(Bloomberg) -- The following stocks may rise or fall in the Persian Gulf Arab states today. Stock symbols are in parentheses and prices are from yesterday's close.
The Morgan Stanley Capital International GCC Countries Index added 0.5 percent to 579.73. Saudi Arabia's Tadawul was little changed, gaining less than 0.1 percent. Kuwait's benchmark advanced 0.5 percent, while in the United Arab Emirates Dubai's main index rose 2.4 percent.
Read more at Bloomberg Stocks News
Wednesday, May 9, 2007
UPDATE 1-EADS Q1 earnings plunge on Airbus restructuring
(Reuters) - The group, whose profits slumped last year on the back of a weak dollar and industrial problems at Airbus, said earnings before interest and tax dropped to 89 million euros from 791 million in the year-ago quarter.
The Airbus unit posted an operating loss of 69 million euros, down from a profit of 684 million euros in the first quarter last year.
Read more at Reuters.com Market News
The Airbus unit posted an operating loss of 69 million euros, down from a profit of 684 million euros in the first quarter last year.
Read more at Reuters.com Market News
Pertamina to Keep Importing Sudanese, Libyan Crude Oil in Third Quarter
(Bloomberg) -- PT Pertamina, Indonesia's state oil company, will maintain imports of Sudan's Nile Blend and Libya's Sarir crude for delivery in the third quarter, said traders involved in negotiations with the company.
Pertamina will replace Vietnam's Bach Ho with Brunei's Champion crude to be supplied by Pertamina Energy Trading Ltd., or Pertral, said the traders who asked not to be identified.
Read more at Bloomberg Energy News
Pertamina will replace Vietnam's Bach Ho with Brunei's Champion crude to be supplied by Pertamina Energy Trading Ltd., or Pertral, said the traders who asked not to be identified.
Read more at Bloomberg Energy News
Palm Oil Rises to Highest in More Than Eight Years on Forecast for Exports
(Bloomberg) -- Palm oil futures in Malaysia, the world's largest grower last year, rose to their highest in more than eight years after an estimate of higher exports of the commodity from the Southeast Asian nation.
The country exported 8.1 percent more palm oil in the first 10 days of May than a month earlier, independent cargo surveyor Intertek said today. A total of 463,865 tons were shipped compared with 428,985 tons last month, it said.
Read more at Bloomberg Commodities News
The country exported 8.1 percent more palm oil in the first 10 days of May than a month earlier, independent cargo surveyor Intertek said today. A total of 463,865 tons were shipped compared with 428,985 tons last month, it said.
Read more at Bloomberg Commodities News
U.S. March Trade Gap Probably Grew to $60 billion on Higher Energy Prices
(Bloomberg) -- The U.S. trade deficit widened in March for the first time in three months as the cost of imported crude oil rose, economists said before a government report today.
The gap between imports and exports grew to $60 billion from $58.4 billion in February, according to the median forecast in a Bloomberg News survey of 78 economists. A separate report today may show higher fuel costs lifted import prices in April.
Read more at Bloomberg Currencies News
The gap between imports and exports grew to $60 billion from $58.4 billion in February, according to the median forecast in a Bloomberg News survey of 78 economists. A separate report today may show higher fuel costs lifted import prices in April.
Read more at Bloomberg Currencies News
Japan's Government Bonds May Decline on Concern Interest Rates to Increase
(Bloomberg) -- Japan's government notes fell for a fifth day, the longest decline since December, on speculation the central bank will increase interest rates as the Federal Reserve keeps borrowing costs at a six-year high.
Japanese debt tracked a drop in Treasuries after the U.S. Federal Reserve said inflation remains its predominant concern and kept interest rates unchanged for a seventh meeting. Bank of Japan Governor Toshihiko Fukui said in parliament today that the bank will ``gradually adjust interest rates.''
Read more at Bloomberg Bonds News
Japanese debt tracked a drop in Treasuries after the U.S. Federal Reserve said inflation remains its predominant concern and kept interest rates unchanged for a seventh meeting. Bank of Japan Governor Toshihiko Fukui said in parliament today that the bank will ``gradually adjust interest rates.''
