Stocks cap an enormous July run with a mixed finish as economy shrinks at a slower paceNEW YORK — New hope for the economy just gave the stock market its best July in 20 years. US Steel reports another quarterly loss as steel demand remains muted despite recent uptickPITTSBURGH — United States Steel Corp. became the latest American steel company to report a loss in the April-June quarter as the slumping economy continued to drag down the industry’s biggest customers. McLeod Russel eyeing plantations in AfricaKOLKATA - The world’s largest tea producer McLeod Russel India is eyeing plantations in Africa, a top company official said here Tuesday. China seeks assurances that US budget deficits will not threaten their holdings of US debtWASHINGTON — Treasury Secretary Timothy Geithner said Tuesday that the United States and China have reached agreement on the need to work toward more balanced global growth once the current economic crisis has ended. F5 Networks expects 4th-quarter profit above analyst expectationsSEATTLE — F5 Networks Inc., which makes products that manage and route computer network traffic, said Wednesday it expects fiscal fourth-quarter profit above analyst expectations. European stocks slip as markets take stock on earnings, Fed statement; Asian indexes riseLONDON — Stock markets slipped in Europe on Wednesday and rose only modestly in Asia, as investors stepped back from a week-long rally fueled by upbeat earnings to assess the outlook for corporate profits amid a still-weak global economy. Alstom Q1 sales rise 7 percent; orders drop 27 percent as recession curbs power market demandPARIS — Alstom SA, one of the world’s largest power and transport engineering firms, said Thursday that revenue in the April-June quarter rose 7 percent as it took payments from past orders. The outlook was not encouraging, however, with new orders falling 27 percent. Oil falls below $60 after weak outlook on demand, anemic expectation for earnings seasonNEW YORK — Oil prices sank below $60 a barrel Friday, ending a week in which crude has fallen more than 10 percent on growing pessimism about the economy and also the well-being of companies about to report second-quarter earnings. Dollar climbs on mixed IMF outlook, consumer borrowing as investors seek safe havensNEW YORK — The dollar continued to climb Wednesday as investors moved more assets into the safety of the American currency after consumers trimmed borrowing in May for the fourth straight month and the International Monetary Fund gave a mixed outlook on the economy. USDA: Cotton acreage hits lowest level since 1983, amid continued interest in corn, soybeansNEW ORLEANS — U.S. farmers planted their fewest cotton acres since 1983 — just over 9 million — amid a continued swapping of acres for better priced and less-costly-to-produce crops such as corn and soybeans. US stock futures point to slightly higher open as investors await the week’s key economic dataNEW YORK — Investors are looking to start a holiday-shortened week on a positive note. Home Depot says full-year earnings from continuing ops may beat previous forecastCHICAGO — Home Depot Inc. said Wednesday that its full-year earnings from continuing operations may come in better than previously forecast, thanks to a combination of individual homeowners spending more and stronger overall sales. Remy Cointreau reports 12.5 pct fall in full-year profit owing to destocking by customersParis-based wine and spirits group Remy Cointreau reported Wednesday a 12.5 percent fall in full-year net profit, owing to substantial destocking by customers and costs associated with its exit from distribution network Maxxium. Tiffany 1st-quarter earnings fall 62 pct but matches view on sluggish consumer spendingNEW YORK — Jewelry retailer Tiffany & Co. said Friday that its first-quarter profit plunged 62 percent as sales tumbled, particularly in the U.S., as consumers continued to shy away from luxury purchases. MGM Mirage taps Kerkorian to buy new shares and puts up Bellagio, Mirage to raise $2.5B in allLAS VEGAS — Casino operator MGM Mirage said Wednesday that it would tap its majority shareholder, billionaire Kirk Kerkorian, and use two of its most famous resorts as collateral to help raise $2.5 billion in capital as it fights to save itself and pay down some of its $14 billion in debt. Wall Street storms higher on relief over jobs data, results of bank tests; Dow jumps 165NEW YORK — Stocks soared Friday as Wall Street cheered the positive news it had been hoping for: Job losses slowed in April and big banks don’t need as much capital as some had feared. All the major indicators rose more than 1 percent, including the Dow Jones industrial average, which jumped 150 points. Stocks move higher despite worse-than-expected reading on the economyNEW YORK — Investors aren’t letting a bad report on the economy get to them. British economy shrinks 1.9 percent in first quarter, biggest decline in nearly 30 yearsLONDON — The British economy shrank in the first quarter at its sharpest rate since the early days of Margaret Thatcher’s government 30 years ago as the financial crisis continued to wreak havoc on banks, retailing and manufacturing. Restaurant operator Yum Brands offer ambitious expansion plan overseasLOUISVILLE, Ky. — Yum Brands Inc.’s stock surged Thursday as the operator of Taco Bell, Pizza Hut and KFC laid out ambitious plans for overseas expansion and offered an upbeat outlook for its U.S. business despite a sluggish first quarter. RBI paints grim picture ahead of policy reviewMUMBAI - The Reserve Bank of India (RBI) has painted a bleak forecast for the economy in its macro-economic report released Monday, saying business expectations for the coming months were ‘less than optimistic’ and that economic growth would continue to be moderate on account of the global financial crisis. RBI chief meets Pranab, assures more stepsNEW DELHI - The Reserve Bank of India (RBI) Monday said it was closely monitoring the economic scenario and would take ‘appropriate policy action as may be necessary’. US economy faces ‘unusually prolonged’ recoveryWASHINGTON - The United States’ economy would face an ‘unusually gradual and prolonged’ period of recovery as it struggles to climb out of a deep global downturn, the US central bank has warned. Highlights of interim budget presented in Lok SabhaNEW DELHI - Following are the highlights of the interim budget presented by Minister for External Affairs Pranab Mukherjee in the Lok Sabha Monday: Wall Street gains as GMAC gets government fundsNEW YORK - US stocks gained after the Treasury Department said it would commit $6 billion to support GMAC LLC, the financing arm of General Motors Corp, to save the ailing car giant from bankruptcy. Bleak start to the week for equities marketsMUMBAI - Indian equities markets made a disappointing start to the week as a key index fell more than 140 points by around noon Monday. |
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