PARIS (Reuters) - France's economy minister said Societe Generale, reeling from losses blamed on a rogue trader, is a bank in crisis and may need to ditch its chairman.
Reuters - Stock index futures rose on Tuesday as
investors looked forward to another interest rate cut from the
Federal Reserve this week to help cure the economy's ills.
NEW YORK (Reuters) - Stock index futures rose on Tuesday as investors looked forward to another interest rate cut from the Federal Reserve this week to help cure the economy's ills.
Among the companies whose shares are expected to see active trade in Tuesday's session are American Express, Eli Lilly, Meritage Homes, Occidental Petroleum, Pepsi Bottling, Plum Creek, SanDisk, Unisys, VMWare and Zoran.
NEW YORK (Reuters) - Printer maker Lexmark International Inc reported on Tuesday a higher quarterly net profit and predicted better-than-expected first quarter earnings, sending shares up more than 10 percent.
One early Wednesday morning last July, when the subprime mortgage meltdown first began to rock the markets, I found myself sitting with investing legend Julian Robertson in the cabin of his Gulfstream V jet in Auckland, New Zealand. We were en route to one of the two world-class golf courses he has built in the island nation. But his mind was on the markets halfway around the world. As the flight crew prepared for takeoff and his wife Josie and their other guests found their seats, the 75-year-old billionaire used his mobile phone to check in with his office back in New York. "How are the subprime positions looking?" he asked excitedly. "Mm-hmm. Wonderful."
Reuters - Eli Lilly and Co on Tuesday
said fourth-quarter profit rose on higher-than-expected sales
of its medicines, including strong demand for its newer
treatments for depression, diabetes and cancer.
NEW YORK (Reuters) - Eli Lilly and Co on Tuesday said fourth-quarter profit rose on higher-than-expected sales of its medicines, including strong demand for its newer treatments for depression, diabetes and cancer.
Reuters - 3M Co said on Tuesday
fourth-quarter earnings fell as last year's results included a
gain for selling a business. Source: Yahoo! News: Business | 29 Jan 2008 | 12:42 pm
Internet providers do not have to give music firms the names of illegal file-sharers, rules Europe's top court. Source: BBC News | Business | World Edition | 29 Jan 2008 | 12:35 pm
London shares moved higher on Tuesday morning, with miners some of the strongest advancers ahead of this week’s interest-rate decision from the U.S. Federal Reserve.
NEW YORK (Reuters) - EMC Corp , the world's biggest maker of corporate storage gear, said on Tuesday its fourth-quarter profit rose on the back of strong revenue growth across a broad range of products.
Reuters - Dow Chemical Co said on
Tuesday that fourth-quarter earnings fell 52 percent, hurt by
weak U.S. housing and auto markets, spiraling energy and raw
material costs, and one-time restructuring charges.
NEW YORK (Reuters) - Dow Chemical Co said on Tuesday that fourth-quarter earnings fell 52 percent, hurt by weak U.S. housing and auto markets, spiraling energy and raw material costs, and one-time restructuring charges.
BRUSSELS (Reuters) - Managing risk within a bank is not just a matter of relying on internal processes but also requires taking the right decisions at the top of the company, Citigroup Chairman Win Bischoff said on Tuesday.
NEW YORK (Reuters) - Pepsi Bottling Group Inc said on Tuesday that quarterly net profit fell, as it took charges related to restructuring and disposing of some vending machines.
LONDON (MarketWatch) - European shares looked likely to rise for the third time in six sessions on Tuesday, lifted by gains for financial and mining firms a day before an interest rate decision from the U.S. Federal Reserve.
European and Asian shares rise on growing expectations that the US Federal Reserve will cut interest rates. Source: BBC News | Business | World Edition | 29 Jan 2008 | 12:17 pm
LONDON (Reuters) - Oil climbed above $91 on Tuesday as stock markets rose on hopes of a fresh U.S. interest rate cut, with forecasts there will be a draw in U.S. distillate stocks and no change in OPEC output offering additional support.
