|
|
September 25, 2007
by Elaine Frei
Wall Street was mixed in midday trade on Tuesday. The Dow Jones Industrial Average was 0.1 percent lower to 13,745.24 after falling even more earlier in the session, and the S&P 500 had dropped 0.34 percent to 1,512.61, but the Nasdaq Composite was 0.04 percent higher to 2,668.9. Retailers were lower on worries about sales in the upcoming holiday season, ...
by Kay Murchie
The oil giant, BP, has plunged into further crisis today after Tony Hayward, the new chief executive, admitted that current performance is dreadful. Furthermore, he confessed that the management structure he took over from former chief executive Lord Browne is not working.
Hayward's comments allegedly arose from a staff meeting in Houston, the chief executive quoted that BP's third-quarter results, ...
by Kay Murchie
Deutsche Bank faces a £1.2 billion damage to profits following the credit market crisis. A news source said £20 billion worth of loans issued by the bank could be worth up to 6% less than originally thought.
Deutsche Bank, one of the City’s biggest employers, announced that it is re-estimating the value of the loans. Shares dropped €1.65 to €90.20 following the ...
September 24, 2007
by Stewart Douglas
The Singapore rate of inflation has been recorded beyond analysts expectations, according to official figures released today, which indicate that more proactive anti-inflation measures may be necessary in order keep it from becoming too problematic.
The rate of inflation on an adjusted annual basis to August was reflected in a consumer price index increase of 2.9%, according to figures released by the Department ...
by Stewart Douglas
The UK's public finances have been shown to be further into deficit over the month of August, beyond analysts' previous expectations, according to official figures released today.
Both of the government's key indicators of the health of UK public finance reflected a downturn on previous months sending the national coffers further into the red, despite analysts projections of a much smaller drop.
The ...
by Stewart Douglas
Global stock markets have enjoyed a mixed day of trading today with some remnants of last week's interest rate cuts keeping values close to scratch on a day in which the International Monetary Fund predicted a worldwide economic slowdown.
The news from the International Monetary fund hit markets across the world, with European markets literally saved by the closing bell from sustaining any more ...
by Stewart Douglas
The value of the dollar has fallen to yet another record low on world currency exchanges against the euro, continuing its downward trend of recent weeks through another day of poor investment trading.
The value of the dollar has continued to plummet since the US Federal Reserve announced its decision to cut interest rates to 4.75% in order to ease financial markets ...
by Elaine Frei
Two-year and five-year US Treasury bonds held steady on Monday afternoon in New York, while prices on ten-year and thirty-year bonds were slightly higher, sending yields down a bit.
While many investors expect that the Federal Reserve will cut interest rates again at its October meeting, that assumption has already been priced into the market and is not likely to change ...
by Stewart Douglas
A global economic slowdown over the near future is very likely, as a by-product of the current credit crunch environment, according to an announcement made today by the International Monetary Fund.
Speaking today on the impact of the US sub-prime situation in its global stability report, the International Monetary Fund suggested that the outcome of the current credit crunch environment would most likely lead to ...
by Elaine Frei
Crude oil prices fell Monday as production resumed in the Gulf of Mexico after a tropical depression caused the closure of almost 63 percent of the region’s production Friday, and some analysts expect that it will drop below $80 per barrel soon.
West Texas Intermediate crude for November delivery was down 14 cents to $81.48 per barrel a little more ...
by Stewart Douglas
The president of the European Central Bank Jean Claude Trichet has criticised the French population for spending excessively in comparison to its gross domestic product, seeing them top the table as Europe's prime 'big spenders'.
In a statement made today, Trichet suggested that the French economy could be facing significant financial problems as it continues to outspend against its Eurozone neighbours, which has ...
by Elaine Frei
Wall Street was higher in midday trade Monday. The Dow Jones Industrial Average was up 0.14 percent to 13,839.94, while the Nasdaq Composite had added 0.53 percent to 2,685.51 and the S&P 500 was 0.71 percent higher to 1,526.46. Carmakers, technology-related shares and solar power companies all saw gains on the session.
In Australia on Monday the Sydney Ordinaries added 1.41 ...
by Elaine Frei
News that Yasuo Fukuda will become prime minister in the wake of the resignation of Shinzo Abe sent the yen higher by midday in London on Monday, with the Japanese currency adding 0.1 percent to ¥232.85 in relation to sterling while it gained 0.3 percent to ¥162.20 versus the euro.
Sterling was higher against the euro, adding 0.2 percent to £0.6964.
The ...
by Kay Murchie
Royal Mail and a second union are to enter talks today in an attempt to prevent a strike over pension plans. Royal Mail is already in turmoil with its 130,000 employees, including a dispute with its postal workers over wages and working conditions.
Now the Unite Union, which represents 12,000 postal managers, has threatened industrial action of pension proposals. Unite has ...
by Kay Murchie
Wolseley, the world’s largest distributor of plumbing and heating products, announced a 7.3% decline in full-year profits – knocked by the weak U.S. housing market and cautioned that the weakness may persist.
The group posted £758 million pounds of profit before tax and amortisation in the 12 months to end-July, just under the analysts' average forecast of £761.4 million. Group revenue increased ...
by Kay Murchie
Supermarket Morrisons have defied tough market conditions by announcing a near-doubling of half-year profits. This is a turnaround for the group which has struggled since its takeover of Safeway in 2003.
Underlying sales rose 2.7% in the first half and 3% in the 7 weeks since July 29. The dividend has increased 8% to 0.675p. Sir Ken Morrison, the Chairman, is retiring in ...
by Kay Murchie
API Group, the packaging firm, has stunned investors after warning it is likely to breach its UK banking facilities in November after discovering a 'cash flow shortfall' in its domestic business. The warning triggered a sell-off of API's shares which crashed by nearly half last Friday.
The group announced that it is reviewing several options to deal with the cash ...
September 21, 2007
by Stewart Douglas
The Federal Reserve has announced that it intends to keep a close eye on individual economic indicators as they are released over the course of the month, to enable it to respond promptly to any changes in the economic climate.
Board Governor Kevin Warsh is quoted as saying it is the Reserve's intention to stay in line with indicators from the market ...
by Stewart Douglas
The number of UK factory order has remained at a 'healthy level' for the month of August despite losing some value on the decade-highs witnessed through last month, according to a survey published today.
In a survey released today by the CBI, its monthly order index was up to the figure of +6 which remains at a healthy level, despite highs ...
by Stewart Douglas
The rising strength of the euro could ultimately lead to job cuts, after Airbus today said it was contemplating laying off a proportion of its staff if prices remain strong over the near future.
The company's Chief Operating Officer was quoted as saying today that it would need an additional one billion euros in order to fund an employee savings fund, ...
|
|
