Translate

Search This Blog

Search Tool




Nov 18, 2010

Ireland concedes on massive EU bailout | F & F I N | The Australian Business Briefing



Fri Nov 19 12:30:53 EST 2010


Ireland concedes on massive EU bailout
aus bus pix Ireland bailout Quentin Fottrell TOP Irish government officials acknowledged for the first time that the country is grudgingly edging toward a massive international bailout.
QR to be priced at bottom of range
QR National Michael Bennet THE institutional bookbuild for the QR National float is set to be priced at the bottom end of the range at $2.50 a share.
Telstra eyes Christmas deal on NBN
Telstra Lyndal McFarland TELSTRA says talks on its planned $11 billion deal with NBN Co are progressing well and it could have a draft agreement by Christmas.
Karoon withdraws $700m public offer
Karoon Gas Michael Bennet KAROON Gas has pulled the $700 million IPO of its South American assets due to "unfavourable financial market conditions".
GM on the road to success, says Obama
General Motors stock debut UPDATE: Jared Favole and Lynn Cowan BARACK Obama hailed today the resurgence of General Motors to the stockmarket, after the car giant's shares made a solid debut.
Kelly leads Westpac for the 'long run'
Gail Kelly, Westpac CEO Glenda Korporaal WESTPAC chief executive Gail Kelly has rejected suggestions she does not have a strategy for the country's second-largest bank.
Have-nots face permanent New Frugality
US job seekers ANALYSIS: Kathleen Madigan US businesses are pursuing a two-pronged strategy for labour: keep hiring to a minimum but loosen the purse strings for existing staff.
IMF warns Hong Kong of housing bubble
aus bus pix Hong Hong Alex Frangos THE IMF has warned that Hong Kong could face a repeat of the deflation and housing-price crash it saw in the late 1990s and early 2000s.
Financial Markets
Miners lead sharemarket higher
shares THE Australian stockmarket was up about 0.6 per cent by early afternoon, on the back of firmer commodity prices and a rally on Wall Street.
GM on the road to success, says Obama
LSE to break monopoly in derivatives
Financial Markets Coverage
Mining & Energy
Murchison jumps on Mid West funding
oakajee port and rail Sarah-Jane Tasker MURCHISON Metals has secured a $US100 million bridging facility to progress the delayed studies for its infrastructure and iron ore plans.
Karoon withdraws $700m public offer
Gold price gains as US dollar weakens
More Mining & Energy Coverage



Bernanke Latest Statements About U.S. Monetary Policy & China Currency Policy: MarketWatch - Special Financial Services

MarketWatch
SPECIAL FINANCIAL SERVICES
 
The Fed: Bernanke: Don’t call it ‘quantitative easing’
 
By Greg Robb MarketWatch


Fed chief Ben Bernanke says use of the term ‘quantitative easing’ to describe Fed bond purchases was inappropriate. Facing opposition to his program, Bernanke argues that it’s not much different from traditional monetary policy  


 
By Greg Robb MarketWatch


Fed chairman Ben Bernanke uses a speech to the European Central Bank to point the finger at China’s currency policy as the main cause of instability in the global economy. Bernanke also defends the Fed’s $600 billion bond purchase plan from criticism by foreign leaders and Republicans at home.

Some Finance Co. Up At Markets Close. Forbes: Final Glance Final Companies



Final Glance: Finance Companies

NEW YORK -- Shares of some top finance companies were up at the close of trading:
Click the link below to read the full story:

Mixed Opinions of Dell's Gross Margin Strength & Profit Sustainability. MarketWatch - Special Financial Services

MarketWatch
SPECIAL FINANCIAL SERVICES

Dell revenue growth helped by services

By MarketWatch


Consumer business is still the poorest performer in both revenue growth and profits, but reaches break-even as Dell focused on improving that business 

Stocks Surge Amid String Of Upbeat News - U.S. Commentary : RTTNews- Evening Market Wrap

