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Lufthansa to buy stake in JetBlue
Dec 13 - CHICAGO (Reuters) - Deutsche Lufthansa AG (LHAG.DE: Quote, Profile, Research), Germany's national flag-carrier, will buy a 19 percent stake in low-cost U.S. airline JetBlue Airways Corp (JBLU.O: Quote, Profile, Research) in a deal worth about $300 million, the two airlines said on Thursday.
Reuters.com
European stocks slide with banks, miners in lead
Dec 13 - FRANKFURT, Dec 13 (Reuters) - European stocks fell sharply on Thursday, led by financials on fears that banks may not yet have unveiled the full impact of the credit crisis on their books, and with miners hit by lower base metal prices.
Reuters.com
Citigroup names Pandit CEO
Dec 11 - NEW YORK (Reuters) - Citigroup Inc (C.N: Quote, Profile, Research) on Tuesday named Vikram Pandit, head of its institutional clients group, as chief executive and said Win Bischoff would serve as nonexecutive chairman, effective immediately.
Reuters.com
GE sees 2008 profit up at least 10 percent
Dec 11 - BOSTON (Reuters) - General Electric Co (GE.N: Quote, Profile, Research) expects profit to rise at least 10 percent in 2008, led its infrastructure business, even with a slowing U.S. economy, Chairman and Chief Executive Jeff Immelt said on Tuesday.
Reuters.com
Wall Street flies on mortgage plan
Dec 6 - NEW YORK (Reuters) - Stocks surged on Thursday on optimism that a plan announced by President George W. Bush to stem U.S. home foreclosures would keep the economy from sliding into a recession.
Reuters.com
Palm warns of loss; sparks holiday sales worries
Dec 6 - NEW YORK (Reuters) - Palm Inc (PALM.O: Quote, Profile, Research) warned on Thursday that it will post a loss for the quarter ended November 30 as revenue fell short due to a product delay, driving the company's shares down 16.5 percent.
Reuters.com
World powers move towards new Iran sanctions
Dec. 1 - PARIS (Reuters) - World powers held a "positive" meeting on Saturday aimed at agreeing more U.N. sanctions against Iran over its nuclear program and a deal on punitive measures could be reached within weeks, a French diplomat said.
Reuters.com<
Citi sees strong growth in Taiwan business in 2008
Dec. 1 - TAIPEI (Reuters) - Citigroup (C.N: Quote, Profile, Research) said on Saturday it sees strong growth in its Taiwan banking business in 2008 after it completed a $427 million acquisition of a local lender.
Reuters.com<
Bernanke says financial strains dimming outlook
Nov. 29 - WASHINGTON (Reuters) - Federal Reserve Chairman Ben Bernanke said on Thursday a resurgence in financial strains in recent weeks had dimmed the outlook for the U.S. economy, signaling an openness to lowering interest rates again. Reuters.com<
Dell profit rises, outlook cautious
Nov. 29 - SAN FRANCISCO (Reuters) - Dell Inc (DELL.O: Quote, Profile, Research) warned on Thursday that the costs of restructuring and investment could "adversely impact" its performance, sending shares of the world's second-largest personal computer maker down 8 percent. Reuters.com<
E*Trade gets $2.55 billion Citadel cash infusion
Nov. 29 - NEW YORK (Reuters) - E*Trade Financial Corp (ETFC.O: Quote, Profile, Research) is getting a $2.55 billion cash infusion from investors led by Citadel Investment Group, which is also buying the mortgage-related securities portfolio that has been the primary source of the discount brokerage's recent woes. Reuters.com<
Citi to sell $7.5 billion stake to Abu Dhabi
Nov. 27 - NEW YORK (Reuters) - Citigroup (C.N: Quote, Profile, Research) is selling a $7.5 billion stake to the investment arm of the Abu Dhabi government, giving the largest U.S. bank fresh capital as it wrestles with the subprime mortgage crisis and the resignation of its chief executive. Reuters.com<
Goldman cuts growth outlook, sees lower rates
