Stock Market
FTSE 100 closes higher
(AFP) - Mon, 06 Sep 2010 16:37:08 GMT
AFP - London shares climbed on Monday as investors further digested last week's better-than-expected US jobs data which reduced prospects of a return to recession.
| World markets rise as double-dip fears ease
(AP) - Mon, 06 Sep 2010 13:43:21 GMT
AP - World stock markets advanced modestly Monday as investors rode momentum from Friday, when an upbeat U.S. jobs report eased fears that the global economy could slip back into recession.
| World stocks gain, dollar falls
(AFP) - Mon, 06 Sep 2010 12:06:53 GMT
AFP - Global stock markets rose and the dollar fell on Monday as investors further digested better-than-expected US jobs data which reduced prospects of a return to recession.
| Bad credit? For corporate borrowers, not a problem
(AP) - Sun, 05 Sep 2010 19:29:41 GMT AP - With rising fears of a prolonged recession and stomach-churning moves in the stock market, corporate bond markets have performed so well this year they look like they're part of a parallel universe.
| Wall Street ends week with hope
(AFP) - Sat, 04 Sep 2010 15:56:26 GMT
AFP - Wall Street heads into next week with strong tailwind from recent days' rally and brighter outlook as traders keenly await President Barack Obama to unveil new plans for boosting the shaky US economy.
| SEC reaches settlement with ex-Qwest CEO Nacchio
(AP) - Sat, 04 Sep 2010 01:31:37 GMT AP - The Securities and Exchange Commission has reached a settlement in its civil lawsuit against former Qwest CEO Joseph Nacchio.
| Stocks extend September rally after jobs report
(AP) - Fri, 03 Sep 2010 21:37:49 GMT
AP - The stock market had its first winning week in a month thanks to better news on the economy.
| Summary Box: Stock market snaps a three-week slump
(AP) - Fri, 03 Sep 2010 21:01:50 GMT AP - SEPTEMBER RALLY: The stock market had its first winning week in a month after better news on employment and manufacturing lifted shares.
| How the major stock indexes fared Friday
(AP) - Fri, 03 Sep 2010 20:56:15 GMT AP - The stock market had its first winning week in a month after news on the economy started getting better. The Dow Jones industrial average jumped 128 points Friday, its fourth straight day of gains. Even after its four-day run, which added 438 points to the Dow, the index is still 6.8 percent below its April high.
| Stocks rally as jobs data spurs optimism
(Reuters) - Fri, 03 Sep 2010 20:43:39 GMT
Reuters - Wall Street closed a stellar week on Friday after recent economic data, including a stronger-than-expected labor market report, bolstered optimism that the economy would not fall back into recession.
| A look at economic developments around the globe
(AP) - Fri, 03 Sep 2010 17:00:38 GMT AP - A look at economic developments and activity in major stock markets around the world Friday:
| "Quote stuffing" a focus in flash crash probe
(Reuters) - Thu, 02 Sep 2010 19:23:36 GMT
Reuters - U.S. regulators probing the May flash crash are focusing on a trading practice known as "quote stuffing", in which large numbers of rapid-fire orders to buy or sell stocks are placed and canceled almost immediately.
| US Def Sec: Afghans should lead corruption fight
(AP) - Thu, 02 Sep 2010 18:53:09 GMT
AP - U.S. Defense Secretary Robert Gates said Thursday that while the fight against corruption must be led by Afghans, the U.S. is working on new ways to prevent millions of American dollars flowing into the nation from underwriting bribery and graft.
| Report: SEC Investigating canceled trades
(AP) - Thu, 02 Sep 2010 12:25:08 GMT AP - The Securities and Exchange Commission is looking into certain types of stock trade orders that could be distorting share prices and trading volume, according to The Wall Street Journal.
| European stocks drop before ECB rate call
(AFP) - Thu, 02 Sep 2010 11:02:55 GMT
AFP - European stock markets slid on Thursday as investors took profits from recent gains amid caution before the latest interest rate decision from the European Central Bank.
| Ex-hedge fund manager charged with insider trading
(Reuters) - Wed, 01 Sep 2010 17:15:33 GMT Reuters - A former hedge fund manager has been accused by a U.S. regulator of illegal insider trading in MedImmune Inc securities prior to the acquisition of the pharmaceutical company by Britain's AstraZeneca Plc.