Read more at Bloomberg Bonds News
South Korea's Economy to Grow 4.4 Percent, State-Run Research Agency Says
(Bloomberg) -- South Korea's economy is forecast to expand 4.4 percent this year, helped by rising exports and a pickup in consumer spending, state-run think tank Korea Development Institute said.
Economic growth is likely to accelerate to 4.5 percent in the third quarter and 4.7 percent in the fourth quarter from a 4 percent expansion in the first three months, the institute said in a report in Seoul today. Exports are likely to rise 10.5 percent this year, while private consumption will probably gain 4.2 percent, it said.
Read more at Bloomberg Emerging Markets News
Economic growth is likely to accelerate to 4.5 percent in the third quarter and 4.7 percent in the fourth quarter from a 4 percent expansion in the first three months, the institute said in a report in Seoul today. Exports are likely to rise 10.5 percent this year, while private consumption will probably gain 4.2 percent, it said.
Read more at Bloomberg Emerging Markets News
Oaktree plans stake sale, trade on private market -WSJ
(Reuters) - The firm will sell a stake of about 13 percent at between $40 and $44 a unit, the paper reported.
Oaktree could not immediately be reached for comment.
Read more at Reuters.com Mergers News
Oaktree could not immediately be reached for comment.
Read more at Reuters.com Mergers News
UPDATE 2-Store costs weigh on Whole Foods quarterly profit
(Reuters) - Profit fell to $46 million, or 32 cents per share, in the fiscal second quarter ended April 8, from $51.8 million, or 36 cents per share, a year earlier.
Analysts, on average, expected it to earn 36 cents per share, according to Reuters Estimates.
Read more at Reuters.com Bonds News
Analysts, on average, expected it to earn 36 cents per share, according to Reuters Estimates.
Read more at Reuters.com Bonds News
American Express creates $60 mln legal reserve
(Reuters) - American Express said the Miami unit has been cooperating with investigators. The company said it established the reserve in the first quarter. It disclosed the reserve in its quarterly report filed with the U.S. Securities and Exchange Commission.
Read more at Reuters.com Bonds News
Read more at Reuters.com Bonds News
Merck's HPV shot protects for three years -studies
(Reuters) - "Investigators in these trials have hit their mark soundly: the vaccine showed significant efficacy against anogenital and cervical lesions," Dr. George Sawaya and Dr. Karen Smith-McCune of the University of California, San Francisco, wrote in a commentary in the New England Journal of Medicine, where the studies appear. "The vaccine also appears safe."
) Keywords: MERCK GARDASIL/
Read more at Reuters.com Government Filings News
) Keywords: MERCK GARDASIL/
Read more at Reuters.com Government Filings News
UPDATE 1-Turkcell net profit jumps 45 percent in Q1
(Reuters) - Revenues rose 14 percent to $1.3 billion, while average revenue per user dipped to $12.1 from $12.2.
Turkcell's subscriber base grew 12 percent on an annual basis to 32.2 million from 28.7 million. Chief Executive Sureyya Ciliv, who has been in the job since January, said the number of new subscriptions was a record for any first quarter.
Read more at Reuters.com Market News
Turkcell's subscriber base grew 12 percent on an annual basis to 32.2 million from 28.7 million. Chief Executive Sureyya Ciliv, who has been in the job since January, said the number of new subscriptions was a record for any first quarter.
Read more at Reuters.com Market News
UPDATE 1-FMC Technologies first-quarter profit climbs
(Reuters) - The provider of services to the energy industry posted a quarterly profit of $61.3 million, or 89 cents a share, compared with $47.0 million, or 67 cents a share, in the year-ago quarter.
The Houston-based company said its quarterly income from continuing operations in the first quarter of 2007 was 90 cents a share.
Read more at Reuters.com Market News
The Houston-based company said its quarterly income from continuing operations in the first quarter of 2007 was 90 cents a share.
Read more at Reuters.com Market News
Moody's may cut Boston Scientific to junk status
(Reuters) - Drug-eluting stents prop open diseased arteries and emit drugs to prevent re-clogging. Use of drug-eluting stents has fallen to 69.5 percent of all stent procedures from a peak in the high 80s, according to Boston Scientific.