Nov. 27 - NEW YORK (Reuters) - Goldman Sachs (GS.N: Quote, Profile, Research) on Tuesday slashed its target for the expected trough in U.S. benchmark interest rates by a full percentage point, citing an increased probability of recession and the likelihood of a prolonged period of sluggish performance for the U.S. economy. Reuters.com<
Airbus workers dispute weak dollar threatens company
Nov. 22 - FRANKFURT (Reuters) - The workers' council at European aircraft manufacturer Airbus disputed remarks made by management on Thursday that the weak U.S. dollar threatened the company's survival, according to the Berliner Zeitung newspaper. Reuters.com
Air France KLM profit tops forecasts, shares soar
Nov. 22 - PARIS (Reuters) - Air France KLM (AIRF.PA: Quote, Profile, Research), the world's biggest airline by revenues, posted a stronger-than-expected 28 percent jump in quarterly profit on Thursday, lifting its shares nearly 12 percent. Reuters.com
Fed minutes show Oct rate cut was "close call"
Nov. 20 - WASHINGTON (Reuters) - The Federal Reserve was unsure last month whether lower borrowing costs were needed to cushion the U.S. economy from a housing slump and credit market woes but, in a "close call," decided to cut interest rates as an insurance policy, minutes of the meeting released on Tuesday show. Reuters.com
Countrywide shares go on wild ride
Nov. 20 - NEW YORK (Reuters) - Countrywide Financial Corp shares plummeted as much as 22 percent on Tuesday on speculation the largest U.S. mortgage lender might run short of cash, but recovered most of that loss after the company said it has ample liquidity and will not go bankrupt. Reuters.com
Iran says ready to act if attacked
Nov. 17 - MANAMA (Reuters) - President Mahmoud Ahmadinejad said on Saturday Iran was ready to respond if attacked, but played down the prospect of war with the United States. Reuters.com
Wall St ends higher on tech in choppy day
Nov. 16 - NEW YORK (Reuters) - U.S. stocks rose on Friday after a day of sharp price swings, helping the S&P 500 narrowly avert a third straight week of losses as bargain-hunting lifted the beaten-down technology sector while shares of oil companies advanced on buoyant crude prices. Reuters.com
Asian shares tumbled on Friday VIDEO
Nov. 16 -(Reuters) Asian shares tumbled on Friday with investors growing increasingly nervous about the state of the U.S. economy.Hong Kong shares were badly hit by expectations for further interest rate hikes in China, which posted decade high inflation numbers this week.Japan's benchmark Nikkei index is hovering around 15 month lows. Reuters.com
| NOV. 16 - WORLD DAILY MARKETS BRIEFS |
 US Stocks
NEW YORK - Stocks rose in early trading Friday as investors searched for bargains following a three-week losing streak.Concerns about consumer spending and the still unfolding global credit crisis has driven some well-known stocks - especially in the financial services sector -- to lows for the year.
 Europe
In Europe, utilities were in high demand throughout a relatively volatile session. ""In a shaky session such as today, traders turn to utilities as a safe-heaven. It's a flight towards quality with utilities usually sporting rather low-risk business models," one Frankfurt-based trader said.
 Asia
The Hang Seng closed down 1,136.78 points or 4 pct to 27,614.43 with banks and property companies leading the decline."The market will remain in a consolidation mode today as overseas markets drag down sentiment," said Francis Lun, general manager at Fulbright Securities. "Trading is likely [to be] rangebound as investors remain cautious while they await statements regarding the outlook [for] interest rates."
 Forex
The dollar had earlier benefited from the heightened risk aversion on global markets, and this afternoon's Treasury International Capital data may determine whether the dollar can regain its strengthening bias.
 Metals
At 1.55 pm, spot gold was trading down at 796.70 usd per ounce against 813.00 usd in late New York trade yesterday. On November 7, gold fetched 845.58 usd an ounce, its highest value since hitting a record 850 usd an ounce in January 1980.