| Some BofA shareholders can apply to tap $150M fund
(AP) - Wed, 01 Sep 2010 16:31:37 GMT
AP - Investors who lost money when Bank of America Corp. bought Merrill Lynch without disclosing Merrill's problems can start applying to tap a $150 million compensation fund.
| Equities make bright start to September
(AFP) - Wed, 01 Sep 2010 11:16:32 GMT
AFP - Asian and European stocks rose on Wednesday, lifted by bargain-hunting and upbeat data, as dealers set aside Wall Street's worst August performance in nine years amid stubborn US recovery doubts.
| Strong Asian data boosts world stocks
(Reuters) - Wed, 01 Sep 2010 08:46:51 GMT
Reuters - World stocks kicked off September on a stronger note on Wednesday as data showed a manufacturing rebound in China and stronger-than-expected growth in Australia, while the yen held near recent 15-year peaks against the dollar.
| SEC says it lacked authority to charge Moody's
(AP) - Tue, 31 Aug 2010 23:23:32 GMT AP - The Securities and Exchange Commission has declined to seek fraud charges against Moody's Investors Services over its ratings of risky investments that led to the financial crisis.
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Earnings
Campbell reports Q4 profit rise on better margins
(AP) - Fri, 03 Sep 2010 20:48:36 GMT
AP - Summer is rarely a hot sales season for Campbell Soup Co., and this year's sweltering June and July made that even more true, but the company said Friday that cost-cutting and strong drink sales helped its net income climb.
| Summary Box: Campbell Soup 4th-qtr results
(AP) - Fri, 03 Sep 2010 15:56:41 GMT AP - SALES DOWN, PROFIT UP: The Campbell Soup Co. said Friday that its adjusted fourth-quarter profit was up 7 percent, even though its sales were down 1 percent.
| Take-Two posts profit, raises outlook
(Reuters) - Thu, 02 Sep 2010 23:11:50 GMT Reuters - Video game maker Take-Two Interactive Inc on Thursday smashed Wall Street expectations for its fiscal third quarter and raised its forecast for the current fourth quarter, citing strong sales for its "Red Dead Redemption" title.
| ArcSight posts higher fiscal 1Q profit
(AP) - Thu, 02 Sep 2010 22:24:48 GMT AP - ArcSight Inc. said Thursday its fiscal first-quarter profit tripled as the cybersecurity software and services company's sales jumped 39 percent.
| H&R Block 1Q loss narrows despite revenue decline
(AP) - Thu, 02 Sep 2010 22:21:01 GMT AP - H&R Block Inc. on Thursday said its fiscal first-quarter loss narrowed by 2 percent as it reduced staffing and other expenses.
| Take-Two posts 3Q profit, revenue soars
(AP) - Thu, 02 Sep 2010 22:19:29 GMT AP - Video game publisher Take-Two Interactive Software Inc. posted better-than-expected results for its fiscal third quarter Thursday, reversing a loss as revenue more than tripled thanks to largely to strong sales of "Red Dead Redemption."
| Summary Box: Pernod Ricard earnings
(AP) - Thu, 02 Sep 2010 19:08:51 GMT AP - COMPANY: Pernod Ricard SA, Paris-based drink maker known for its anise-flavored aperitifs as well as Beefeater gin and recently acquired Absolut vodka reported its full-year earnings Thursday.
| Del Monte 1Q profit edges up, but revenue slips
(AP) - Thu, 02 Sep 2010 14:34:49 GMT AP - Del Monte Foods Co. said Thursday that its fiscal first-quarter profit edged up 1.4 percent, but revenue softened on weakness in the consumer business and the company trimmed its expectations for revenue growth this year.
| TD Bank profit rises 29 percent
(AP) - Thu, 02 Sep 2010 12:56:52 GMT AP - Toronto-Dominion Bank, North America's sixth largest bank by branches, increased profit by 29 percent in the third quarter on a record quarter by its Canadian retail banking operations.
| Chinese demand helps lift Pernod Ricard profits
(AP) - Thu, 02 Sep 2010 11:08:32 GMT AP - Pernod Ricard SA said Thursday that demand for Martell cognac in China and Chivas Regal scotch in Latin America helped lift full-year net profit by 1 percent.
| Gazprom's Q1 profits triple to $10.6 bln
(AP) - Thu, 02 Sep 2010 07:35:55 GMT AP - Russia's gas giant Gazprom said Thursday its net profit tripled to 324.9 billion rubles ($10.6 billion) in the first quarter of the year as the company capitalized on a cold winter in Europe.
| Earnings Preview: Campbell Soup Co.