"We believe that Boston Scientific's drug-eluting stent sales trends will face additional uncertainty as competitive risk increases over the near term," Moody's said in a statement.
Read more at Reuters.com Bonds News
"We believe that Boston Scientific's drug-eluting stent sales trends will face additional uncertainty as competitive risk increases over the near term," Moody's said in a statement.
Read more at Reuters.com Bonds News
UPDATE 2-Finnish town votes against E.ON nuclear plant
(Reuters) - "The town council voted 16-11 against the deal," Loviisa city head Olavi Kaleva said.
"The decision was a bit of a surprise ... Part of the nuclear power supporters turned against it."
Read more at Reuters.com Mergers News
"The decision was a bit of a surprise ... Part of the nuclear power supporters turned against it."
Read more at Reuters.com Mergers News
Dollar Little Changed as Federal Reserve Says Inflation Predominant Risk
(Bloomberg) -- The dollar was little changed against the euro and yen after the Federal Reserve said in its statement inflation remains its predominant concern, reducing speculation on a cut in borrowing costs later this year.
The Fed held its benchmark rate steady at 5.25 percent for a seventh straight meeting since raising it to that level in June. Traders expect the European Central Bank will signal tomorrow a boost in borrowing costs is likely next month.
Read more at Bloomberg Currencies News
The Fed held its benchmark rate steady at 5.25 percent for a seventh straight meeting since raising it to that level in June. Traders expect the European Central Bank will signal tomorrow a boost in borrowing costs is likely next month.
Read more at Bloomberg Currencies News
S&P raises CMS Energy's rating to investment grade
(Reuters) - "CMS's regulated operations provide a significant amount of operating income and cash flow and have a sound business profile," S&P said. "The utility is characterized by constructive regulation, good current liquidity after recent asset sales and a back-to-basics management focus."
Those strengths are partly offset by the company's significant electric generation capacity needs over the near term, and well over $1 billion in parent debt, S&P said.
Read more at Reuters.com Bonds News
Those strengths are partly offset by the company's significant electric generation capacity needs over the near term, and well over $1 billion in parent debt, S&P said.
Read more at Reuters.com Bonds News
US STOCKS-Blue chips rise, boosted by M&A, before Fed
(Reuters) - NEW YORK, May 9 - U.S. blue-chip stocks rose on Wednesday as optimism about possible takeovers and a drop in oil prices tempered caution ahead of the Federal Reserve's interest-rate decision.
The Fed's policy statement, expected at 2:15 p.m. , may provide clues about the outlook for rates this year. Policy-makers are expected to hold the benchmark overnight federal funds rate target steady at 5.25 percent.
Read more at Reuters.com Bonds News
The Fed's policy statement, expected at 2:15 p.m. , may provide clues about the outlook for rates this year. Policy-makers are expected to hold the benchmark overnight federal funds rate target steady at 5.25 percent.
Read more at Reuters.com Bonds News
CVS nominees elected to board despite opposition
(Reuters) - Proxy advisers including Institutional Shareholder Services had called for votes against Headrick and Piccolo, due to what they felt was a flawed merger process overseen by Caremark's board.
CVS, which is based in Woonsocket, Rhode Island, could not be immediately reached to confirm the voting results.
Read more at Reuters.com Mergers News
CVS, which is based in Woonsocket, Rhode Island, could not be immediately reached to confirm the voting results.
Read more at Reuters.com Mergers News
News Corp. to be "carbon neutral" by 2010
(Reuters) - "Climate change poses clear catastrophic threats," Murdoch said at a news conference. "We might not agree on extent, but we certainly can't afford the risk of inaction."
Murdoch said his own company generated some 641,150 tons of carbon output in 2006, according to its internal studies.
Read more at Reuters.com Business News
Murdoch said his own company generated some 641,150 tons of carbon output in 2006, according to its internal studies.
Read more at Reuters.com Business News
Oil Falls to a Seven-Week Low on Larger-Than-Expected U.S. Inventory Gain
(Bloomberg) -- Crude oil fell to the lowest in seven weeks in New York after an Energy Department report showed larger-than-expected gains in U.S. oil and fuel inventories.