Thomson Financial News Supplied by advfn.com
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| NOV. 15 - WORLD DAILY MARKETS BRIEFS |
US Stocks
The government's Consumer Price Index rose 0.3 percent in October on high energy and foods costs, in line with September's increase and analysts' forecast. Investors are concerned that rising inflation -especially due to higher fuel prices - could move consumers to cut back their overall spending and also prevent the Federal Reserve from lowering interest rates further in the coming months.
Europe
In the UK, Cable & Wireless gained 2.16 pct amid vague rumours that France Telecom is casting an acquisitive eye over the UK group, although traders were sceptical. Meanwhile, Tele Atlas fell 4.98 pct after rumours emerged that Garmin may withdraw its bid for the group as TomTom and Garmin settle a patent infringement case.
Asia
SINGAPORE - Stock markets across Asia fell Thursday with Hong Kong leading the decline as a weak performance on Wall Street encouraged investors to lock in gains after Wednesday's 1,300-point rally by the Hang Seng. The Hang Seng ended down 1.4 pct at 28,751.21, led by property and Chinese stocks.The Nikkei closed down 0.7 pct at 15,396.30, surrendering early gains as a rally among financials fizzled out.
Forex
LONDON - The dollar was marginally firmer as the market awaited key US inflation data this afternoon, while the pound remained close to four-year lows against the euro on expectations that the Bank of England will cut interest rates.
Metals
At 1.55 pm, spot gold was trading down at 796.70 usd per ounce against 813.00 usd in late New York trade yesterday. On November 7, gold fetched 845.58 usd an ounce, its highest value since hitting a record 850 usd an ounce in January 1980.
Thomson Financial News Supplied by advfn.com
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| NOV. 12 - WORLD DAILY MARKETS BRIEFS |
US Stocks
NEW YORK - Stocks rose tentatively Monday as investors moved back into banking stocks but were still appeared cautious, expecting more fallout from the ongoing credit crisis.The market was waiting to see if there would be more announcements from financial companies of write-downs of mortgage-backed securities and other debt instruments that have plunged in value since the summer.
Europe
LONDON - Leading European shares traded flat as a rebound in the banking sector was offset by falling oil and gas stocks fuelled by a drop in crude, with EADS a notable outperformer after its Airbus unit lifted the sales forecast for its A350 XWB plane.
Asia
SINGAPORE - Stock markets across Asia tumbled Monday, with the Nikkei slumping to an almost 16-month low as the yen's rapid appreciation against the dollar weighed on exporters while fresh disclosures ofsubprime-related losses at US banks pressured financials.
Forex
LONDON - The yen was buoyant across the board as carry trades were trimmed back on rising risk aversion.The dollar dropped to a low of 109.26 yen, its lowest level for a year and a half, while the euro fell below 160 yen for the first time in nearly two months.
Metals
LONDON - Gold fell below 830 as the dollar clawed back some of its losses against major currencies and as slightly lower oil prices softened the threat of inflation.
Thomson Financial News Supplied by advfn.com
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Nikkei wipes out 2007 gains
NOV 12 - SINGAPORE (Reuters) - Asian stocks sank on Monday with Tokyo's Nikkei hitting its lowest level in about 15 months as investors dumped Japanese exporters on the back of a surge in the yen to an 18-month high versus the dollar. Reuters.com
E*Trade sinks 59 pct on losses and bankruptcy fear.
NEW YORK (Reuters) - Shares in E*Trade Financial Corp sank 59 percent to a five-year low on Monday after an analyst said mounting credit losses may prompt customers to yank deposits and could put the online brokerage at risk of bankruptcy. Reuters.com
IBM to buy Cognos for $5 billion
NOV 12 - BOSTON (Reuters) - IBM said on Monday it would buy Canada's Cognos Inc for $5 billion, snapping up the last major independent maker of business intelligence software. Reuters.com
| NOV. 12 - WORLD DAILY MARKETS BRIEFS |
US Stocks
NEW YORK - Stocks rose tentatively Monday as investors moved back into banking stocks but were still appeared cautious, expecting more fallout from the ongoing credit crisis.The market was waiting to see if there would be more announcements from financial companies of write-downs of mortgage-backed securities and other debt instruments that have plunged in value since the summer.
