Feb 23, 2009 2:53 PM ET
XL fourth quarter net loss increased 17.2% to $1.43 billion on operating income of $189.5 million. Earnings per share declined to $4.36 from $6.88 in the quarter a year ago. The company took a goodwill charge of $990 million of which $975 million was related to Mid Ocean acquisition.
Feb 23, 2009 3:34 PM ET
European market indexes closed lower despite an attempt by financial stocks to rally failed to lift indexes and sector stocks. Banks and auto led the decliners in Germany and France. Renault debt rating was lowered. France will invest capital to support the merger of two largest savings banks.
Feb 23, 2009 1:30 PM ET
Stocks in UK and in Europe declined as persistent worries related banking sector remain on top of investors list. Northern Rock reports a loss of £1.4 billion. Royal Bank of Scotland to split into two units in the hopes that the segregating the troubled portfolio of loans will save costs.
Feb 23, 2009 12:23 PM ET
Fifth Third Bancorp led gainers in the S&P 500 index with a rise of 41.5%. Campbell Soup Company second quarter profits fall 15%. Developers Diversified Realty Corporation slips to loss in fourth quarter. Broker views lifted Motorola and Expedia but ArcelorMittal falls.
Feb 23, 2009 11:03 AM ET
Stocks in Hong Kong closed higher on the speculation that the U.S. may increase its stake in the troubled lender Citigroup. The benchmark index in jumped 3.8% and in Shanghai increased 3.4%. Macao gambling revenues in January declined 5.3%. Gold in the region traded above $1,000 price.
Feb 23, 2009 10:19 AM ET
Stocks in Tokyo declined on active trading after SFCG filed for bankruptcy, the largest bankruptcy by a publicly traded company in seven years. In Tokyo trading Nikkei 225 index fell 0.5%. The convenience store sales increased 7% in January on rising sales of tobacco.
Feb 23, 2009 3:30 PM ET
Stocks in Australia dropped on negative earnings outlook from Fairfax Media and a loss estimate from BlueScope Steel. In Sydney, ASX 200 index lost 1.5%. The mining giant, BHP Billiton reduced its headquarter count as the demand and prices of metals decline but operating costs remain high.
Feb 21, 2009 4:55 AM ET
The bakery café restaurateur quarterly revenues increased 19% to $358 million on comparable store sales of 2.7%. Net income rose 43% to $26 million in the quarter. Earnings per share increased to 84 cents from 56 cents from a year ago. The company opened 32 bakery cafes during the quarter.
Feb 20, 2009 6:43 PM ET
World markets declined with persistent worries of bank nationalization in the U.S. and the size of the bailout of banks in Eastern Europe. Gold price crossed $1,000 an ounce and market indexes in Europe drop to five-year lows. Stocks in Japan drop to 24-year lows. Corporate earnings remain weak.
Feb 20, 2009 6:01 PM ET
European stocks fell on a weakness in financial stocks as the financial outlook deteriorated and prospect of another rate cut dimmed. A manufacturing and services survey in France showed that both sectors contracted at a rapid rate in February.