Oil supplies surged 5.5 million barrels to 341.2 million barrels, last week, the highest since June, the report showed. Gasoline inventories rose 372,000 barrels to 193.5 million barrels, the first gain in 13 weeks. Crude-oil supplies were expected to climb by 875,000 barrels and gasoline stockpiles by 150,000 barrels, according to a Bloomberg News survey.
Read more at Bloomberg Energy News
Oil supplies surged 5.5 million barrels to 341.2 million barrels, last week, the highest since June, the report showed. Gasoline inventories rose 372,000 barrels to 193.5 million barrels, the first gain in 13 weeks. Crude-oil supplies were expected to climb by 875,000 barrels and gasoline stockpiles by 150,000 barrels, according to a Bloomberg News survey.
Read more at Bloomberg Energy News
UPDATE 1-Red Hat partners with IBM on mainframe computing
(Reuters) - The agreement covers versions of Red Hat's Linux operating system, which computing giant International Business Machines Corp. has agreed to promote for use on System z, its most powerful line of business computers.
"This is a competitive win for Red Hat," said Trip Chowdhry, an analyst with Global Equities Research. "It shows that Red Hat is getting closer to IBM."
Read more at Reuters.com Market News
"This is a competitive win for Red Hat," said Trip Chowdhry, an analyst with Global Equities Research. "It shows that Red Hat is getting closer to IBM."
Read more at Reuters.com Market News
UPDATE 1-Total links Sanofi stake sale to Plavix ruling
(Reuters) - "We would prefer to wait for the result of this judgment before doing something," a Total spokeswoman said on Wednesday, citing remarks Chief Financial Officer Robert Castaigne made to analysts last week.
Castaigne's remarks were reported in France's Challenges magazine.
Read more at Reuters.com Mergers News
Castaigne's remarks were reported in France's Challenges magazine.
Read more at Reuters.com Mergers News
UPDATE 1-Morgan Stanley settles SEC best execution case
(Reuters) - The Wall Street firm failed to provide the best execution for more than 1.2 million transactions valued at about $8 billion from 2001 through 2004, the market regulator said.
Morgan Stanley settled the SEC's allegations without admitting or denying any wrongdoing. It also agreed to cease and desist from committing future violations.
Read more at Reuters.com Government Filings News
Morgan Stanley settled the SEC's allegations without admitting or denying any wrongdoing. It also agreed to cease and desist from committing future violations.
Read more at Reuters.com Government Filings News
Gold Futures Fall as Higher Prices Deter Jewelery Makers; Silver Declines
(Bloomberg) -- Gold futures fell the most in almost two weeks in New York on speculation that higher prices will reduce demand from jewelers, the biggest users of the metal. Silver also declined.
Jewelry demand, which accounts for about 70 percent of gold purchases, dropped 17 percent last year as gold climbed to a 26-year high of $732 an ounce, according to London-based researcher GFMS Ltd. Purchases from India, the biggest buyer, may slow after gold climbed to an 11-month high of $698 on April 20, analysts say. Gold has still risen 7.1 percent this year.
Read more at Bloomberg Commodities News
Jewelry demand, which accounts for about 70 percent of gold purchases, dropped 17 percent last year as gold climbed to a 26-year high of $732 an ounce, according to London-based researcher GFMS Ltd. Purchases from India, the biggest buyer, may slow after gold climbed to an 11-month high of $698 on April 20, analysts say. Gold has still risen 7.1 percent this year.
Read more at Bloomberg Commodities News
TI raises profit margin targets as shares jump
(Reuters) - Chief Executive Rich Templeton, at a conference with analysts in Texas, also repeated the company's aim for earnings to grow faster than revenue.
TI has cited improvements to its manufacturing strategy and an increasing share of the analog chip market as reasons for improving profitability.
Read more at Reuters.com Hot Stocks News
TI has cited improvements to its manufacturing strategy and an increasing share of the analog chip market as reasons for improving profitability.
Read more at Reuters.com Hot Stocks News
UPDATE 1-Argentina sets $500 mln-$750 mln bond auction
(Reuters) - The government said in April it would issue up to $2.5 billion in Bonar X bonds. Thursday's auction is the second tranche.
