Dec 12, 2008 3:26 PM ET
Stocks in London dropped 2.6% after mortgage lender HBOS reported larger than expected loss in the interim period. Majority shareholders approved merger of the troubled lender with Lloyds TBS Group. UK is likely to provide second stimulus package as reluctant banks are not increasing lending.
Dec 12, 2008 12:47 PM ET
Industrial production in India drops 0.4% in October as domestic economy slows. Foreign investors were net buyers of stocks in the last four weeks. World Bank is expected to lend $14 billion over the next three years to step up infrastructure development in poor states.
Dec 12, 2008 9:26 AM ET
European markets traded sharply lower and Japan dropped more than 5% after the U.S. Senators failed to agree on need for a bailout for the auto makers. Japanese auto makers dropped on the worries that parts suppliers in the U.S. may not be able to survive and crimp their production abilities.
Dec 12, 2008 9:08 AM ET
American Eagle Outfitters, apparel retailer reported sales for the third quarter increased 1% to $754.0 million. Comparable store sales decreased 7%. Net income declined to $42.60 million or $0.21 per share compared to $99.43 million or $0.45 per share a year ago.
Dec 12, 2008 5:54 PM ET
Stocks in Tokyo plunged after the U.S. auto bailout discussions failed to produce a consensus among the U.S. Senate Republicans. Stocks plunged 5.6% but for the week rose 4%. Japanese automakers dropped sharply on the worries that U.S. auto parts makers that supply to Japanese companies may suffer.
Dec 10, 2008 11:15 PM ET
National Institute for Economic and Social Research noted that the UK output fell 1% in the quarter to November from a revised forecast of 0.8% in the three months to October, as the rate of output decline accelerates. Rio Tinto will expand its divestment program and pay down its $10 billion.
Dec 09, 2008 10:43 PM ET
Canadian Solar, solar panel maker third quarter revenues rose 160% to $252.4 million for the third quarter. Net income surged to $11.1 million or $0.31 per diluted share compared to $0.52 million or $0.02 per share a year ago. The company estimates annual revenue of $650 to $750 million.
Dec 11, 2008 10:29 PM ET
Financial software maker reported first quarter net loss of $52.1 million compared or 16 cents per share compared to a loss of $20.8 million or 6 cents a share in the year ago quarter. Revenue rose 8% to $481 million. For the second quarter, the company estimated diluted earnings per share between $0.30 and $0.32.
Dec 10, 2008 7:58 PM ET
Stocks in India rose on the hopes that global and local stimulus package will sustain economic expansion and corporate earnings growth. Recent rate cuts are likely to increase lending for home buyers and small businesses. Rupee strengthned against dollar. Real estate, banks and IT stocks advanced.
Dec 11, 2008 6:20 PM ET
U.S. international trade deficit widened in October as exports fell more than imports. Seasonally adjusted initial unemployment claims at the end of last week rose 58,000 to 573,000 from the previous week claims of 515,000. Bank of America said it will cut up to 30,000 jobs in the next three years.