Europe
LONDON - Leading European shares traded flat as a rebound in the banking sector was offset by falling oil and gas stocks fuelled by a drop in crude, with EADS a notable outperformer after its Airbus unit lifted the sales forecast for its A350 XWB plane.
Asia
SINGAPORE - Stock markets across Asia tumbled Monday, with the Nikkei slumping to an almost 16-month low as the yen's rapid appreciation against the dollar weighed on exporters while fresh disclosures ofsubprime-related losses at US banks pressured financials.
Forex
LONDON - The yen was buoyant across the board as carry trades were trimmed back on rising risk aversion.The dollar dropped to a low of 109.26 yen, its lowest level for a year and a half, while the euro fell below 160 yen for the first time in nearly two months.
Metals
LONDON - Gold fell below 830 as the dollar clawed back some of its losses against major currencies and as slightly lower oil prices softened the threat of inflation.
Thomson Financial News Supplied by advfn.com
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Nikkei wipes out 2007 gains
NOV 12 - SINGAPORE (Reuters) - Asian stocks sank on Monday with Tokyo's Nikkei hitting its lowest level in about 15 months as investors dumped Japanese exporters on the back of a surge in the yen to an 18-month high versus the dollar. Reuters.com
Wall Street sinks for third day
NOV 10 - NEW YORK (Reuters) - Stocks fell for a third session on Friday after a disappointing outlook from Qualcomm Inc triggered more weakness in technology shares and helped send the Nasdaq down to its biggest weekly point loss since the September 11, 2001, attacks. Reuters.com
UPS to hike delivery charges by 4.9 percen
NOV 10 - BOSTON (Reuters) - Package delivery company United Parcel Service Inc said on Friday it was raising its prices for 2008 by about 4.9 percent, matching a planned hike by rival FedEx Corp Reuters.com
| NOV. 8 - WORLD DAILY MARKETS BRIEFS |
 US Stocks
NEW YORK (AP) - Stocks extended their losses Thursday, a day after tumbling amid concerns about continuing credit woes, a weakening dollar and rising oil prices.Some investors hunted for bargains in the first minutes of trading, but the gains soon evaporated.
 Europe
Europe's leading exchanges were off lows in midday trading with earnings news form the likes of Siemens and EADS providing some excitement and as Wall Street is set to recover some of the losses seen yesterday.
 Asia
Stock markets across Asia tumbled Thursday, sending major indices down more than 2.5 pct, after Wall Street suffered its fifth-biggest point decline of the year as the dollar hit fresh record lows against the euro and GM reported its biggest-ever quarterly loss.
 Forex
The euro was stable against the dollar after the European Central Bank left its interest rates on hold at 4.00 pct. - The pound rose in relief, briefly setting a fresh 26-year high, after the Bank of England left interest rates on hold for the fourth month running.
 Metals
Copper prices continued lower in early London trade, as rising inventories of the red metal heightened fears of slowing demand during the current uncertain economic climate.
Thomson Financial News Supplied by advfn.com
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Wall Street sinks for third day
NOV 9 - NEW YORK (Reuters) - Stocks fell for a third session on Friday after a disappointing outlook from Qualcomm Inc triggered more weakness in technology shares and helped send the Nasdaq down to its biggest weekly point loss since the September 11, 2001, attacks. Reuters.com
Disney profit rises on theme parks, TV networks
NOV 8 - LOS ANGELES (Reuters) - Walt Disney Co reported on Thursday a 12 percent rise in quarterly profit, driven by its television networks and U.S. theme parks, but revenue slightly missed Wall Street's target. Reuters.com
| NOV. 2 - WORLD DAILY MARKETS BRIEFS |
US Stocks
Wall Street waffled Friday after a surprisingly strong October jobs report failed to alleviate escalating worries about the beleaguered financial sector.The Labor Department said employers added 166,000 jobs to their payrolls in October, the most since May.
