- 123jump.com Staff
- 21 Oct, 2008
- New York City
The Bank of Canada lowered its key lending rate 25 basis points to 2.25% for overnight lending. The second cut in rate this month follows the previous rate cut of 50 basis points on October 8. The central bank also lowered the economic growth rate to 0.6% for this and next year but not a recession.
- 123jump.com Staff
- 20 Oct, 2008
- New York City
The company lowered its headcount by 5% in the first nine months of the year. The quarterly breakeven rate will decline from $115 million in 2008 to $95 million in 2009. In the third qurter the investment bank reported $72.7 million in revenue and $21.7 million in pre-tax loss.
- 123jump.com Staff
- 20 Oct, 2008
- New York City
For the first nine months economic growth in China eased to 9.9% from 12.2% in the prior year peorid and consumer prices in September rose 4.6%. China trade surplus at the end of first three quarters of this year rose to $181 billion, a decline by $4.7 billion.
- 123jump.com Staff
- 20 Oct, 2008
- New York City
Australian stocks surged 4% after money market rates declined and crude oil and metals prices gained. Producer price index for three months ending in September rose 2%. Australian dollar gained 1.5% against one U.S. dollar.
- 123jump.com Staff
- 20 Oct, 2008
- New York City
U.S. stocks surged nearly 5% after the talks of second stimulus package was endorsed by the Fed chairman. Crude oil rebounded ahead of Opec meeting. Brazil surged 8% and Canada soared 7%. In Europe, UK surged 5% on a rise in commmodities and energy prices. ING Group rebounded 20%.
- 123jump.com Staff
- 20 Oct, 2008
- New York City
The UK first half budget deficit rises to
- 123jump.com Staff
- 20 Oct, 2008
- New York City
Stocks in Japan rose on the hopes that the earnings for the latest quarter will be better than expected. Panasonic operating profit is likely to be higher than expected and steel makers are expected to revise earnings higher for the year. Exporters may benefit from weaker yen.
- 123jump.com Staff
- 20 Oct, 2008
- New York City
Rupee dropped to 49 to a dollar, record in the last eight years. In addition, the RBI lowered the rate full percentage point to 8% to improve liquidity in the short term lending market. Software exporters gained on a fall in rupee and realty stocks rose on a decline in interest rates.
- 123jump.com Staff
- 20 Oct, 2008
- New York City
Intel third quarter revenue rose 8% from the previous quarter to $10.2 billion. Nearly 45% of total revenue was related to notebooks and other mobile devices. Gross margin in the quarter rose 58.9%, higher than a year ago and in the second quarter. Cash flow from operations was $3 billion.
- 123jump.com Staff
- 20 Oct, 2008
- New York City
The financial services company reported third quarter revenue decline of 28% from a year ago and 8% fall from the second quarter. The company lost $2.8 billion or 60 cents per share in the quarter. Citi recorded nearly $10 billion in charges related to consumer lending and mortgage securities.
- 123jump.com Staff
- 20 Oct, 2008
- New York City
Eaton and Halliburton rose after reporting better than expected earnings. Hasbro dropped 4% after net income in the quarter dropped 14% from a year ago. Landrys surged 29% after the company agreed to an amended offer to sell to its chief executive. Mattel net income in the quarter was flat.
- 123jump.com Staff
- 20 Oct, 2008
- New York City
U.S. stocks rose after interbank lending rates dropped. Quarterly earnings from Halliburton and Eaton rose. Crude oil edged above $74 a barrel. Financial stocks rose after Fed chairman Bernanke endorsed a second stimulus package. NRG surged after Exelon offered 37% premium.
- 123jump.com Staff
- 20 Oct, 2008
- New York City
ING Group, the Dutch insurance giant is forced to accept
- 123jump.com Staff
- 19 Oct, 2008
- New York City
JPMorgan Chase anticipated fourth quarter earnings benefit of between 10 and 12 cents from WaMu purchase and 50 cents additional earnings for 2009. The company increased loan loss reserves in the quarter by $1.3 billion to a total of $15.3 billion. Home equity originations are down 77%.
- 123jump.com Staff
- 19 Oct, 2008
- New York City
PepsiCo revenue rose 20% to $11.24 billion from a year ago. The company expects operating cash flow of $7.3 billion and capital expenditures of $2.5 billion. The company repurchased through the end of the third quarter $4.2 billion of shares. The domestic beverage business continues to struggle.