Research in Motion (RIM), developer of the BlackBerry smartphone, posted results for its fiscal quarter ended May 30, 2009 that were 33% higher than Q01 2008/2009. RIM boosted earnings per share to US$1.12 from US$0.84 yoy. The company continues to focus on innovation as it competes with Apple Inc’s iPhone and Palm Inc’s Pre. This [...]
UK Retail Sales slid in May, after the Governor of the Bank of England hinted that the recovery could be slow as banks keep a tight grip on credit. Sales fell 0.6% compared with April data, disappointing economists who forecasted a jump of 0.3%. When compared to May 2008, an especially strong month, the decrease [...]
The J.M. Smucker Company, popular maker of jams and jellies, continues to benefit from its acquisition of Folger’s coffee last year. Yesterday, the company released results showing its fiscal fourth quarter profit more than doubled to US$94.3M or US$0.8 per share for the quarter ended April 30, 2009 (up from US$37.1M a year ago). The [...]
Chairman of Stanford Financial Group, Allen Stanford Surrenders to FBI, to Appear in US Court Today 27 European Union Heads of State and Government Say End of Recession is Approaching, Making Additional Stimulus Unnecessary in a Draft Statement at Todayfs Summit in Brussels The International Monetary Fund (IMF) to Likely Boost its 2010 Growth Forecast [...]
Rising oil prices and extremely difficult economic conditions will continue to take a toll on package delivery giant Fedex Corp. Yesterday it announced that its loss widened to US$876M or US$2.82 per share for its fourth quarter ended May 31, 2009. The company followed its quarterly update with an even greater blow, reporting that it [...]
Four of the largest U.S. banks can give themselves pats on the back after repaying the TARP money that was loaned to them by the U.S. Government in order to make it through troubling times. The pay backs were as follows: JPMorgan, Chase & Co. – US$25B Morgan Stanley – US$10B Bancorp – US$6.6B BB&T [...]
World Bank Upgrades China’s 2009 Growth Forecast to 7.2%, Says Stimulus Sufficient AIG Chooses Deutsche Bank, Morgan Stanley as Joint Coordinators for USD 4B IPO of Asian Life Insurance Unit British Chamber of Commerce Sees 3.8% Contraction in UK Economy This Year, Separate Report Shows Retail Sales Fell 0.6% in May Over April Swiss National [...]
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Tagged aig, British Chamber of Commerce, China Eastern Airlines, China Growth, Deutsche Bank, Morgan Stanley, Overnight Market News, Overnight Markets, Swiss National Bank, Winnebago Industries, World Bank
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Obama to Detail Financial Regulations Reform Plan, Creation of New Watch Dog Agency Expected UK Jobless Rate Rise to 7.2% the Highest Since July 1997, Still less than Economist Forecasts Japan’s Government and Central Bank Raises Evaluation of the Economy for Second Month After Exports Improve and Industrial Production Advance at the Fastest Pace in [...]
Best Buy Co. Inc disappointed investors after unveiling profits that were weak compared to expectations. Earnings Per Share fell to US$0.36 in the fiscal first quarter through May, compared with US$0.42 YOY. The company said that it was able to increase its footing in the consumer electronics market following the closure of its main competitor, [...]
German Investor Confidence rose for the 8th straight month in June. The ZEW institute’s economic sentiment index increased to 44.8 points from 31.1 points in May, the highest increase since May 2006. Analysts had predicted a gain to 37 points in the country which is battling its worst slump since World War II. The index [...]