Offers will be accepted until 2:00 p.m. on Thursday, the ministry said in a statement. The minimum offer amount is $50,000.
Read more at Reuters.com Bonds News
Offers will be accepted until 2:00 p.m. on Thursday, the ministry said in a statement. The minimum offer amount is $50,000.
Read more at Reuters.com Bonds News
CVS/Caremark authorizes up to $5 bln in buybacks
(Reuters) - CVS offered $35 per share in the tender offer, which was made as part of its sweetened bid for Caremark. The shares traded at around $34 per share in late March, when the tender offer began, but moved above $35 in early April. The stock was up 2.3 percent at $37.84 on the New York Stock Exchange Wednesday.
Read more at Reuters.com Mergers News
Read more at Reuters.com Mergers News
UPDATE 1-Emageon warns of '07 loss; shares hit year-low
(Reuters) - Emageon, which had earlier forecast a profit view, said the lower bookings were largely due to delays on the part of its customers and potential customers as opposed to competitive losses.
For 2007, Emageon now expects to post a net loss of $3.7 million to $4.9 million, or 17 to 22 cents a share, on revenue of $112 million to $115 million. Excluding charges, it expects to earn 35 cents to 40 cents a share.
Read more at Reuters.com Market News
For 2007, Emageon now expects to post a net loss of $3.7 million to $4.9 million, or 17 to 22 cents a share, on revenue of $112 million to $115 million. Excluding charges, it expects to earn 35 cents to 40 cents a share.
Read more at Reuters.com Market News
Gaps narrowing in WTO talks, but too slowly - Lamy
(Reuters) - Gaps are narrowing in World Trade Organisation (WTO) talks on a global trade pact, but at too slow a pace, WTO chief Pascal Lamy said on Wednesday.
Lamy, who sees end-2007 as the deadline for a deal, said there were signs the United States, the European Union, India and other key members were beginning to give some ground.
Read more at Reuters Africa
Lamy, who sees end-2007 as the deadline for a deal, said there were signs the United States, the European Union, India and other key members were beginning to give some ground.
Read more at Reuters Africa
Angola Boosts Value of Currency to Contain Inflation, Standard Bank Says
(Bloomberg) -- Angola, sub-Saharan Africa's second largest oil producer, boosted the value of its currency, the kwanza, by 6 percent to curb inflation, less than two weeks after it said the currency would be devalued to boost growth.
The country decided to increase the value of the currency to 75.3 per dollar, the level it was trading at by 3:04 p.m. in Luanda, from 79.7 to the U.S. currency late yesterday, analysts from Standard Bank Ltd., Africa's largest lender by assets, wrote in an e-mailed report today. Deputy Prime Minister Aguinaldo Jaime said April 26 the currency would be devalued.
Read more at Bloomberg Currencies News
The country decided to increase the value of the currency to 75.3 per dollar, the level it was trading at by 3:04 p.m. in Luanda, from 79.7 to the U.S. currency late yesterday, analysts from Standard Bank Ltd., Africa's largest lender by assets, wrote in an e-mailed report today. Deputy Prime Minister Aguinaldo Jaime said April 26 the currency would be devalued.
Read more at Bloomberg Currencies News
Cisco drags stocks lower as Fed on tap
(Reuters) - Cisco, the world's largest maker of equipment that directs Internet traffic, issued an outlook in line with forecasts, but analysts said investors had hoped for a positive surprise. Its shares fell 5 percent and were the top drag on the S&P 500 and Nasdaq 100 indexes.
"Obviously, the Cisco situation was somewhat disappointing, and that's raining on tech land, but I think the market needs to pause," said Stephen Massocca, co-chief executive at San Francisco-based investment bank Pacific Growth Equities. "We've had a tremendous, dramatic rally, so it's not difficult to think the market would pause."
Read more at Reuters.com Business News
"Obviously, the Cisco situation was somewhat disappointing, and that's raining on tech land, but I think the market needs to pause," said Stephen Massocca, co-chief executive at San Francisco-based investment bank Pacific Growth Equities. "We've had a tremendous, dramatic rally, so it's not difficult to think the market would pause."
