Nasdaq boosted by rising tech share performance March 8, 2010 TECHNOLOGY shares pushed the Nasdaq higher yesterday on an otherwise flat day for US stocks. Cisco Systems, a Dow component, hit a 21-month high at $26.36 after JPMorgan Chase recommended the stock to investors. Research in Motion gained 5.6 per cent, leading the Nasdaq higher after an analyst’s upgrade. Sentiment also got a lift from [...]
Confidence in retail sector lifts Wall St March 4, 2010 US stocks rose yesterday as better-than-expected monthly sales from retailers and a drop in the number of Americans filing claims for jobless benefits pointed to stabilisation in the economy. The boost from February retail sales, which were expected to have been hurt by severe weather across the US, lifted retailers’ shares as the S&P retail [...]
IRS seeks back taxes from NYSE March 1, 2010 US authorities are looking to collect back taxes from NYSE Euronext after questioning tax benefits the company received from $161m (£107m) of compensation paid to former chief executive Dick Grasso. Grasso resigned from the parent of the New York Stock Exchange in 2003 amid public outrage over the size of his pay package, which topped [...]
Prudential preparing for £23bn AIG Asian deal February 28, 2010 PRUDENTIAL, the largest insurer in Britain, is on the verge of an audacious takeover of the Asian operations of American International Group valued at around £23bn. The Pru would raise £15bn through a mammoth rights issue to help fund the transaction, which would transform it into the most powerful insurance player in the high-growth Far [...]
Wall St rocked by weak labour data February 25, 2010 US stocks recovered most of their losses but ended lower yesterday after weak employment and durable goods data added to recent worries about the strength of the economic recovery. Trading started on a sour note, but rumors of a 4-for-1 stock split planned by Apple coincided with a late-day rebound in stocks. A spokesman said [...]
Wall St rises after Bernanke pledge February 24, 2010 FEDERAL Reserve Chairman Ben Bernanke reassured lawmakers interest rates will remain low, driving US stocks higher yesterday as investors welcomed the promise of more cheap money. Banks, which have benefited from borrowing rates at historic lows, led the market higher. Bank of America was the Dow’s biggest percentage gainer, rising 2.45 per cent. Investors overlooked [...]
Data undermines hopes of recovery February 23, 2010 US stocks suffered their biggest one-day decline in nearly three weeks yesterday after a sharp drop in consumer confidence heightened worries over one of the most vulnerable areas of the economy. Consumer confidence in February slumped to a 10-month low as the short-term outlook on jobs worsened. Results from retailers added little hope, as bellwethers [...]
Wall St boosted by strong output data February 18, 2010 US stocks rose for a third straight day yesterday as investors viewed company results and manufacturing data as evidence the economic rebound will continue. Investors accentuated the positive news, focusing on improved mid-Atlantic manufacturing data and setting aside a lackluster outlook from Wal-Mart and a surprising increase in weekly jobless claims. “News on the economy [...]
Volatile foreign exchange markets are back on the agenda for 2010 February 16, 2010 SIX months ago, it seemed that the worst of the global crisis was over. The markets had calmed down, the economic recovery appeared to be firmly on track and traders seemed to have regained their risk appetite. But just as we thought things were on the mend, a sovereign debt crisis in the Eurozone coupled [...]
Blackstone takes heart from $600m US flotation February 15, 2010 LEVERAGED buyout house Blackstone may have been shaken by its aborted £2.2bn flotation of Travelport last week, but one ray of hope has emerged from the US. The firm managed to list longstanding portfolio company Graham Packaging on the New York Stock Exchange at a market capitalisation of $600m (£383m) on Thursday. Although Blackstone did [...]