(NEW YORK) Senator Barack Obama signalled on Sunday that he would return his focus to the economy after a whirlwind foreign tour, but Senator John McCain's eyes remained very much fixed on national security, repeatedly attacking his rival.
Tuesday, July 29, 2008
Sunday, July 27, 2008
NY sues UBS, alleges auction-rate fraud
(NEW YORK) New York State sued UBS AG on Thursday, accusing the Swiss bank of committing a 'multi-billion dollar fraud' by steering broker clients into auction-rate securities that became impossible to sell once the credit market tightened.
Friday, July 25, 2008
UK Q2 growth dips as housing slumps
(LONDON) British economic growth slowed as expected in the second quarter of this year to its weakest rate in three years as private housebuilding slumped, the Office for National Statistics (ONS) said yesterday.
Thursday, July 24, 2008
Why nine is magic number for consumers
(PARIS) Retailers' belief that customers like a price ending in a nine rather than a rounded-up zero - 199.99 instead of 200.00, for instance - has been borne out by scientific research on a restaurant menu.
Tuesday, July 22, 2008
Bosnian Serb war-crimes suspect Karadzic nabbed
(BELGRADE) War-crimes fugitive Radovan Karadzic was arrested on Monday near Belgrade posing as a doctor of alternative medicine, sporting long hair, a beard and glasses to hide his face, officials said yesterday.
Sunday, July 20, 2008
Microsoft trims profit outlook, shares fall 6%
(LOS ANGELES) Microsoft posted a quarterly profit and outlook below Wall Street expectations on Thursday, citing 'tough' economic conditions, and its shares fell 6 per cent.
Friday, July 18, 2008
Construction code quirk lifts US housing starts
(WASHINGTON) Permits and groundbreakings for new homes unexpectedly rose in June after a downturn in residential construction, the government said on Thursday.
Wednesday, July 16, 2008
Intel Q2 profit soars 25% to US$1.6b
(NEW YORK) Intel Corp, the world's biggest chipmaker, reported a 25 per cent rise in second-quarter profit and gave a sales forecast that topped analysts' estimates after demand grew worldwide for personal computer processors.
Tuesday, July 15, 2008
iPhone sales may have hit 425,000 in first 3 days
(SAN FRANCISO) Apple may have sold as many as 425,000 of its new iPhones in the first three days after the handset made its debut, in line with projections even after a technical breakdown.
Sunday, July 13, 2008
Yahoo rejects sale offer from Microsoft, Icahn
(SAN FRANCISCO) Yahoo Inc on Saturday rejected a proposal to sell its search business to Microsoft Corp and hand over the remainder of the company to activist investor Carl Icahn.
Thursday, July 10, 2008
Goldman Sachs withdraws from IIF after fair value criticism
(LONDON) Goldman Sachs Group Inc said on Wednesday it had withdrawn from the leading international banking lobby Institute for International Finance (IIF), which it earlier criticised over its plans to change fair value accounting rules.
US hedge funds fall in H1; dive in mutual funds
(BOSTON) US hedge funds, which often promise to make money in all markets, were in the red during the first half of the year but did not lose nearly as much as mutual funds, according to data released on Tuesday.
Wednesday, July 9, 2008
Worse to come as mortgage firms' shares dive
(NEW YORK) As home prices decline and Washington struggles to end the economic malaise, Wall Street is starting to send a sobering message: The worst is yet to come.
Tuesday, July 8, 2008
GE CEO given six months to save job
(BANGALORE) General Electric Co's chief executive Jeff Immelt has been given six months to save his job, the New York Post said on Sunday, citing three major institutional investors speaking on condition of anonymity.
Monday, July 7, 2008
Rich set to get richer when markets improve
THE rich and super rich will increase their share of the world's wealth when markets eventually turn upwards.
Sunday, July 6, 2008
US credit card industry overhaul appears likely
(WASHINGTON) Consumer advocates say regulation of the US credit card industry has long been without teeth. But as card holders struggle under the weight of big balances, high interest rates and fees, their pleas to lawmakers for help may well mean that the industry will face some significant regulation by early next year.
Friday, July 4, 2008
Merrill may be forced to sell BlackRock stake
(NEW YORK) Merrill Lynch may not want to sell its US$10 billion stake in top performing money manager BlackRock. But it may have no alternative.
Thursday, July 3, 2008
Citi sees more UBS writedowns
(ZURICH) UBS may post US$6.9 billion of additional writedowns and seek to raise more capital, Citigroup Inc said yesterday after UBS chairman, Peter Kurer told Swiss newspaper Finanz & Wirtschaft on Wednesday that the Swiss bank will not need more funds.
Wednesday, July 2, 2008
Lehman mired in talk about being sold at discount
(NEW YORK) Lehman Brothers Holdings has been the subject of market speculation that it may soon be sold for less than its market price, traders said.
Tuesday, July 1, 2008
Global profit warnings could be next shoe to drop
(NEW YORK) Big US multinationals riding high on revenue from overseas operations may find that wave is about to break. For the past year, the stock market has rewarded those companies that have been able to offset subpar US performance with stellar overseas profits. But recently, that has not been enough to keep investors happy.
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