(AP) - Thu, 02 Sep 2010 00:49:40 GMT AP - Campbell Soup Co., the world's largest soup maker, reports its fourth-quarter and year-end results before the market opens Friday.
| Summary Box: Hovnanian Enterprises 3rd-qtr results
(AP) - Wed, 01 Sep 2010 22:24:38 GMT AP - SMALLER LOSS: Hovnanian Enterprises Inc. cut its fiscal third-quarter loss as the homebuilder booked fewer land-related write-downs.
| Hovnanian trims loss for fiscal Q3
(AP) - Wed, 01 Sep 2010 22:03:49 GMT AP - Hovnanian Enterprises Inc. said Wednesday its fiscal third-quarter loss narrowed versus the prior-year period as the homebuilder booked fewer land-related write-downs. But signed contracts on new homes tumbled 37 percent as demand slowed in the absence of homebuyer tax credits.
| Oxford posts 2Q profit, reversing year-ago loss
(AP) - Wed, 01 Sep 2010 21:57:23 GMT AP - Clothing company Oxford Industries Inc. on Wednesday posted a fiscal second quarter profit as it benefited from restructuring and from exiting businesses that were no longer profitable. The company also raised its guidance for the full year.
| Collective Brands 2Q profit rises but misses views
(AP) - Wed, 01 Sep 2010 21:45:59 GMT AP - Collective Brands Inc., the parent of Payless ShoeSource, said its fiscal second-quarter profit rose 13 percent as sales edged up and expenses declined.
| Borders 2nd-quarter loss widens
(AP) - Wed, 01 Sep 2010 21:38:53 GMT AP - Borders Group Inc. reported a slightly larger loss in the second quarter and said it will sell more items besides books as it readies for the crucial holiday season.
| Brown-Forman posts 8 percent drop in 1Q net income
(AP) - Wed, 01 Sep 2010 21:25:18 GMT
AP - Liquor company Brown-Forman Corp. posted a 8 percent drop in first-quarter net income, missing analyst estimates and sending shares into a tailspin Wednesday as investors worried about the company's ability to meet its targets.
| Heinz 1Q profit rises 13 pct on overseas strength
(AP) - Wed, 01 Sep 2010 21:18:44 GMT
AP - H.J. Heinz Co.'s fiscal first-quarter net income jumped 13 percent as the foodmaker's business boomed in growing overseas markets such as India, China and Russia.
| Joy Global 3Q net income slips, raises forecast
(AP) - Wed, 01 Sep 2010 21:17:59 GMT AP - Mining equipment maker Joy Global Inc. said Wednesday net income slid nearly 5 percent in the third quarter as sales slipped, but raised its 2010 forecast on a surge in new orders.
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Economy
As Democrats fear rout, Obama launches new jobs push
(AFP) - Mon, 06 Sep 2010 21:50:16 GMT
AFP - US President Barack Obama Monday promised more than 50 billion dollars to create jobs rebuilding roads, railways and airports, targeting huge unemployment and ripping resurgent Republicans.
| Obama assails GOP, promotes new jobs program
(AP) - Mon, 06 Sep 2010 20:56:43 GMT
AP - A combative President Barack Obama rolled out a long-term jobs program Monday that would exceed $50 billion to rebuild roads, railways and runways, and coupled it with a blunt campaign-season assault on Republicans for causing Americans' hard economic times.
| (AP) - Mon, 06 Sep 2010 19:28:20 GMT AP - President Obama says rewarding greed, recklessness, special interests won't fix economy.
| Greeting card giant Hallmark heads for 2nd century
(AP) - Mon, 06 Sep 2010 17:49:07 GMT
AP - Hallmark Cards Inc., a $4 billion empire built on a demand for printed sentimentality, enters its second century facing a weak economy and what could be an even greater challenge: a generation that has grown up posting its sentiments online.