Europe
Europe's leading exchanges extended prior-session losses midday led by a steep fall in banking stocks on ongoing credit concerns and a pullback in the mining and metals sector on global growth worries.
Asia
Japan's Nikkei stock average fell 2.09 percent, while Hong Kong's Hang Seng index fell 3.25 percent.Indian shares ended higher as heavy buying in blue-chip shares during the last hour of trade pulled up the key index which was dragging its feet at levels over 450 points in the red.
Forex
Even forecast-beating US job creation figures could not prevent the dollar from sinking to a new low against the euro, at 1.4525 usd, reflecting just how weak sentiment on the currency remains.
Metals
Copper edged higher in early afternoon trade after the release of stronger-than-expected US payrolls numbers for October, as investors holding short positions -- or bets that prices will fall -- scrambled
to cover their positions.
Thomson Financial News Supplied by advfn.com
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BANKING & FINANCIAL
Stocks Seek Signal on Economy's Health
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BANKING & FINANCIAL Citigroup CEO Reportedly Resigns
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Stocks Seek Signal on Economy's Health
NEW YORK (AP) -- Wall Street's in the dark about a lot of things -- how much risky debt banks are holding, how the Federal Reserve plans to keep the markets running smoothly, and whether the strong parts of the economy will stay strong.
AP
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CITIGROUP INC
NEW YORK (AP) -- Citigroup Inc. Chairman and Chief Executive Charles Prince, beset by the banking company's billions of dollars in losses from investing in bad debt, reportedly agreed to resign Sunday, and was being replaced as chairman by former Treasury Secretary Robert Rubin.
AP
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TECHNOLOGY: PCs being pushed aside in Japan
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TECHNOLOGY: Google opens doors to social networking |
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TOKYO - The PC's role in Japanese homes is diminishing, as its once-awesome monopoly on processing power is encroached by gadgets such as smart phones that act like pocket-size computers, advanced Internet-connected game consoles, and digital video recorders.
AP
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GOOGLE INC
NEW YORK (Reuters) - Google Inc will offer Internet developers an open system to create applications across Web sites, a move that could challenge the features behind the explosive popularity of social network Facebook.
Reuters.com
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| OCT. 31 - WORLD DAILY MARKETS BRIEFS |
US Stocks
US Stocks rose Wednesday as investors awaited the results of the Federal Reserve's two-day meeting on interest rates and cheered a better than expected reading on third-quarter growth.
Europe
Europe's leading exchanges gained ground midday, boosted largely by individual stocks, as investors trade cautiously ahead of today's US Federal Reserve rate decision.
Asia
Stock markets across Asia ended mixed Wednesday, with benchmarks in Australia, Singapore, Thailand, Philippines and Hong Kong little changed as investors marked time ahead of a US Federal Reserve decision on interest rates.
Forex
The dollar firmed slightly following the release of robust third quarter GDP figures. The US economy grew 3.9 pct year-on-year during the third quarter, above expectations for growth of 3.0 pct.
Metals
Gold gained in midday trade as the dollar continued to languish after plumbing fresh depths against the euro earlier, enhancing the precious metal's attractiveness as an alternative investment.
Thomson Financial News Supplied by advfn.com
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Octomber 24, 2007
BANKING & FINANCIAL Merrill writes down $7.9 bln of subprime bets
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BANKING & FINANCIAL Bear Stearns and CITIC set alliance
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MERRIL LYNCH & CO INC
Merrill Lynch & Co Inc reported on Wednesday the biggest quarterly loss in its history after writing down $8.4 billion, mostly from bad investments related to risky subprime mortgages.
