NEW YORK (Reuters) - Verizon Communications said on Monday its quarterly profit rose and its wireless customer additions were ahead of analyst estimates.
PARIS (Reuters) - Exchange officials questioned deals by Societe Generale trader Jerome Kerviel in November 2007, the Paris prosecutor said on Monday, adding to pressure on the French bank to explain how the trader almost brought it down.
French prosecutors announced Monday they plan to pursue three charges against the rogue trader who allegedly carried out a $7.2 billion fraud at Societe Generale, and that they will ask a judge to authorize his continued detention.
Reuters - Verizon Communications said on
Monday its quarterly profit rose and its wireless customer
additions were ahead of analyst estimates. Source: Yahoo! News: Business | 28 Jan 2008 | 12:34 pm
LONDON (Reuters) - Bears returned in force to emerging markets on Monday as renewed fears of a U.S. recession took equities down a further three percent and pushed debt yield spreads out four basis points over U.S. Treasuries.
SEOUL (Reuters) - Hedge funds will likely yield good returns from distressed assets in 2008, while M&A-linked arbitrage would dwindle as financial market turmoil is far from over, HSBC's alternative investment group said on Monday.
Reuters - U.S. retailer Sears Holdings Corp
said its chief executive Aylwin Lewis will leave the
company, effective Feb 2, the latest in a shake-up of the firm
that operates the Sears and Kmart chain of stores.
NEW YORK (Reuters) - U.S. retailer Sears Holdings Corp said its chief executive Aylwin Lewis will leave the company, effective Feb 2, the latest in a shake-up of the firm that operates the Sears and Kmart chain of stores.
NEW YORK (Reuters) - Stock index futures fell on Monday following declines in overseas markets as concern about a U.S. recession hurting the global economy lingered.
Reuters - Persistent fears about the world economy
battered global stocks again on Monday and drove investors
towards safer assets despite expectations of more interest cuts
from the Federal Reserve to bolster growth.
Reuters - Persistent fears about the world economy
battered global stocks again on Monday and drove investors
towards safer assets despite expectations of more interest cuts
from the Federal Reserve to bolster growth.
LONDON (Reuters) - Persistent fears about the world economy battered global stocks again on Monday and drove investors towards safer assets despite expectations of more interest cuts from the Federal Reserve to bolster growth.
Reuters - Oil fell more than a dollar towards $89
a barrel on Monday as falling global stock markets amid renewed
worries about the health of the global economy spurred profit
taking.
LONDON (Reuters) - Oil fell more than a dollar towards $89 a barrel on Monday as falling global stock markets amid renewed worries about the health of the global economy spurred profit taking.
French trader Jerome Kerviel has admitted to hiding deals that lost his bank billions, prosecutors say. Source: BBC News | Business | World Edition | 28 Jan 2008 | 12:23 pm
Reuters - Stock index futures fell on Monday
following declines in overseas markets as concern about a U.S.
recession hurting the global economy lingered.
Jérôme Kerviel will today be formally charged with attempted fraud, forgery and breach of trust, the Paris prosecutor Jean-Claude Marin confirmed. Source: Telegraph Business | 28 Jan 2008 | 12:10 pm
WASHINGTON (MarketWatch) -- Bruce Johnson will replace Aylwin Lewis as Sears Holdings Corp.'s president and chief executive effective Feb. 2, the troubled broadline retailer announced Monday.
European and Asian shares decline as concerns remain about the state of the US and global economies. Source: BBC News | Business | World Edition | 28 Jan 2008 | 12:01 pm
HOUSTON (Reuters) - Oilfield services company Halliburton Co on Monday said its fourth-quarter net profit rose 5 percent, helped by growth in the its Eastern Hemisphere business and a lower tax rate.
U.S. stocks were poised for a rough start Monday as investors watched most major overseas markets tumble and awaited the upcoming Federal Reserve policy meeting along with President Bush's final State of the Union address.
LONDON (MarketWatch) -- Faced with sharp criticism over planned layoffs in Germany, Nokia Corp. said Monday it's in talks to sell a division that makes automotive electronics.