Read more at Reuters.com Business News
Chile economists raise '07 GDP forecast to 5.7 pct
(Reuters) - The 5.7 percent figure in the survey was the median forecast of 34 academics, consultants and experts from financial institutions polled by the bank.
The government's own forecast for economic growth in 2007 is also 5.7 percent.
Read more at Reuters.com Bonds News
The government's own forecast for economic growth in 2007 is also 5.7 percent.
Read more at Reuters.com Bonds News
Detroit's Contrarian Condo Builders, Buyers Sense an Opportunity Downturn
(Bloomberg) -- Bob Bartlett is buying a million- dollar condominium atop a historic hotel in Detroit -- the U.S. city with the highest unemployment rate, the worst violent-crime rate and thousands of abandoned houses.
It's a city that outsiders underestimate, he says.
Read more at Bloomberg Exclusive News
It's a city that outsiders underestimate, he says.
Read more at Bloomberg Exclusive News
FDA seeks more data from Dendreon as shares plunge
(Reuters) - The drop comes just over a month after the stock more than doubled in a single session when a U.S. Food and Drug Administration advisory panel recommended approval.
Dendreon said the FDA had issued a so-called "approvable letter" for Provenge but wanted additional clinical data in support of its efficacy claim. It also requested more information about chemistry, manufacturing and controls.
Read more at Reuters.com Hot Stocks News
Dendreon said the FDA had issued a so-called "approvable letter" for Provenge but wanted additional clinical data in support of its efficacy claim. It also requested more information about chemistry, manufacturing and controls.
Read more at Reuters.com Hot Stocks News
Countrywide April loans up 11 percent
(Reuters) - Like many lenders, Calabasas, California-based Countrywide has tightened its loan guidelines, and in March it stopped making some no-down-payment subprime loans. Just 7 percent of loans were nonprime from January to March, and Countrywide expects that rate to fall as low as 4 percent this quarter.
Lenders are struggling with rising defaults as U.S. home prices stagnate and investors grow less willing to buy loans that are packaged into securities. Rising subprime home loan defaults contributed to a 37 percent decline in Countrywide's first-quarter profit, to $434 million.
Read more at Reuters.com Business News
Lenders are struggling with rising defaults as U.S. home prices stagnate and investors grow less willing to buy loans that are packaged into securities. Rising subprime home loan defaults contributed to a 37 percent decline in Countrywide's first-quarter profit, to $434 million.
Read more at Reuters.com Business News
GLOBAL MARKETS-Investors on hold as Fed rate decision looms
(Reuters) - LONDON, May 9 - Global share markets gave up gains on Wednesday as a looming interest rate decision from the U.S. Federal Reserve prompted caution despite speculation of a mining mega-merger and strong company earnings.
The dollar and government bonds were little moved and U.S. stock futures were pointing to a steady start on Wall Street as traders trimmed their bets ahead of the Fed's 1815 GMT announcement.
Read more at Reuters.com Bonds News
The dollar and government bonds were little moved and U.S. stock futures were pointing to a steady start on Wall Street as traders trimmed their bets ahead of the Fed's 1815 GMT announcement.
Read more at Reuters.com Bonds News
UPDATE 1-Multimedia Games 2nd-quarter profit falls
(Reuters) - The slot machines maker earned $6,000, compared with $2.5 million a year ago. On a per-share basis, it broke even, compared with a profit of 9 cents last year.
Revenue fell to $30.7 million from $46.5 million.
Read more at Reuters.com Market News
Revenue fell to $30.7 million from $46.5 million.
Read more at Reuters.com Market News
German 2008 Electricity Prices Advance, Trading Near Highest This Year
(Bloomberg) -- German electricity for next year rose for the third time in four days to trade near its highest since December, tracking stronger European emission allowances and coal prices, which climbed to their highest since 2005.
Next-year baseload power prices in Germany, Europe's biggest market, gained as much as 25 cents, or 0.5 percent, to 55.85 euros ($75.61) a megawatt-hour and traded at 55.75 euros at 9:25 a.m. Berlin time, according to broker GFI Group Inc. Yesterday the contract reached 55.95 euros, its highest this year.