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BEAR STERNS COS,
Bear Stearns Cos, a U.S. investment bank that has been battered by slumping mortgage markets, and China's CITIC Securities Co have agreed to swap stakes in each other and form a broad alliance, the firms said on Monday.
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Octomber 24, 2007
| TECHNOLOGY: Microsoft pays $240 million for Facebook stake |
TECHNOLOGY: Sony to launch cheaper PlayStation 3 |
MICROSOFT CORP
Microsoft Corp said on Wednesday it would pay $240 million for a minority equity stake in Facebook in a deal that values the social networking Web site at $15 billion.
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SONY CORP
Sony Corp will launch a cheaper model of its PlayStation 3 in the United States, hoping to attract more
buyers as it goes up against rival game consoles from Microsoft and Nintendo this holiday.
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Octomber 24, 2007
 Juniper net rises amid Internet traffic growth
Countrywide to modify up to $16 billion of mortgages
Wal-Mart's U.S. chief sees smaller stores
Qualcomm shuts down headquarters amid Calif. fires
Octomber 22, 2007
Qantas says orders 12 Bombardier Q400 planes
Halliburton third-quarter profit rises 19 percent
Permira to buy Japan's Arysta for $2.2 billion
EBay posts loss on charge, but auctions strengthen
WaMu profit sinks 72 pct, sees more housing slum
Octomber 19, 2007
JPMorgan net rises despite write-downs
Allstate posts lower net, misses estimates
Morgan Stanley to cut 300 jobs amid slowdow
Octomber 16, 2007
Credit crunch will weigh on U.S. growth: Greenspan
Pfizer, Sanofi, J&J may be among Biogen bidders
Genentech 3rd-quarter profit rises
Virgin Atlantic 747 to test biofuel in early 2008
Octomber 15, 2007
Mattel posts lower profit on recall charges
Nintendo market value tops 10 trillion yen on Wii
Octomber 13, 2007
Retail sales up more than expected
Oracle makes bid for BEA Systems
Ford, UAW may reach deal fairly quickly: analysts
McDonald's sees profit above estimates
BP to simplify management, cut costs
Octomber 11, 2007
WAL-MART- Wal-Mart ups quarterly view, Target misses forecast
Wal-Mart Stores Inc on Thursday reported September sales at U.S.
stores open at least a year toward the low end of its outlook,
but the world's largest retailer raised its
quarterly earnings estimate, citing lower expenses
September 27, 2007
FREDDIE MAC- Freddie Mac pays $50M to settle charges
Mortgage finance company Freddie Mac on Thursday agreed to pay $50 million to settle Securities and
Exchange Commission charges that it fraudulently misstated earnings over a four-year period.Four former Freddie
Mac executives settled negligent conduct charges by agreeing to pay a total of
$515,000 in civil fines and to make restitution totaling $275,548.
September 27, 2007
KB HOME- KB Home: Housing market slump to last
KB Home, one of the nation's largest homebuilders, swung to a loss Thursday, citing a deep
deterioration in the housing market and warning the sales slump will likely extend into next year."We expect
housing industry conditions to continue to worsen through the end of the year and into 2008,"
Said JeffreyMezger, KB's president and chief executive officer.
September 27, 2007
STOCKS RISE- Stocks rise after mixed economic data
Stocks extended their gains Thursday with a moderate advance as investors weighed fresh economic data,
including a sharp drop in new home sales, for clues to whether more interest rate cuts are in the offing.
The Commerce Department's report that sales of new homes plunged 8.3 percent in August to the lowest level in
seven years was the latest round of bad news for the housing sector, but its arrival didn't spook investors.
Instead, stocks built on the sizable gains logged Wednesday.
Instead, stocks built on the sizable gains logged Wednesday.
September 26, 2007
DURABLE GOODS- Durable goods orders plummet
Demand for big-ticket manufactured goods plunged in August by the largest amount in seven months,
with widespread weakness signaling a slowdown in the nation's industrial sector.
The Commerce Department reported Wednesday that orders for durable goods, everything from commercial jetliners
to home appliances, fell by 4.9 percent in August.
