists are using Karachi to finance their operations. SEBI extended margin facility to all investors.
- 123jump.com Staff
- 03 Dec, 2008
- New York City
Australian third quarter GDP growth fell to 0.1% and non-farm sector growth declined 0.3%. Weak exports and falling domestic demand weakened the service and construction sector. Babcock & Brown received A$150 million in emergency funding from a syndicate of banks.
- 123jump.com Staff
- 03 Dec, 2008
- New York City
China stock indexes gained on a rise in telecom and financial stocks. Telecoms advanced on the hopes that 3G licenses will be allocated before the end of the year. Bank of America increased its stake in China Construction Bank. Property stocks declined on a rise in mortgage rates.
- Darlington Musarurwa
- 03 Dec, 2008
- New York City
Japan government is likely to provide additional 100 trillion yen economic stimulus package. The falling exports and weak domestic economy has dragged economy in Japan to recessionary conditions. Toyota will cut bonuses for senior staff but not for top executives.
- 123jump.com Staff
- 03 Dec, 2008
- New York City
U.S. stocks came under pressure after service index in November declined to 11-year low. The service industry is shrinking as consumers curtail spending, businesses lay off people and banks tighten lending. Separately private survey tracking jobs in private sector showed job loss of 250,000.