Jun 05, 2009 3:45 PM ET
BHP Billiton and Rio Tinto agreed to form a joint venture to share haulage resources and iron ore mines in Pilbara region of Western Australia. Fortescue and BC Iron also agreed on a similar deal. Australian xenophobic lawmakers in the end scuttled the deal with China.
Jun 05, 2009 1:50 PM ET
As commodities and crude oil prices reached 30-week high, stocks in the energy complex in Tokyo gained.Shippers after rallying for more than twelve weeks closed lower. Trading companies closed higher after crude oil prices closed up.
Jun 05, 2009 12:25 PM ET
U.S. stocks traded up and down after the release of unemployment report. Boston Properties sold 15 million shares. Wal-Mart plans to buy back $15 billion of its stocks. Rio Tinto increased after it scrapped its merger with Chinalco and planned to raise $15 billion.
Jun 05, 2009 11:08 AM ET
The unemployment rate surged to 25-year high as manufacturing sheds jobs. The monthly job losses of 345,000 were less than half of the average in the prior six months. Healthcare is the only segment that added workers.
Jun 05, 2009 10:45 AM ET
The jewelry retailer total revenues decreased 20.5% to $379 million on comparable-store sales decline of 20% in the quarter. Net quarterly loss increased 33% to $23.2 million. The company lost 73 cents per share compared to a loss of 42 cents per share the prior-year quarter.
Jun 05, 2009 9:50 AM ET
Stocks in India closed higher for the thirteenth week in a row. The global rally in stocks and commodities and Parliament election results sustained investor enthusiasm. Businesses and investors are hoping that the government budget will focus on infrastructure spending.
Jun 04, 2009 6:27 PM ET
Investors are increasingly looking for direction in commodities and currencies markets. Stocks after eleven-week rally appear to face headwind but speculation in silver, gold, crude oil and agriculture markets has lifted prices to six-month highs. European central banks leave rates on hold.
Jun 04, 2009 5:10 PM ET
The European Central Bank and the Bank of England left their interest rates unchanged. Retail sales in the EU-16 area edged up in April from March but unemployment in France increased to 9.1%.
Jun 04, 2009 2:58 PM ET
Mining stocks declined in London trading after the $15.5 billion between Australia based Rio Tinto and China based Chinalco may have been canceled. The Bank of England left its key lending rate unchanged. Home prices in May increased 2.6% and lifted financial and real estate stocks.
Jun 04, 2009 1:18 PM ET
Australia recorded a surprise trade deficit in April. The largest Australian deal between Rio Tinto and China based Chinalco of $19.5 billion appear to have collapsed. Rio Tinto is expected to raise $15 billion in public offering or a deal with BHP Billiton.