Evening Market Wrap Thu Nov 18

Commentary

Nov 18, 2010 Stocks Surge Amid String Of Upbeat News - U.S. Commentary Stocks staged a substantial rally Thursday, helped by speculation that cash strapped Ireland will accept financial aid, a strong initial public offering from auto giant General Motors (GM) and a report showing a surge in manufacturing activity in the Philadelphia area. Full Article

Economic News

Nov 18, 2010 U.S. Leading Indicators Index Rises For Fourth Straight Month The Conference Board released its report on leading economic indicators in the month of October on Thursday, showing that its leading indicators index increased for the fourth consecutive month, although it increased by slightly less than economists had been expecting. The report showed that the leading indicators index rose by 0.5 percent in October, matching an upwardly revised 0.5 percent increase in September. Economists had expected the index to increase by 0.6 percent. Full Article
Nov 18, 2010 Philly Fed Index Jumps To Eleven-Month High In November Manufacturing activity in the Philadelphia area has shown considerable improvement in the month of November, the Philadelphia Federal Reserve revealed in a report on Thursday, with the index of activity in the sector surging up by much more than anticipated. The Philly Fed said its index of regional manufacturing activity jumped to 22.5 in November from 1.0 in October, with a positive reading indicator growth in the sector. Full Article
Nov 18, 2010 Weekly Jobless Claims Edge Up To 439,000 First-time claims for unemployment benefits in the U.S. saw a modest increase in the week ended November 13th, according to a report released by the Labor Department on Thursday, although the increase in initial jobless claims came in below economist estimates. The report showed that jobless claims rose to 439,000 from the previous week's revised figure of 437,000. Economists had been expecting jobless claims to increase to 442,000 from the 435,000 originally reported for the previous week. Full Article

