Daily News Alert | Monday, August 2, 2010 12:00 AM PDT |
Asian stocks up as markets shrug off China data
Sun, 1 Aug 2010 11:30 pm PDT
 Reuters - Asian stocks rose on Monday on strong corporate earnings and shrugged off news that Chinese manufacturing shrank in July amid investor hopes that the world's fastest growing major economy will expand strongly. Full Story | Top |
China slows to cruising speed; India perks up
Sun, 1 Aug 2010 10:52 pm PDT
Reuters - China's manufacturing sector cooled further in July, even shrinking by one measure, but markets took the news as a sign of a desired slowdown rather than a harbinger of a slump that could derail global recovery. Full Story | Top |
Goldman defends its collateral calls to AIG
Sun, 1 Aug 2010 10:54 pm PDT
Reuters - Goldman Sachs said that it believed its trades with the bailed out insurer AIG during the financial crisis were accurate and its collateral calls made to AIG were reflective of the conditions in a deteriorated market. Full Story | Top |
European stocks falter before US output data
Fri, 30 Jul 2010 03:49 am PDT
 AFP - Europe's main stock markets fell on Friday as investors looked ahead to key economic growth figures from the United States, after dissecting news of a major takeover, company earnings and eurozone data. Full Story | Top |
Metro quarterly profit off by 15.4 percent
Sun, 1 Aug 2010 11:24 pm PDT
 AFP - German retail giant Metro posted Monday a 15.4 percent drop in second quarter net profit to 44 million euros (57 million dollars), well below analyst's forecasts owing to restructuring charges and higher interest payments. Full Story | Top |
Greece turns to military to restore fuel supplies
Fri, 30 Jul 2010 11:36 am PDT
 AP - Greece said Friday it will use military trucks, navy vessels and commandeered fuel tankers to restore gasoline supplies cut by a strike that has hurt the country's industry and vital tourism trade at the height of vacation season. Full Story | Top |
UBS to hire mortgage and loan executives
Sun, 1 Aug 2010 06:43 pm PDT
 Reuters - UBS AG (UBSN.VX) said on Sunday it plans to hire executives from Goldman Sachs Group Inc (GS.N) and Bank of America Corp (BAC.N) to build its mortgages and lending business in the U.S. Full Story | Top |
Champagne corks popping again in luxury business
Sat, 31 Jul 2010 11:05 pm PDT
 AFP - Champagne corks are popping again in the luxury business as "It" bags and expensive watches this year sell like hotcakes from Beijing to New York, signalling the turning of a page after the global financial crisis. Full Story | Top |
Lower provisions and retail boost BNP profit
Sun, 1 Aug 2010 10:12 pm PDT
Reuters - BNP Paribas (BNPP.PA), France's biggest listed bank, posted higher-than-expected second-quarter net profit thanks to lower loan provisions and strong retail banking, despite volatile financial market conditions. Full Story | Top |
Michigan voters search for economic savior
Sat, 31 Jul 2010 03:23 pm PDT
 AP - Michigan voters frustrated over lost jobs, home foreclosures and budget deficits will vote in Tuesday's primary election for leaders they hope can move the state out of its economic morass. Full Story | Top |
BP prepares to plug Gulf oil well for good
Sun, 1 Aug 2010 10:35 pm PDT
Reuters - BP Plc could start plugging its broken deepsea oil well in the Gulf of Mexico on Monday night, more than three months after its rupture led to the worst offshore oil spill in U.S. history. Full Story | Top |
Fiat boss shakes up Italian labour
Sat, 31 Jul 2010 08:46 pm PDT
 AFP - Fiat boss Sergio Marchionne is shaking up labour relations in Italy by strong-arming unions as he aims to create a global megagroup with US automaker Chrysler. Full Story | Top |
The New Abnormal
Fri, 30 Jul 2010 05:08 am PDT
BusinessWeek - In March, Ralph Ronzio went to a warehouse in a seedy part of Orange County, Calif., and watched a guy auction off his condo for half what he'd paid for it. Ronzio had bought the place for $329,000 in 2005, when he moved to Southern California from Rhode Island to take a job at a data-storage company. It was the first place he'd ever owned. "It was totally my bachelor pad," he says. "Not much inside other than the usual leather couch and the big screen TV. My fiancee made me sell the couch." Full Story | Top |
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