Solid earnings at Ford Motor Co. and others, sent the Dow Jones Industrial Average (DJIA) soaring above 9000 points in the early hours of trading yesterday. This marked the first time that the world’s best known stock market gauge had risen above the 9000 mark since January 2009.
Likewise, the Standard & Poor’s 500 Index (S&P [...]
In trading yesterday, the Dow Jones Industrial Average closed at 8339.01, down 200.72 points (2.35%) from the day’s start. Similarly, the Standard & Poor’s 500 Index slumped 2.6% to 893.04 points, following the first weekly decline in more than a month.
Most of the indices’ decline is due to the World Bank announcement that it expects [...]
Eurozone Economies Shrink 2.5% in First Quarter, Most Since 1995
General Motors Corp Close to Agreement with United Anto Workers Union (UAW) to Cut Labor Costs by Over USD 1B per Year
Panasonic Corp Forecasts Larger-Than-Expected Annual Loss Following First-Quarter Net Loss of JPY 444.3B vs Net Profit of JPY 61.6B yoy
Temasek Holdings Pte Sells Its 3.5% [...]
Filed in Finance
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Also tagged Eurozone, General Motors, Hong Kong Hang Seng, Japan Nikkei, Market News, Nike, Overnight Market, Overnight Markets, Panasonic, Rio Tinto, Temasek Holdings
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European Commission Fines Intel Corp USD 1.45B on Using Rebates to Impede A Competitor
Japan’s Current Account Surplus Falls 50.2% in Year Through March to JPY 12.23T (USD 127B)
International Business Machines Corp (IBM) Ready to Launch New Real-Time Data Analysis Software
US Bancorp Sells USD 2.5B Worth of Common Stock After Passing Stress Test Hoping to Persuade [...]
Filed in Finance
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Also tagged Brazil Bovespa, Crude Oil, Ford Motor, Hong Kong Hang Seng, Intel Corp, International Business Machines, Japan Nikkei, Market News, Overnight Market News, Telefonica SA, US Bancorp
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Bank of America Corp Raises USD 7.3B from Sale of Stake in China Construction Bank Corp
The European Union (EU) Will Conduct Stress Tests on its Banking Sector by September 2009 to Determine Capital Adequacy
China’s Exports Fall 22.6% in April (yoy), While Factory Investments Surge 30.5% (ytd)
Australia’s Budget Deficit Balloons to Record USD 44B on Recession
European [...]
Centrica to Purchase 20% Stake in British Energy for GBP 2.3B
HSBC Writes Off USD 2.4B on US Subprime Mortgage, Consumer Lending Operations, US Bad Debts Less Than Q04 2008
3i Group Plc Plans GBP 700B Rights Offering After Net Asset Value Plummets 50%
Intel Bracing to Pay Fine for Anti-Competitive Behavior
China’s Consumer Prices Decline 1.5% in April [...]
Filed in Finance
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Also tagged 3i Group, Centrica, China, Crude Oil, Ethanol, HSBC, Intel, London FTSE, Market News, Natural Gas, Nikkei, Overnight Market News, US Subprime Mortgage
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