Jul 10, 2009 5:01 PM ET
The new GM hopes that fewer products, cleaner balance sheet and smaller workforce will help the automaker survive in a market that may have more to shrink. Stocks closed lower for the week as prospect of global economic recoveries look slim. Chevron issued weak outlook.
Jul 10, 2009 4:12 PM ET
European markets are facing bearish investment sentiments as global economic recovery prospect dim. Italian industrial production in May was unchanged but French industrial output increased. UK wholesale prices declined. Arcelor Mittal is threatened with coal mining seizures in Siberia.
Jul 10, 2009 3:20 PM ET
Stocks in London traded lower. The June month producer price index declined at a faster pace than in May. Insurance companies stocks fell after Aviva was the subject of market rumors of imminent dividend cut.
Jul 10, 2009 12:18 PM ET
Memc Electronic Materials led gainers in the S&P 500 index with a rise of 4.8%. Infosys Technologies first quarter net profit rises but revenues edge lower. FCStone Group, Inc swings to third quarter net loss. The Shaw Group third quarter profit falls to $7.9 million.
Jul 10, 2009 11:38 AM ET
Stocks in Japan edged lower for the eight day in a row. Yen hovered at 4-month high against dollar and euro and investors turned cautious ahead of earnings next week. Investors are increasingly questioning if the four month rally has come to an end.
Jul 10, 2009 11:24 AM ET
Nike fourth quarter earnings decreased 7.3% to $4.71 billion with net income dropping 30.3% to $341.4 million due to lower sales and margins and a hefty restructuring charge. Earnings per share were 70 cents as compared to 98 cents in the year ago quarter.
Jul 10, 2009 4:32 PM ET
North India recorded weakest monsoon rainfall in June in the last 83 years. Industrial production in May increased 2.7% after April data was revised lower to increase of 1.2% from 1.4%. Infosys earnings increased 18% in the fiscal first quarter and increased the lower range of its earnings guidance.
Jul 09, 2009 5:44 PM ET
World leaders vowed to maintain the currency parity and avoid the devaluation to grow at the expense of other nations. The G-8 and G-5 leaders agreed to conclude trade talks as early as 2010. China vehicle sales surged nearly 50% in June as government eased lending.
Jul 09, 2009 4:14 PM ET
The Bank of England left its key lending rate unchanged at 0.5% and its plan to purchase assets at £125 billion. Trade deficit in goods declined to £6.3 billion but the deficit in goods and services was unchanged at 2.2 £billion. Associated British Foods third quarter revenues increased 15%.
Jul 09, 2009 11:44 AM ET
American International Group, Inc led the decliners in the S&P 500 index with a loss of 10.8%. Alcoa Inc low orders cause second quarter to post loss. Chattem, Inc second quarter net rises. Nu Horizons Electronic Corp first quarter post net loss.