The biggest decline since a 6.1 percent fall in January.
September 26, 2007
CHEVRON- Chevron approves $15B buyback program
Chevron Corp., the second-largest U.S. oil company, said Wednesday its board approved a three-year, $15 billion share buyback program.
Chevron has already spent $15 billion over the past three years buying back common shares.
"We believe it is appropriate to continue to return cash to our stockholders through share repurchases," said Chairman and CEO Dave O'Reilly.
Under the program announced Wednesday, Chevron will make occasional acquisitions, subject to market conditions and other factors.
As of June 30, Chevron had about 2.13 billion shares outstanding.
September 26, 2007
GENERAL MOTORS- UAW, GM reach tentative agreement
The United Auto Workers and General Motors Corp. agreed Wednesday to a tentative contract that ends
a two-day national strike — the first against the automaker in 37 years —
and puts responsibility for retirees' health care into the union's hands.
September 25, 2007
GENERAL MOTORS- GM, UAW getting close to agreement
Negotiators bargained until the early hours Wednesday morning and were close to reaching a contract
agreement that would end a nationwide strike by 73,000 workers, two people who were briefed on the talks said.
The two sides began work Tuesday morning and were talking into the night in an effort to halt the strike,
Which started at 11 a.m. Monday at about 80 GM facilities across the country.
September 25, 2007
AMAZON- Amazon launches digital music store
Amazon.com Inc. launched its much-anticipated digital music store Tuesday, a move analysts say
represents the first hint of real competition for
Apple Inc.'s market-leading iTunes.
September 25, 2007
STOCKS- Stocks end mixed amid economic concerns
Stocks ended mixed Tuesday as investors grappled with concerns about consumer spending in some parts
of the economy while technology stocks showed broad gain Stocks pared losses from early in the session to trade
largely flat when investors tried to balance concerns about weakness in the economy with hopes that lackluster
indications about the health of the consumer and the housing market could bolster the case for lower interest
rates. Meanwhile, falling energy prices appeared to lend some support to stocks.
Meanwhile, falling energy prices appeared to lend some support to stocks.
September 25, 2007
ECONOMY- Economy sends off warning flares
Crumbling consumer confidence and slumping home sales could prove to be a bad combination for
retailers, and for the broader economy going into the holiday shopping season, if the labor market contracts
further and chokes off spending, economic data showed Tuesday.
But markets took some heart from the warning signs,
hoping that they would goad the Federal Reserve to lower interest rates more.
September 24, 2007
GENERAL MOTORSUAW says strike about saving jobs
In the end, the first nationwide strike against General Motors Corp. in 37 years came because the
United Auto Workers want something that GM will find difficult to promise: Job security.UAW officials said the
73,000 UAW members who work at about 80 U.S. facilities for the nation's largest automaker didn't strike Monday
over what many thought would trip up the talks: A plan to shift the retiree health care burden from the company
to the union.
They said they also didn't strike over wages.
September 24, 2007
STOCKS DOWN- Stocks give up early gains to end lower
Wall Street retreated Monday, taking a break from last week's big advances, as financial stocks fell
amid fresh concerns about tightness in the credit markets. With little fresh data to go on Monday, investor
enthusiasm weakened by midsession. Sectors from banks to homebuilders showed declines, while technology stocks
fared better.
Investors worried that the credit markets might not loosen up despite last week's half-point rate
cut by the Federal Reserve.
September 24, 2007
APPLE- Apple warns hacking iPhone may harm it
IPhone owners who have unlocked their handsets so they could use carriers other than AT&T Inc. may
end up with a phone that doesn't work after the company's next software update, Apple Inc. warned Monday.
Since the iPhone debuted in June, hackers have posted a number of methods online to make it possible to use the
iPhone on cellular networks other than AT&T, which is the exclusive official carrier for the iPhone.
Apple has sold more than 1 million iPhones since the product hit the market June 29.