AP - Department store retailer Sears Holdings Corp. said Monday Aylwin B. Lewis will step down Feb. 2 as president and chief executive and be succeeded by W. Bruce Johnson, executive vice president of supply chain and operations on an interim basis. Source: Yahoo! News: Business | 28 Jan 2008 | 11:36 am
The French trader accused by Societe Generale bank of causing the biggest trading fraud by a single person could face preliminary charges of forgery, breach of trust and fraud, a Paris... Source: Infocious RSS raw feed - channel BNewsBusiness | 28 Jan 2008 | 11:34 am
Department store retailer Sears Holdings Corp. said Monday Aylwin B. Lewis will step down Feb. 2 as president and chief executive and be succeeded by W. Bruce Johnson, executive vice... Source: Infocious RSS raw feed - channel BNewsBusiness | 28 Jan 2008 | 11:31 am
A power crisis forced the suspension of mining operations for a fourth day running in South Africa on Monday as unions expressed fears the halt in production would lead to large-scale job... Source: Infocious RSS raw feed - channel BNewsBusiness | 28 Jan 2008 | 11:30 am
The French trader accused by Societe Generale bank of causing the biggest trading fraud by a single person could face preliminary charges of forgery, breach of trust and fraud, a Paris... Source: Infocious RSS raw feed - channel BNewsBusiness | 28 Jan 2008 | 11:29 am
Toymaker Hornby is betting on James Bond and Shaun the Sheep to drive sales, the firm says. Source: BBC News | Business | World Edition | 28 Jan 2008 | 11:23 am
(Reuters) - Retailer Sears Holdings Corp said its Chief Executive Aylwin Lewis will leave the company, effective Feb 2. Source: Infocious RSS raw feed - channel BNewsBusiness | 28 Jan 2008 | 11:20 am
LONDON (MarketWatch) -- European shares moved sharply lower Monday, an echo of last week's early action, as worries about economic growth as well as financial-sector transparency after Societe Generale's massive fraud loss continued to depress equity markets.
HOUSTON (Reuters) - Oilfield services company Halliburton Co on Monday said its fourth-quarter net profit rose 5 percent, helped by growth in the its Eastern Hemisphere business and a... Source: Infocious RSS raw feed - channel BNewsBusiness | 28 Jan 2008 | 11:12 am
LONDON (MarketWatch) -- U.S. stock futures declined on Monday, with fears that the Federal Reserve may limit rate cuts this week weighing on equities all around the globe.
It wasn't long ago that it dawned on media experts that information technology - and in particular the Internet - would profoundly transform the business of advertising. Here was a new medium that could not only tell you when someone was looking at your ad but also indicate what that someone was interested in. How could old media's gray columns of classifieds compete with that?
The Fed's surprise rate cut last week has injected confidence into global equity markets but the lasting inflationary impact in China and Hong Kong could be more troublesome.
The boss of Countrywide Financial agrees not to take $37.5m owed to him following the bank's takeover. Source: BBC News | Business | World Edition | 28 Jan 2008 | 10:54 am
Steep falls in Asian equity markets Monday prompted a fresh round of gains for the Japanese yen, which rose against most major counterparts as traders steered away from risky “carry” trades.
FT.com - Société Générale led European stocks markets lower on Monday after a downgrade by Citigroup (NYSE:C), as losses in Asian markets stoked fears of a recession. Source: Yahoo! News: Business | 28 Jan 2008 | 10:40 am
Socit Gnrale led European stocks markets lower on Monday after a downgrade by Citigroup, as losses in Asian markets stoked fears of a recession. SocGen tumbled 7.4 per cent to 68.42 as Citi slashed its... Source: Infocious RSS raw feed - channel BNPaperBusiness | 28 Jan 2008 | 10:39 am
The yen gained traction on Monday as a sharp drop in Asian stock markets drove investors away from risky assets. In the currency markets, this led to reduced demand for carry trades, in which the purchase... Source: Infocious RSS raw feed - channel BNPaperBusiness | 28 Jan 2008 | 10:37 am
Forget what you may have read in the newspaper about state budget problems or bond insurer meltdowns. This is a perfect time to be buying municipal bonds. The economy is slowing, the Federal Reserve is poised for more interest rate cuts (boosting bond prices), and a Democratic win in November would probably lead to higher taxes on the rich, thereby enhancing munis' tax advantages. Throw in munis' microscopic default rates, and you've got an ideal landing spot for investors weary of the stock market roller coaster.
