After being bailed out with EUR 11B in emergency funds from the Dutch Government in October 2008, financial company ING Groep NV has been forced to restructure its business model. ING Groep NV announced yesterday that as a part of an agreement with the European Commission to pay back its state aid early, the Bank [...]
Amazon.Com Inc shares rallied for a second-straight day, after posting top-notch results for the third quarter on strong sales of its Kindle electronic reader. Third quarter profit blew past analysts’ average forecast of US$0.33 a share, rising 69% to US$199M (Or US$0.45 a share). Following the results, Amazon shares received upgrades at a number of [...]
BP Plc Third Quarter Profit Declines 47% to USD 4.67B, But Tops Analysts’ Expectations by USD 1.42B India’s Central Bank to Begin Withdrawing Stimulus Measures on Mounting Inflationary Pressure China’s Leading Search Engine Company, Baidu Inc Third Quarter Net Income Surges 42% to USD 2.07 per Share, But Revenue Outlook Falls Short of Expectations Honda [...]
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Tagged Australia Business Confidence, Baidu, Baidu Net Income, BP Plc Profit, Canon Net Income, Honda Motor Co, Honda Profit, India Inflation, India Stimulus Measures, Overnight Market News, Overnight Markets
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ING Groep NV to Raise USD 11.3B in Rights Offering and Sell Insurance Businesses to Repay Government Debt Commercial Real Estate Company, Capmark Financial Group Inc Files for Bankruptcy Protection Electrolux AB Posts 93% Rise in Third-Quarter Net Profit to USD 236mm on Cost-Reduction Petroleo Brasiliero SA Sells USD 4B in 10-Year and 30-Year Bonds [...]
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Tagged Capmark Financial Group, Capmark Financial Group Bankruptcy, Electrolux AB, Electrolux AB Profit, ING Groep NV, Lloyd’s Banking Group, Lloyd’s Banking Group Rights Issue, Overnight Market News, Overnight Markets, Petroleo Brasiliero, Petroleo Brasiliero Bonds, South Korea’s Economy
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Despite hopes for an end to the recession, the United Kingdom Office of National Statistics reported yesterday that the UK economy fell into recession for a sixth straight quarter, making it the longest downturn on record. The UK’s third quarter domestic Gross Domestic Product (GDP) declined by 0.4% from the previous quarter, thwarting hope for [...]
A day after launching its long-awaited Windows 7 operating system, Microsoft Corp created quite a stir amongst investors after releasing its first quarter results yesterday. Microsoft, the world’s biggest software maker, stunned analysts by reporting a smaller than expected fall-off in profit to US$3.57B or US$0.40 per share, compared with US$4.37B or US$0.48 per share [...]
UK Gross Domestic Product (GDP) Unexpectedly Declines for Sixth Consecutive Quarter in Q03 2009 by 0.4% from Previous Quarter, Making the Recession the Longest on Record Amazon.com Inc Third Quarter Profit Trumps Analysts’ Estimates by Jumping 69% to USD to USD 199mm or USD 0.45 per Share, Up From USD 118mm or USD 0.27 per [...]
After Amgen Inc. posted earnings that beat expectations, the U.S. Food & Drug Administration (FDA) quickly put a stop to the celebration, delaying the approval of its next potential best-seller – Prolia. The FDA requested that further testing be conducted on the drug Prolia, before it could approve the drug for treating bone loss. It [...]
McDonald’s Corp is surely singing its tag phrase “I’m Loving It”, after its third quarter profit topped analysts’ expectations. McDonald’s earnings soared 5.9% to US$1.26B or US$1.15 per share, up from US$1.19B or US$1.05 per share a year earlier. McDonald’s profits were aided by the launch of its new products and promotions which helped to [...]
China’s Q03 2009 Gross Domestic Product Expands 8.9% Year-Over-Year (yoy) on Stimulus Spending and Lending Growth Bank of America Corp Agrees to Sell First Republic Bank to Investor Group Led by General Atlantic LLC and Colony Capital LLC for Over USD 1B Insurance Giant, The Travelers Cos Third Quarter Net Income More than Quadruples to [...]