Corporate News

Nov 18, 2010 GM Shares Up In Return To Market - UpdateShares of General Motors Co. (GM) gained more than 4% on Thursday, reflecting investor confidence in the automotive giant's ability to repay a major portion of last year's government bailout with funds from its initial public offering. Detroit, Michigan-based GM had priced its common stock in the historic initial public offering at $33 per share. Full Article
Nov 18, 2010 GameStop Profit Rises; Lifts OutlookVideo game and entertainment software retailer GameStop Corp. (GME) on Thursday reported a 4.8% increase in profit for the third quarter, reflecting higher new video game software sales. However, revenues for the quarter missed analysts' estimates. Looking ahead, the company forecasts earnings per share for the fourth quarter above analysts' expectations and raised its earnings outlook for the full year. Full Article
Nov 18, 2010 American Eagle Profit Drops 44%; Postpones Q4 Outlook ReleaseTeen clothing retailer American Eagle Outfitters, Inc. (AEO) reported Thursday that profit for the third quarter dropped 44% from last year, hurt by a significant loss from the sale of investment securities. However, adjusted earnings per share for the quarter rose and came in line with analysts' expectations, helped by strong sales and expanded margins. Full Article
Nov 18, 2010 Cardinal Health To Buy Privately Held Kinray In $1.3 Bln Cash DealHealth care products and services firm Cardinal Health, Inc. (CAH) said Thursday that it plans to buy privately held pharmaceutical distributor Kinray, Inc. for $1.3 billion, in an all-cash transaction. The deal is expected to significantly expand the company's offerings to retail independent pharmacies in the northeastern US. The company would complete the takeover by the end of the calendar year or early in 2011, subject to customary closing conditions and regulatory approvals. Full Article
Nov 18, 2010 Cardinal Health To Buy Privately Held Kinray In $1.3 Bln Cash DealHealth care products and services firm Cardinal Health, Inc. (CAH) said Thursday that it plans to buy privately held pharmaceutical distributor Kinray, Inc. for $1.3 billion, in an all-cash transaction. The deal is expected to significantly expand the company's offerings to retail independent pharmacies in the northeastern US. The company would complete the takeover by the end of the calendar year or early in 2011, subject to customary closing conditions and regulatory approvals. Full Article
Nov 18, 2010 J.M. Smucker Profit Up; Raises Earnings ForecastJelly and coffee maker J. M. Smucker Co. (SJM) reported Thursday a higher second-quarter profit, as lower volume was more than offset by increased margins and price growth. Adjusted net income surpassed the market estimates, while net sales missed their view. The company also lifted its fiscal 2011 adjusted earnings forecast. The owner of Smucker's, Folgers, Pillsbury brands said its net income for the second quarter grew 7% to $149.73 million from $139.99 million last year. On a per share basis, earnings increased 6% to $1.25 from prior year's $1.18. Full Article
Nov 18, 2010 Williams-Sonoma Profit Surges; Boosts OutlookHigh-end kitchen products retailer Williams-Sonoma Inc. (WSM) announced better-than-expected results on Thursday, as its third quarter profit surged from last year, boosted by higher margins, lower expenses and 12% revenue growth. Sales at established stores also increased 8.1%. Both adjusted earnings per share and revenues for the quarter topped analysts' expectations. The company also raised its earnings and revenue forecast for the fourth quarter and the full-year 2010. Full Article
Nov 18, 2010 Sears Holdings Q3 Loss WidensRetailer Sears Holdings Corp.(SHLD) reported Thursday a wider loss for the third quarter, reflecting lower sales of apparel and appliances. Bruce Johnson, the company's interim chief executive officer and president said in a statement, "While Kmart improved profitability, our third quarter results were disappointing, in large part due to lower sales of apparel and appliances at Sears. Our seasonal apparel sales were down, with the unusually warm weather being a contributing factor." Full Article
Nov 18, 2010 Staples Quarterly Profit Up; Lifts ForecastStaples, Inc. (SPLS), the world's largest office products company, Thursday said its third-quarter profit grew 7%, which mainly reflected improved performance by North American Delivery, even though overseas sales disappointed. Adjusted earnings and top line also beat market estimates. Further, the company raised its earnings forecast for fiscal 2010, while maintained fiscal 2011 outlook. Full Article
Nov 18, 2010 IC 2010 NYC: Zucker Discusses Time At NBC UniversalJeff Zucker, the departing leader of NBC Universal, spoke Wednesday on his time at the helm of the company and his plans for life after NBCU's impending merger with Comcast. In a one-on-one conversation with Jim Cramer, host of CNBC's Mad Money, Zucker said his greatest achievement was the creation of a cable powerhouse at NBCU. Full Article

Political News

Nov 18, 2010 Obama Presses Senate To Ratify New Nuclear Treaty With RussiaPresident Barack Obama Thursday sought to ratchet up the pressure on the Senate to ratify a new nuclear weapons reduction treaty with Russia before the end of the year. The ratification came into question this week after Sen. Jon Kyl, R-Ariz., the Republican whip in the Senate and the member to whom much of the GOP looks to on nuclear weapons issues, proclaimed that the treaty was too complicated and had too many outstanding issues to be resolved in the "lame duck" session. Full Article
Nov 18, 2010 Reid To Bring "Don't Ask, Don't Tell" Repeal, DREAM Act, To Senate FloorSenate Majority Leader Harry Reid, D-Nev., said Wednesday that he intends to move ahead on bills to repeal the military's "Don't Ask, Don't Tell" policy and to provide a path to citizenship for young illegal immigrants during the lame-duck session of Congress. While Reid is likely to face Republican opposition to both measures, the bills would likely have an even smaller chance of passing when the Democrats have a smaller majority beginning in January. Full Article
Nov 18, 2010 House Republicans Adopt Earmark Ban For The 112th CongressHouse Republicans unanimously decided Wednesday to join their Senate colleagues in adopting a ban on earmarks in the 112th Congress set to begin in January. The move extends an earmark ban the House GOP initiated earlier this year. Full Article

Stocks Surge on Prospect of Rescue for Ireland.:NYT : Afternoon Business News



BUSINESS:

Stocks Surge on Prospect of Rescue for Ireland

By CHRISTINE HAUSER and DAVID JOLLY
Investors were also watching General Motors' stock rise after the biggest public offering in the nation's history.