Read more at Bloomberg Energy News
Next-year baseload power prices in Germany, Europe's biggest market, gained as much as 25 cents, or 0.5 percent, to 55.85 euros ($75.61) a megawatt-hour and traded at 55.75 euros at 9:25 a.m. Berlin time, according to broker GFI Group Inc. Yesterday the contract reached 55.95 euros, its highest this year.
Read more at Bloomberg Energy News
European Stocks Retreat; Shares of Aegon, Danone and Ericsson Pace Decline
(Bloomberg) -- European stocks dropped, led by Aegon NV, Groupe Danone SA and Ericsson AB.
The Dow Jones Stoxx 600 Index declined 0.2 percent to 388.96 as of 1:10 p.m. in London after gaining as much as 0.6 percent earlier. The Stoxx 50 was little changed. The Euro Stoxx 50, a measure for the 13 nations sharing the euro, retreated 0.1 percent.
Read more at Bloomberg Stocks News
The Dow Jones Stoxx 600 Index declined 0.2 percent to 388.96 as of 1:10 p.m. in London after gaining as much as 0.6 percent earlier. The Stoxx 50 was little changed. The Euro Stoxx 50, a measure for the 13 nations sharing the euro, retreated 0.1 percent.
Read more at Bloomberg Stocks News
Rupiah Rises as Central Bank Is `Not Worried'; South Korean Won Declines
(Bloomberg) -- Indonesia's rupiah gained to the strongest in almost a year after the central bank said it's not worried about the currency's appreciation.
The rupiah reversed losses after Governor Burhanuddin Abdullah said exporters and importers are comfortable if the currency trades between 8,500 and 9,500. The rupiah has advanced 2.9 percent in the past five days, the best performer among the 15 most-traded Asia-Pacific currencies, on speculation Bank Indonesia will let it rise faster.
Read more at Bloomberg Currencies News
The rupiah reversed losses after Governor Burhanuddin Abdullah said exporters and importers are comfortable if the currency trades between 8,500 and 9,500. The rupiah has advanced 2.9 percent in the past five days, the best performer among the 15 most-traded Asia-Pacific currencies, on speculation Bank Indonesia will let it rise faster.
Read more at Bloomberg Currencies News
Dollar Little Changed Against Euro, Yen Before Fed Interest-Rate Verdict
(Bloomberg) -- The dollar was little changed against the yen and the euro after investors adjusted currency positions before central bank policy announcements in the U.S. and Europe.
The policy meetings of the Federal Reserve today and the European Central Bank tomorrow heightened the risk of increasing so-called carry trades. Both central banks will probably leave interest rates unchanged, prompting traders to focus on their outlook statements.
Read more at Bloomberg Currencies News
The policy meetings of the Federal Reserve today and the European Central Bank tomorrow heightened the risk of increasing so-called carry trades. Both central banks will probably leave interest rates unchanged, prompting traders to focus on their outlook statements.
Read more at Bloomberg Currencies News
Egyptians Play Chicken With Bird Flu Virus on Government Conspiracy Rumors
(Bloomberg) -- Cairo teacher Adel Abdel Azim's affection for his chickens may end up killing him.
When the Egyptian government outlawed raising poultry on roofs and balconies in February of last year to curb bird flu, he whisked his brood straight into his bedroom. He plies them with aspirin and tea to ward off the disease.
Read more at Bloomberg Exclusive News
When the Egyptian government outlawed raising poultry on roofs and balconies in February of last year to curb bird flu, he whisked his brood straight into his bedroom. He plies them with aspirin and tea to ward off the disease.
Read more at Bloomberg Exclusive News
Boeing deal off as India Flyington signs with Airbus
(Reuters) - "At this point in time, we are not going ahead with Boeing," T. Venkattram Reddy, chairman of Flyington Freighters, told Reuters on the sidelines of the signing ceremony with Airbus.."
Flyington Freighters will pay $175 million for each Airbus plane, said Kiran Rao, executive vice-president for marketing and contracts, customer affairs at Airbus.
Read more at Reuters.com Business News
Flyington Freighters will pay $175 million for each Airbus plane, said Kiran Rao, executive vice-president for marketing and contracts, customer affairs at Airbus.