| Fed should not set limit on economy aid: Kohn
(Reuters) - Mon, 06 Sep 2010 16:48:40 GMT Reuters - The Federal Reserve should not announce a limit on its actions if it resumes purchases of Treasury securities to stimulate the U.S. economy, the former vice chairman of the central bank said.
| World stocks gain, dollar falls
(AFP) - Mon, 06 Sep 2010 12:06:53 GMT
AFP - Global stock markets rose and the dollar fell on Monday as investors further digested better-than-expected US jobs data which reduced prospects of a return to recession.
| Labor secretary: Obama doing good job on economy
(AP) - Mon, 06 Sep 2010 11:36:27 GMT AP - Labor Secretary Hilda Solis is defending President Barack Obama's efforts to combat the recession and unemployment, saying his focus has been on helping the jobless and underemployed.
| Obama to launch political offensive on economy
(AFP) - Mon, 06 Sep 2010 11:05:52 GMT
AFP - US President Barack Obama will travel to the Midwestern US state of Wisconsin Monday as part of a broad effort to stem ebbing political support over the slowing economic recovery.
| China Inc gets new chairman as state-owned firms' clout grows
(Reuters) - Mon, 06 Sep 2010 10:30:19 GMT Reuters - Wang Yong, a name little heard on the global business stage, has become boss of the world's biggest mobile telecom carrier, the most valuable coal producer and Asia's top oil refiner.
| Oil hovers above $74 as traders eye US economy
(AP) - Mon, 06 Sep 2010 08:11:38 GMT
AP - Oil prices slipped to near $74 a barrel Monday in Asia as traders weighed whether growing Chinese demand can offset weak U.S. fuel consumption amid high unemployment.
| Obama to propose 100 billion tax credit
(AFP) - Mon, 06 Sep 2010 04:17:49 GMT
AFP - President Barack Obama will call for a 100-billion-dollar business tax credit this week to boost the sagging US economic recovery, The Washington Post reported.
| Aftershocks rattle quake-hit NZ city
(Reuters) - Mon, 06 Sep 2010 07:47:45 GMT
Reuters - Aftershocks rocked New Zealand's second-biggest city on Monday causing further damage and forcing authorities to extend a state of emergency after the country's most damaging earthquake in 80 years.
| Diverse water sources key to food security: report
(Reuters) - Mon, 06 Sep 2010 00:02:25 GMT
Reuters - Increasingly erratic rainfall patterns related to climate change pose a major threat to food security and economic growth, water experts said on Monday, arguing for greater investment in water storage.
| Want cheapskates to spend? Hawk gizmos that save
(AP) - Sun, 05 Sep 2010 23:13:07 GMT
AP - How do you get penny pinchers to spend these days? Pitch products that promise to save them money.
| What might make the Fed flinch?
(Reuters) - Sun, 05 Sep 2010 19:54:49 GMT
Reuters - The U.S. economy appears to be trudging along, neither booming nor busting, growing steadily enough to diminish double-dip recession fears but not quickly enough to bring down unemployment.
| Putting 5 cheapskate accessories to the test
(AP) - Sun, 05 Sep 2010 18:32:02 GMT AP - Companies are unleashing lots of gadgets to help consumers be more frugal, but are they worth the money?
| Official: Obama backing research tax credits
(AP) - Sun, 05 Sep 2010 16:23:01 GMT
AP - Seeking ways to spur economic growth ahead of the November elections, President Barack Obama will ask Congress to increase and permanently extend research and development tax credits for businesses, a White House official said Sunday.
| Expiring tax cuts pose dilemma for US lawmakers
(AFP) - Sun, 05 Sep 2010 15:53:35 GMT
AFP - US lawmakers returning from summer recess face a conundrum on tax cuts set to expire at the end of this year, with the economy seemingly sputtering ahead of looming congressional elections.
| IMF's Lipsky says moderate world recovery underway
(Reuters) - Sun, 05 Sep 2010 05:07:07 GMT
Reuters - The world economy is recovering moderately but still faces challenges such as the need for medium-term fiscal consolidation, the IMF's First Managing Director, John Lipsky, said on Sunday.
| Obama says his economic policies halted "bleeding"
(Reuters) - Sun, 05 Sep 2010 02:12:06 GMT
Reuters - President Barack Obama, previewing a big push on the U.S. economy next week, on Saturday defended policies that he said "have stopped the bleeding" and put the middle class on the road to recovery.
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