Portugal Looms as Next Bailout Candidate

By STEVEN ERLANGER and RAPHAEL MINDER
The country is perceived to be as weak a link in the euro zone as Ireland, though for different reasons.
DealBook

2 Former Madoff Aides Are Arrested

By PETER LATTMAN
Bernard L. Madoff's longtime personal secretary and one of his former top aides are expected to be charged on Thursday.
DealBook

The Fear Factor in the Muni Bond Market

By HEIDI N. MOORE
Prices of municipal bonds have fallen sharply, pushing up yields, as investors perceive increasing risks from cities and states. But a market meltdown does not seem to be at hand -- yet.

Japan Works to Push Organized Crime Out of Business

By HIROKO TABUCHI
Experts said that Japan's crackdown on organized crime was long overdue, but that getting the mafia out of business would be difficult.

Stocks rise on eased concerns over Europe | F & F I N | Reuters- Daily Investor Update




From : Reuters - Daily Investor Update


Stocks rise on eased concerns over Europe
Dell profit and margin top Wall Street estimates
GM shares jump in post-IPO return to market
Gap stands by 2010 forecast as shares fall
Fed officials circle wagons around QE2
Lawmakers hit banks and regulators on foreclosures
Ex-car czar Rattner sued by Cuomo, settles with SEC
Boeing 787 delay already in stock price: analysts
RIM's PlayBook piques interest of core customers
Debris from Qantas A380 engine severed cables: memo

GM drives higher as debut defies fears | F & F I N | The Australian Business Briefing




GM drives higher as debut defies fears
General Motors stock debut UPDATE: Lynn Cowan GENERAL MOTORS opened 6 per cent higher in its initial public offering debut, vanquishing any fears that the shares had been priced too high.
 
Wall St surges on Ireland talks, GM
Wall Street UPDATE: Steven Russolillo US stocks soared today as worries about Ireland's debt situation eased and General Motors made its long-awaited return to the Big Board.
 
Kelly leads Westpac for the 'long run'
Gail Kelly, Westpac CEO Glenda Korporaal WESTPAC chief executive Gail Kelly has rejected suggestions she does not have a strategy for the country's second-largest bank.
 
Locking banks to RBA rate 'dangerous'
RBA Ric Battellino Andrew Burrell RESERVE Bank deputy governor Ric Battellino has launched a strong defence of the major banks against claims they are gouging customers.
 
BHP on warpath over rail sharing
BHP rail trucks Sarah-Jane Tasker and Matt Chambers BHP Billiton has declared war by launching court action to stop a move by iron ore minnow FerrAus to gain access to its Pilbara rail line.
 
Woolies goes shopping for acquisitions
woolies goes Andrew Fraser WOOLWORTHS has underlined its determination to fight off domestic and international competitors, saying it is open to "major" acquisitions.
 
Axa board unanimous for AMP offer
Revised Axa bid Scott Murdoch AMP has secured the takeover target's dissident director's backing for its offer, paving the way for a likely win in its $14bn bid for Axa.
 
Offshore interest boosts QR float price
QR National Andrew Fraser and Andrew Main STRONG buying interest in the QR National float from overseas specialist fund managers yesterday helped push up the bookbuild price.
 
Financial Markets
Wall St surges on Ireland talks, GM
Wall Street UPDATE: Steven Russolillo US stocks soared today as worries about Ireland's debt situation eased and General Motors made its long-awaited return to the Big Board.
 
Gold price gains as US dollar weakens
GM drives higher as debut defies fears
 
Financial Markets Coverage
 
Mining & Energy
Gold price gains as US dollar weakens
gold Tatyana Shumsky GOLD settled in positive territory today on a weaker US dollar and a more certain outlook for Ireland's debt woes.
 
Infigen chair has no time for questions
Attack-dog tactics as juniors seek access
 
More Mining & Energy Coverage