Nov 10, 2008 9:20 AM ET
Asian stocks rallied after China announced a $585 billion plan to stimulate economy, increase infrastructure spending and help farmers and small businesses. Resource stocks closed sharply higher in Australia. Heave machinery maker IHI in Japan lowered annual earnings outlook.
Nov 07, 2008 5:25 PM ET
U.S. unemployment rose in October and an index of pending home sales declined. Crude oil hovered near $60 a barrel. IMF lowered outlook for global economy. General Motors and Ford seek federal assistance but fail to trim labor costs and executive compensation. British Airways lifted revenue outlook.
Nov 07, 2008 3:47 PM ET
General Motors and Ford reported weaker than expected results and cried out for federal help but fail to trim executive compensation and labor costs. GM dropped 10% and Ford declined below $2. Dolby Laboratories dropped 4% after third quarter net rose 10%. CB Richard Ellis surges 16%.
Nov 07, 2008 2:44 PM ET
British Airways lifted its revenue guidance to 4% from earlier projection of 3% increase. However, the six-month net dropped 75%. Commodities and energy stocks rallied on an increase in crude oil and metal prices. Stocks in London trading rose 1.8%.
Nov 07, 2008 1:38 PM ET
Stocks in Mumbai rose after a week of volatile trading. The IMF lowered growth projections for India, Europe, Australia and the U.S. and said that emerging markets will still lead the world economic growth but at a slower pace. Local banks lowered interest rates on loans. Rupee gains 4% in the week.
Nov 07, 2008 5:12 PM ET
Stocks in Hong Kong rose 3.3% and in Shanghai gained 1.7% on higher trading volume. The HKMA reported that foreign exchange reserve declined in October to $155 billion from $160 billion. Banks and real estate companies increased. Hong Kong Exchange dropped on broker comments.
Nov 07, 2008 12:53 PM ET
Global economic worries and lowered IMF estimates of global growth played into early sell-off of 7% in Tokyo trading. Stocks recovered to close down 3.6% for the day and 0.1% for the week. Japan Airlines second quarter operating profit fell to 26.3 billion yen from 65 billion yen a year ago.
Nov 07, 2008 5:10 PM ET
Australian stocks fell 2.3% after the IMF lowered the growth estimate for the country to 1.8%. Australia offered emergency funding of A$22 million to ABC Learning Centers, the child care company in voluntary administration.
Nov 07, 2008 10:33 AM ET
Revenues net of interest expense rose 3% to $7.2 billion from $7.0 billion a year ago. Income from continuing operations declined 23% to $861 million from $1.1 billion a year ago. Diluted earnings per share from continuing operations declined 21% to $0.74 from $0.94 a year ago.
Nov 07, 2008 5:09 PM ET
October unemployment rate rose to 6.5% from 6.1% in September. The U.S. economy has lost 1.2 million jobs in the first ten months in the year. Total number unemployed stand at 10.1 million. Ford Motor reported a fall in revenue and a higher quarterly loss. Disney net in the quarter dropped.