Fast food giant McDonald's has won approval to award nationally-recognized qualifications based on training courses for its staff, the British government said Monday. The US... Source: Infocious RSS raw feed - channel BNewsBusiness | 28 Jan 2008 | 10:28 am
Shares at Nippon Steel, the world's second largest steel firm, slump after reporting falling quarterly profits. Source: BBC News | Business | World Edition | 28 Jan 2008 | 10:24 am
US-based Citigroup plans a Chinese securities joint venture as the Asian nation reopens its lucrative brokerage sector to foreign participation after a two-year pause, state media said... Source: Infocious RSS raw feed - channel BNewsBusiness | 28 Jan 2008 | 10:22 am
The mobile phone of arrested traderJérôme Kerviel could hold the key to the biggest banking fraud in history, it has emerged. Source: Telegraph Business | 28 Jan 2008 | 10:22 am
London equities tumbled on Monday, tracking fresh losses on Asian markets as stubborn worries about the health of the US economy and the prospects for global growth continued to bite. The FTSE 100 sank... Source: Infocious RSS raw feed - channel BNPaperBusiness | 28 Jan 2008 | 10:18 am
Stock markets across Asia accelerated their losses late Monday, with the Shanghai Composite leading the selloff with a more than 7 percent decline, as investors tracked Wall Street's lackluster performance Friday and awaited some key events in the US this week.
UK house prices could fall by as much as 5pc this year and 8pc in 2009 as the economy slows, the quarterly Deloitte Economic Review has warned. Source: Telegraph Business | 28 Jan 2008 | 10:10 am
Heavy snow across eastern China disrupted transportation and power supplies, helping push shares in Shanghai down by 7.2 per cent, while Tokyo and Hong Kong fell about 4 per cent on concerns about the chance of a US recession Source: FT.com - US homepage | 28 Jan 2008 | 10:09 am
Asian shares fell on Monday for the first time in three days as investors remained concerned about the possibility of a US recession, ahead of the Federal Reserve's meeting on Wednesday. Heavy snow... Source: Infocious RSS raw feed - channel BNPaperBusiness | 28 Jan 2008 | 10:09 am
London shares declined sharply on Monday morning, with most rate-sensitive firms such as home builders Persimmon and Taylor Wimpey lower as investors continued to assess the outlook for interest rates.
LONDON (Reuters) - Many investors in derivatives are now hunting the best way to go short on credit based on the expectation that corporate defaults will rise this year. Source: Infocious RSS raw feed - channel BNewsBusiness | 28 Jan 2008 | 9:59 am
SEOUL (Reuters) - Hedge funds will likely yield good returns from distressed assets in 2008, while M&A-linked arbitrage would dwindle as financial market turmoil is far from over,... Source: Infocious RSS raw feed - channel BNewsBusiness | 28 Jan 2008 | 9:57 am
South African miners are expecting output to resume as early as this week, after voluntary power outages left the gold-producing industry there at a standstill.
The state of the slowing economy and how to energize it - now and beyond - will be a focal point of President Bush's State of the Union address on Monday.
Countrywide Financial Chairman and Chief Executive Angelo Mozilo, a lightening rod for criticism over the subprime-lending meltdown, on Monday said he’s giving up his $37.5 million severance package.
The Bank of England must cut interest rates sharply or watch the U.K. economy follow the U.S. down the path to a major downturn, economist David Blanchflower told a newspaper in an interview published Monday.
London equities tumbled on Monday, tracking fresh losses on Asian markets as stubborn worries about the health of the US economy and the prospects for global growth continued to bite. The FTSE 100 started... Source: Infocious RSS raw feed - channel BNPaperBusiness | 28 Jan 2008 | 9:03 am
NEW YORK (Reuters) - Countrywide Financial Corp CEO Angelo Mozilo said on Monday that he would give up $37.5 million in severance pay and other fees he stood to gain from the mortgage lender's sale to Bank of America Corp , amid criticism over his role in the U.S. mortgage meltdown.