John Hutton made one important concession to BSkyB this morning, when he announced that the satellite company would have to forfeit an estimated £250m by selling most of its ITV shareholding. Source: Telegraph Business | 29 Jan 2008 | 12:15 pm
The pound rose to its highest level against the dollar so far this year on Tuesday after a report calmed fears over the UK retail sector, dousing expectations of a series of aggressive UK interest rate... Source: Infocious RSS raw feed - channel BNPaperBusiness | 29 Jan 2008 | 12:09 pm
Profits slump 25% at Japanese electronics giant Toshiba because of tough conditions in the computer chip market. Source: BBC News | Business | World Edition | 29 Jan 2008 | 12:07 pm
LONDON (MarketWatch) - U.S. stock futures pointed to an uncertain start Tuesday as the Federal Reserve starts to deliberate on interest-rate policy, though tech-darling VMware Corp. could be in for a tough session after its 80% revenue growth wasn't enough to satiate investor expectations.
Daniel Bouton, chairman and chief executive of Socit Gnrale, on Tuesday faced growing political calls for him to quit amid revelations about 45m ($66.5m) of share sales by a director on the day the bank... Source: Infocious RSS raw feed - channel BNPaperBusiness | 29 Jan 2008 | 12:00 pm
Christine Lagarde, France's finance minister, said SocGen was in 'a crisis situation' and directors should 'consider whether the person in place is the best to steer the ship when she is pitching, or whether the captain should be changed' Source: FT.com - US homepage | 29 Jan 2008 | 12:00 pm
Reuters - British sweets-to-DVDs retailer
Woolworths Plc said it had replaced management at its
EUK wholesale unit, as an analyst said he expects the company
to announce the renegotiation of its bulging debt shortly. Source: Yahoo! News: Business | 29 Jan 2008 | 11:58 am
Shares in London rose on Tuesday thanks to a rebound in the mining sector. Banks added their weight after an upbeat trading update from Alliance & Leicester, the mortgage lender. By late morning,... Source: Infocious RSS raw feed - channel BNPaperBusiness | 29 Jan 2008 | 11:53 am
AP - Japan issued mixed economic data Tuesday in government figures for jobs, spending and sales in December, and officials responded cautiously amid other signs economic growth is slowing. Source: Yahoo! News: Business | 29 Jan 2008 | 11:51 am
The Financial Services Authority has warned that the global credit crunch has ramped up the risks of a rogue trader scandal, such as the Société Générale affair, washing up on British shores. Source: Telegraph Business | 29 Jan 2008 | 11:45 am
The January sales achieved only small growth in High Street activity, according to an industry survey. Source: BBC News | Business | World Edition | 29 Jan 2008 | 11:21 am
Societe Generale was warned about alleged rogue trader Jerome Kerviel last year, a prosecutor says. Source: BBC News | Business | World Edition | 29 Jan 2008 | 11:18 am
World stock markets cranked back into gear on Tuesday, recovering some of their recent heavy losses as investors pinned their hopes on another US interest rate cut. Asian and Source: Infocious RSS raw feed - channel BNewsBusiness | 29 Jan 2008 | 11:17 am
LONDON (MarketWatch) -- The dollar traded mixed Tuesday, the eve of a Federal Reserve decision on interest rates, as the currency market awaited fresh U.S. economic data on durable-goods orders, house prices and consumer confidence.
Citigroup said Tuesday that it had completed its move to take full control of Japanese brokerage house Nikko Cordial Corp., overcoming hurdles from financial difficulties at the US... Source: Infocious RSS raw feed - channel BNewsBusiness | 29 Jan 2008 | 11:03 am
Reuters - France's economy minister said Societe
Generale , reeling from losses blamed on a rogue
trader, is a bank in crisis and may need to ditch its chairman.