Read more at Reuters.com Business News
Zambia's Mufulira mine resumes partial output
(Reuters) - Zambia's Mufulira copper mine has resumed partial output after floods halted production at one of its shafts, a government official said on Tuesday.
Dyford Muulwa, district commissioner for Mufulira town, told Reuters that partial operations had restarted at the shaft, which was submerged for nearly three weeks.
Read more at Reuters Africa
Dyford Muulwa, district commissioner for Mufulira town, told Reuters that partial operations had restarted at the shaft, which was submerged for nearly three weeks.
Read more at Reuters Africa
Nedbank's Q1 earnings up, sees higher bad debts
(Reuters) - South Africa's Nedbank lifted its first-quarter headline earnings per share (EPS) by 26.3 percent, helped by solid retail and corporate lending growth but said it expected bad debts to increase.
Nedbank, majority-owned by insurer Old Mutual, said on Wednesday its headline EPS increased to 322 cents per share while on a fully-diluted basis headline EPS rose 25 percent to 310 cents.
Read more at Reuters Africa
Nedbank, majority-owned by insurer Old Mutual, said on Wednesday its headline EPS increased to 322 cents per share while on a fully-diluted basis headline EPS rose 25 percent to 310 cents.
Read more at Reuters Africa
India's Monsoon Rains May Reach Eastern Coast a Week Early, Boosting Crops
(Bloomberg) -- India's monsoon, which provides water for two-thirds of the nation's farmland, may reach the eastern coast a week earlier than normal, encouraging farmers to plant crops such as rice, oilseed and cotton.
Rains may fall over parts of southeast Bay of Bengal and south Andaman Sea from May 11 or the following day, M. Rajeevan, director at the India Meteorological Department's National Climate Centre said in an interview from Pune. Rains typically start in that area by May 18, according to the office.
Read more at Bloomberg Commodities News
Rains may fall over parts of southeast Bay of Bengal and south Andaman Sea from May 11 or the following day, M. Rajeevan, director at the India Meteorological Department's National Climate Centre said in an interview from Pune. Rains typically start in that area by May 18, according to the office.
Read more at Bloomberg Commodities News
Repsol Is Holding Talks With Possible Investors in Argentine Unit YPF
(Bloomberg) -- Repsol YPF SA, Europe's fifth-largest oil company, is holding talks with investors interested in buying stakes in its Argentine unit, YPF.
The Madrid-based producer, which plans to keep control of YPF, is also considering selling shares in the unit through a public offering, Chairman Antonio Brufau said today at the company's annual shareholders' meeting. He didn't name any potential buyers or say when the sale will take place.
Read more at Bloomberg Emerging Markets News
The Madrid-based producer, which plans to keep control of YPF, is also considering selling shares in the unit through a public offering, Chairman Antonio Brufau said today at the company's annual shareholders' meeting. He didn't name any potential buyers or say when the sale will take place.
Read more at Bloomberg Emerging Markets News
Nice Systems first-quarter earnings rise
(Reuters) - Revenue for the quarter rose to $115.9 million from $87.9 million a year ago.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
Philippine Central Bank Deposits May Absorb $1 Billion, Guinigundo Says
(Bloomberg) -- The Philippine central bank may absorb more than 50 billion pesos ($1 billion) in funds from government companies and investors by giving them greater access to its deposit accounts, Deputy Governor Diwa Guinigundo said.
Bangko Sentral ng Pilipinas will tomorrow expand access to the deposit accounts, currently available only to banks, to attract the extra funds, Guinigundo said in an interview. The central bank is seeking to drain funds from the financial system to restrain growth in money supply after its broadest measure, M3, expanded 24.6 percent in March from a year earlier, the fastest pace in more than two years.
Read more at Bloomberg Bonds News
Bangko Sentral ng Pilipinas will tomorrow expand access to the deposit accounts, currently available only to banks, to attract the extra funds, Guinigundo said in an interview. The central bank is seeking to drain funds from the financial system to restrain growth in money supply after its broadest measure, M3, expanded 24.6 percent in March from a year earlier, the fastest pace in more than two years.
Read more at Bloomberg Bonds News
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