The madness begins again as the Far East markets have managed to neatly reverse the huge rally of Friday with almost identical falls this morning; the Nikkei comes in over 500 lower and the Hang Seng another, astounding, 1000+ point day - only this time to the down side. Source: Telegraph Business | 28 Jan 2008 | 9:00 am
Fortis, the Belgo-Dutch bank, said Sunday its 2007 net profits before divestments could be lowered from 4bn ($5.9bn) to 3bn due to its subprime exposure, depending on which market scenarios apply, reports... Source: Infocious RSS raw feed - channel BNPaperBusiness | 28 Jan 2008 | 8:14 am
Professor David Blanchflower, the only member of the Bank of England's Monetary Policy Committee to vote in favour of a cut in interest rates this month, has hit out at the majority decision to hold rates saying that "worrying about inflation at this time seems like fiddling while Rome burns." Source: Telegraph Business | 28 Jan 2008 | 8:10 am
The company and others are pushing heavily into creating virtual worlds for children, eyeing subscriber revenue and brand recognition. ... Source: Infocious RSS raw feed - channel BNPaperBusiness | 28 Jan 2008 | 8:00 am
The 15th president of the Utah-based church, who led a period of intensive growth for one of the world's fastest-growing and most affluent religions, has died at the age of 97 Source: FT.com - US homepage | 28 Jan 2008 | 7:54 am
The UK economy will see its weakest period of growth in 15 years and risks a recession, a report warns. Source: BBC News | Business | World Edition | 28 Jan 2008 | 7:50 am
Belgian bank Fortis warns that its losses connected to the sub-prime sector could be as much as 1bn euros. Source: BBC News | Business | World Edition | 28 Jan 2008 | 7:09 am
Mike Farley, chief executive of Persimmon, tells Sophie Brodie that firm foundations will help it ride a difficult market Source: Telegraph Business | 28 Jan 2008 | 2:01 am
Former Dow Jones board member David Li has reached a tentative deal with US regulators to pay more than $8m to settle allegations of insider trading Source: FT.com - US homepage | 28 Jan 2008 | 2:01 am
A leading City retail analyst has predicted the death of the traditional computer shop following appalling Christmas trading statements from retailers such as PC World. Source: Telegraph Business | 28 Jan 2008 | 1:01 am
Chinese trade with Europe is about to be revolutionised by the rebirth of the old overland silk route - this time via rail. Source: Telegraph Business | 28 Jan 2008 | 1:01 am
Despite taking huge losses when it unwound Kerviel's positions the French bank is upbeat about the future and is confident he acted alone Source: Telegraph Business | 28 Jan 2008 | 12:31 am
US energy giant ConocoPhillips is looking at selling its Immingham power plant, which could fetch at least £500m. Source: Telegraph Business | 28 Jan 2008 | 12:01 am
Ted Kennedy, the influential Democratic senator and torchbearer of the Kennedy dynasty, is set to endorse Barack Obama's candidacy, in a move that could provide his Senate colleague with a critical boost a week ahead of Super Tuesday Source: FT.com - US homepage | 27 Jan 2008 | 11:47 pm
George W. Bush will acknowledge growing concerns about the US economy when he delivers his final State of the Union address on Monday night, but the president will also offer reassurance that the foundations for long-term growth remain solid Source: FT.com - US homepage | 27 Jan 2008 | 11:36 pm
Singapore's Government Investment Corporation has promised greater disclosure about its activities, amid mounting concerns about the secretive fund's influence after high-profile investments in UBS and Citigroup Source: FT.com - US homepage | 27 Jan 2008 | 11:03 pm
The intensifying credit crunch is so severe that lower interest rates alone will not be enough "to get out of the turmoil we are in", warned IMF managing director Dominique Strauss-Kahn Source: FT.com - US homepage | 27 Jan 2008 | 11:03 pm
Lawyers for Jérôme Kerviel, the French trader accused by Société Générale of massive fraud, hit back at the bank, accusing it of creating a 'smokescreen' to divert attention from other losses Source: FT.com - US homepage | 27 Jan 2008 | 10:46 pm
Fast-food giant McDonald's becomes one of the first firms to offer its own nationally recognised qualifications. Source: BBC News | Business | World Edition | 27 Jan 2008 | 3:41 pm
Reuters - U.S. retailer Sears Holdings Corp
said its chief executive Aylwin Lewis will leave the
company, effective Feb 2, the latest in a shake-up of the firm
that operates the Sears and Kmart chain of stores.
Reuters - Persistent fears about the world economy
battered global stocks again on Monday and drove investors
towards safer assets despite expectations of more interest cuts
from the Federal Reserve to bolster growth.
Reuters - Oil fell more than a dollar towards $89
a barrel on Monday as falling global stock markets amid renewed
worries about the health of the global economy spurred profit
taking.
Reuters - Stock index futures fell on Monday
following declines in overseas markets as concern about a U.S.
recession hurting the global economy lingered.