TOKYO (Reuters) - NTT DoCoMo Inc booked a 35 percent gain in quarterly profit as marketing costs dropped, but falling revenues showed the pain of a price war as Japan's biggest mobile... Source: Infocious RSS raw feed - channel BNewsBusiness | 29 Jan 2008 | 10:57 am
BRUSSELS (Reuters) - Managing risk within a bank is not just a matter of relying on internal processes but also requires taking the right decisions at the top of the company, ... Source: Infocious RSS raw feed - channel BNewsBusiness | 29 Jan 2008 | 10:54 am
The number of U.S. homes that slipped into some stage of foreclosure in 2007 was 79 percent higher than in the previous year, a real estate tracking company said Tuesday. Many homeowners... Source: Infocious RSS raw feed - channel BNewsBusiness | 29 Jan 2008 | 10:50 am
Sanctuary, the female spa and body care brand, has been sold for £75 million to PZ Cussons, the consumer products group. Source: Telegraph Business | 29 Jan 2008 | 10:50 am
Europe's leading exchanges rose in opening trade, helped by overnight gains on Wall Street amid rising hopes of a fresh cut in US interest rates, with Prudential an early gainer after posting stronger-than-expected full-year sales.
NTT DoCoMo Inc booked a 35 per cent gain in quarterly profit as marketing costs dropped, but falling revenues showed the pain of a price war as Japan's biggest mobile phone operator lost ground to nimbler... Source: Infocious RSS raw feed - channel BNPaperBusiness | 29 Jan 2008 | 10:44 am
Gold and platinum both hit fresh record highs, lifted by expectations of a cut in US interest rates. Source: BBC News | Business | World Edition | 29 Jan 2008 | 10:39 am
Japanese electronics group Toshiba Corp posted a worse-than-expected 25 per cent drop in quarterly operating profit after tumbling flash memory chip prices ate into margins. The world's No.2 NAND flash... Source: Infocious RSS raw feed - channel BNPaperBusiness | 29 Jan 2008 | 10:39 am
Japan's top mobile phone carrier NTT DoCoMo said Tuesday its profit rose 38.4 percent in the October-December quarter, buoyed by the introduction of new subscription services and... Source: Infocious RSS raw feed - channel BNewsBusiness | 29 Jan 2008 | 10:38 am
India's outsourcing industry on Tuesday set itself the goal of lifting revenue almost five-fold to 50 billion dollars by the end of 2012 by tapping new markets and a booming local economy. Source: Infocious RSS raw feed - channel BNewsBusiness | 29 Jan 2008 | 10:21 am
The British government ruled on Tuesday that media giant BSkyB must cut its holding in independent television broadcaster ITV to below 7.5 percent, as recommended by competition... Source: Infocious RSS raw feed - channel BNewsBusiness | 29 Jan 2008 | 10:16 am
NEW YORK (Reuters) - More than 1 percent of all households faced foreclosure during 2007, almost twice the previous year's rate, a real estate marketing company said on Tuesday. Source: Infocious RSS raw feed - channel BNewsBusiness | 29 Jan 2008 | 10:13 am
India's central bank keeps interest rates on hold, saying inflation is still the main threat. Source: BBC News | Business | World Edition | 29 Jan 2008 | 10:06 am
The dollar held steady on Tuesday as currency markets awaited the Federal Reserve's decision on US interest rates. The dollar lost ground on Monday following dire US housing figures that showed new home... Source: Infocious RSS raw feed - channel BNPaperBusiness | 29 Jan 2008 | 10:05 am
President Bush, citing concerns about the country's economic future, called Monday for swift passage of a $150 billion program intended to counter slowing growth.
More than a quarter of US iPhones have been "unlocked" to work on rival networks, a study says. Source: BBC News | Business | World Edition | 29 Jan 2008 | 9:52 am
Banks and miners helped European equities markets recover on Tuesday, as a combination of strong metals prices and hopes for a US rate cut helped lift the mood. The FTSE Eurofirst 300 was 1.2 per cent... Source: Infocious RSS raw feed - channel BNPaperBusiness | 29 Jan 2008 | 9:46 am
Mitchells & Butlers, owner of All Bar One and Harvester, loses £274m linked to a failed spin-off of property assets. Source: BBC News | Business | World Edition | 29 Jan 2008 | 9:42 am
Societe Generale chief Daniel Bouton may face a tough task holding onto his job at a board meeting later in the week after the bank’s reputation took a further blow over its $7 billion loss.
