- 123jump.com Staff
- 25 Sep, 2008
- New York City
Stocks in Australia fell after commodities and metal prices declined. Australian banks have less than 1% exposure to the sub-prime loans issued in the country, according to the latest report from the RBA. Australian dollar gained. China based Shagan acquired 45% stake in Australian iron ore company.
- 123jump.com Staff
- 25 Sep, 2008
- New York City
Stocks in Shanghai rose as China controlled investment arm stepped up its purchase of bank stocks. Bank of East Asia in Hong Kong faced a temporary run after rumors of collapse swept markets. Central bank denied the rumors and added HK$500 million in liquidity and Li Ka-shing purchased its stock.
- 123jump.com Staff
- 25 Sep, 2008
- New York City
Japan recorded its first monthly trade deficit in 26 years. Rising energy and coal imports and a decline in exports to the U.S. and Europe contributed to the deficit. The Bank of Japan added liquidity to the market and will carry out four more auctions in the rest of the year.
- 123jump.com Staff
- 25 Sep, 2008
- New York City
Stocks in India fell after financial markets in the region declined. Financials, realty, software exporters and industrials fell. Inflation at the end of last week stabilized but hovered near its peak level. Rupee traded volatile and hovered near 46 rupee to a dollar.
- 123jump.com Staff
- 25 Sep, 2008
- New York City
Capital One drops after it completed stock offering at a lower price. Bed Bath & Beyond matched the earnings views but predicted lower earnings for the quarter and the rest of the year. General Electric lowered its earnings outlook. McCormick edged higher after third quarter earnings rose.
- 123jump.com Staff
- 25 Sep, 2008
- New York City
General Electric lowered its earnings outlook for the quarter and the year and said the current difficult conditions in the financial services business are not likely to improve in the near future. The company left its dividend unchanged and suspended its stock buyback plan.
- 123jump.com Staff
- 24 Sep, 2008
- New York City
U.S. lawmakers voiced more skepticism and frustration with the Treasury and the Fed plan to bailout banks. The U.S. lawmakers also passed $25 billion rescue package for the auto industry. AIG fell sharply after it signed punitive loan terms with the Fed.
- 123jump.com Staff
- 24 Sep, 2008
- New York City
Stocks in HK and Shanghai rose as financial staged a mild rebound after China stepped up purchase of bank stocks. However, inflation and global slowdown worries persisted in China trading. HK reported second quarter balance of payment surplus of HK$10.3 billion. Yili drops 10% for the second day.
- 123jump.com Staff
- 24 Sep, 2008
- New York City
Stocks in Australia rose after financial stocks in the region rose and the benchmark index added 1.2%. The IMF lowered its growth estimate for Australia to 2.7% in the current year. The U.S Federal Reserve offered $10 billion credit swap lines in the U.S. dollar to ease liquidity.
- 123jump.com Staff
- 24 Sep, 2008
- New York City
The French state controlled nuclear utility company agreed to acquire British Energy for
- 123jump.com Staff
- 24 Sep, 2008
- New York City
Civilian nuclear deal between the U.S. and India was approved by the U.S. Senate panel and will be put for a vote on the U.S. Senate. The number of mobile telecom users in India cross 300 million after the country adds more than 9 million users in August.
- 123jump.com Staff
- 24 Sep, 2008
- New York City
Sumitomo Mitsubishi will invest as much as 100 billion yen or $1 billion in Goldman Sachs after Warren Buffett agreed to invest $5 billion in the recently converted bank. Taro Aso is elected as the fourth prime minister in less than two years in Japan but elections are likely in less a year.
- 123jump.com Staff
- 24 Sep, 2008
- New York City
U.S. stocks trade sideways in the morning as financials got a boost after Warren Buffett purchased $5 billion preferred stock. AIG signed $85 billion loan that pays interest even when the credit facility is not used. The Fed offered $30 billion of liquidity to Australia, Norway, Sweden and Denmark.
- 123jump.com Staff
- 23 Sep, 2008
- New York City
Warren Buffett agreed to invest $5 billion in preferred stock with 10% dividend in Goldman Sachs. Goldman Sachs recently elected to convert itself into a bank supervised by the Federal Reserve. Goldman Sachs stock in the after hours rose 8% after the deal.
- 123jump.com Staff
- 23 Sep, 2008
- New York City
UK investors are increasingly worried about the global economic health and its impact on the UK traded companies. Financials declined as the U.S. lawmakers debated the size and nature of the bailout plan. Metal and crude oil prices dropped and dragged down mining companies.