September 24, 2007
MICROSOFT- Microsoft may buy Facebook stake
Setting the stage for a possible bidding battle, Microsoft Corp. is mulling an investment in Facebook
Inc. that would value the rapidly growing online hangout at $10 billion or more, according to a report published
Monday.Citing unnamed people familiar with the matter, The Wall Street Journal said Microsoft is holding
preliminary discussions that could culminate in a $300 million to $500 million in Facebook, a Palo Alto
social-networking
site founded just 3 1/2 years ago.
September 24, 2007
OIL BELOW $81- Oil below $81 as Gulf production resumes
Energy futures fell Monday after a tropical depression that moved through the Gulf of Mexico late last week
turned out to be a dud. "The storm dissipated over the weekend, and we're seeing production come back online," said Phil Flynn,
an analyst at Alaron Trading Corp. in Chicago.
But investors also tried to determine if oil futures' recent record-setting advance above $80 a barrel had run its course.
September 23, 2007
INVESTORS WATCH- Investors watch for more inflation signs
Last Tuesday, Wall Street got exactly what it was angling for: a half-point reduction in interest
rates. Now it wants to make sure rates will stay low.This week, investors will be looking for signs that inflation
is under control. If prices accelerate, the Federal Reserve may bump rates back up. The market is also hoping
that readings on durable goods demand, the housing market and consumer spending power will show that the economy isn't heading for recession.
The risk of inflation is why the Fed didn't cut rates for four years.
September 21, 2007
GREENSPAN- House prices to drop much lower: Greenspan
A big overhang of property will bring U.S. house prices down further, but it is too early to say if
the economy will plunge into recession, former Federal Reserve chief Alan Greenspan was quoted as saying on Friday.
Greenspan said in an interview with Austrian magazine Format that low interest rates in the past 15 years were
to blame for the house price bubble, but that central banks were powerless when they tried to bring it under control.
"So far, prices have dropped only slightly. .
September 21, 2007
SPRINT- Sprint stock up on sale rumors
Shares of Sprint Nextel Corp (S.N) rose over 3.5 percent on Friday as investors reacted to market
speculation the No. 3 U.S. mobile service could be sold to Britain's BT Group (BT.L), but analysts were skeptical.
Buyout rumors about Sprint have recently abounded as some investors bet its share price, depressed due to market
share losses,
could make it a sale prospect.
September 21, 2007
HSBC Plc- HSBC to close subprime unit.
Europe's biggest bank, said on Friday that it would close its U.S. subprime mortgage unit,
cutting 750 jobs and taking $945 million in charges and write-downs,
because the business is no longer sustainable.
September 21, 2007
US STOCKS- Dow, S&P best week since March.
STOCKS opened higher Friday as Wall Street, looking to resume this week's rally, drew confidence from
strong earnings from ORACLE Corp.
Dow, S&P best week since March
September 20, 2007
NIKE- Nike profit up 51 percent.
NIKE posted on Thursday a 51 percent rise in quarterly net profit, helped by a tax benefit and
a weak-dollar boost to revenue, and its shares rose 1.6 percent
RAISING REVENUE FORECAST
September 20, 2007
ORACLE- Oracle net up 25 percent.
ORACLE reported a 25 percent rise in quarterly profit on Thursday, boosted by higher-than-expected sales
of new software.
Click here for more details.
September 20, 2007
STOCKS DOWN-Inflation fears end rally.
Stocks fell on Thursday as a weakened dollar and a surge in oil prices, fresh concerns about
inflation, snuffing out a two-day rally that followed the deep interest-rate cut.
Initial optimism that the Fed's
aggressive move would keep the economy out of recession gave way to concerns about the inflationary impact of
a flagging dollar, which raises the cost of imported goods.
Click here for more details.
September 19, 2007
CRUDE OIL- Crude Oil could hit $100
Pickens said the price of crude oil could hit $100 a barrel by next year.
Still, he didn’t rule out a short-term pullback to $78 before then.
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