Many Asia Pacific stock markets bounced back strongly on Tuesday, tracking overnight gains on Wall Street on fresh optimism that the US Federal Reserve will cut interest rates on Wednesday, though gains... Source: Infocious RSS raw feed - channel BNPaperBusiness | 29 Jan 2008 | 9:29 am
A close above 5815 (and preferably above 5920), will give many technical traders the confidence to get involved once more but, as mentioned many times, the temptation to just sit out the current crazy conditions may keep the big investors on the side lines. Source: Telegraph Business | 29 Jan 2008 | 9:15 am
British Sky Broadcasting, the pay TV operator, was on Tuesday ordered by the government to reduce its stake in ITV, the broadcaster. The move by John Hutton, business secretary, supports a ruling last... Source: Infocious RSS raw feed - channel BNPaperBusiness | 29 Jan 2008 | 9:11 am
Gold prices on Tuesday hit their third consecutive fresh all-time high, boosted by ongoing supply disruption in South Africa, the world's second largest producer, and expectations of further interest... Source: Infocious RSS raw feed - channel BNPaperBusiness | 29 Jan 2008 | 9:11 am
FT.com - London equities rose in opening trade on Tuesday, with mining stocks boosted by record prices for gold and platinum. Source: Yahoo! News: Business | 29 Jan 2008 | 9:00 am
Most Asian markets bounced back Tuesday following a strong recovery on Wall Street, with financials pacing gains, led by Mitsubishi UFJ Financial Group in Tokyo, Kookmin Bank in Seoul, HSBC Holdings in Hong Kong and China Life Insurance in Shanghai.
Satellite broadcaster BSkyB will today be ordered to ditch more than half its stake in terrestrial rival ITV after a year of wrangling with competitors and regulators. Source: Telegraph Business | 29 Jan 2008 | 8:45 am
The government rules that BSkyB must reduce its share holding in ITV from 17.9% to below 7.5%. Source: BBC News | Business | World Edition | 29 Jan 2008 | 8:29 am
President George W. Bush struck an optimistic tone on progress in Iraq and the long-term outlook for the US economy as he delivered his final State of the Union address Source: FT.com - US homepage | 29 Jan 2008 | 5:15 am
Arnold Schwarzenegger's plan to introduce comprehensive health insurance in California at a cost of $15bn lay in tatters when the state's legislature voted to block the proposal Source: FT.com - US homepage | 29 Jan 2008 | 2:20 am
The CME Group confirmed that it is in preliminary talks to buy energy exchange Nymex for about $11bn in a deal that would solidify its position as the world's most important futures market Source: FT.com - US homepage | 29 Jan 2008 | 1:14 am
AP - McDonald's Corp. showed its first sign of vulnerability to the U.S. economic slowdown Monday and uneasy investors responded by selling off the fast-food chain's stock despite its booming international sales and healthy $1.27 billion profit. Source: Yahoo! News: Business | 28 Jan 2008 | 11:43 pm
Citigroup has signed an agreement with a Chinese partner to establish a mainland investment banking joint venture, ahead of an expected opening of the sector to more overseas participation Source: FT.com - US homepage | 28 Jan 2008 | 10:00 pm
Efforts to shore up US bond insurers gathered pace as New York state regulators appointed investment bankers to advise on a rescue plan that could provide back-up credit lines for the troubled guarantors Source: FT.com - US homepage | 28 Jan 2008 | 8:56 pm
Blackstone Group's $7.8bn buy-out of Alliance Data Systems has been thrown into doubt by regulators, leading the share price of the credit card operator and manager of loyalty programmes to plunge Source: FT.com - US homepage | 28 Jan 2008 | 7:00 pm
Reuters - Stock index futures rose on Tuesday as
investors looked forward to another interest rate cut from the
Federal Reserve this week to help cure the economy's ills.
Reuters - Eli Lilly and Co on Tuesday
said fourth-quarter profit rose on higher-than-expected sales
of its medicines, including strong demand for its newer
treatments for depression, diabetes and cancer.
Reuters - Dow Chemical Co said on
Tuesday that fourth-quarter earnings fell 52 percent, hurt by
weak U.S. housing and auto markets, spiraling energy and raw
material costs, and one-time restructuring charges.
Reuters - France's economy minister said Societe
Generale , reeling from losses blamed on a rogue
trader, is a bank in crisis and may need to ditch its chairman.