US energy shares push Wall St up June 2, 2010 US stocks rallied yesterday as investors rushed back into beaten-down shares, led by energy, which bore the brunt of the sell-off a day earlier. The energy sector handily led the way up with the S&P energy index gaining 4.3 per cent. US-listed shares of BP climbed 3.1 per cent to $37.66 even as the company [...]
Starbucks brings latte to NYSE June 1, 2010 Starbucks, the upmarket coffee chain, is opening an outlet on the floor of the New York Stock Exchange as the platform tries to transform itself into a modern working environment. As part of a $7.5m (£5.1m) overhaul of the iconic dealing space, Starbucks will begin serving lattes and frappuccinos to the NYSE’s 500 equity traders.
Markets boosted as China reassures on Eurozone assets May 27, 2010 THE euro staged a broad rally andUS stocks jumped about three per ceyesterday after China said Europe remains a key investment market for its foreign-exchange reserves. The People’s Bank of China said a Financial Times report that Beijing was concerned about its Eurozone bond holdings due to the European debt crisis was groundless. The report [...]
Wall Street flies on China’s Eurozone review refusal May 27, 2010 US stocks rallied yesterday as investor worry was eased after China refuted a report that it was reviewing its Eurozone bond holdings due to the region’s debt crisis. Yesterday’s gains marked the largest advance for the S&P 500 on a percentage basis since 10 May, although volume was below average. China’s denial was enough of [...]
Inquiry into leaks in Rajaratnam case May 25, 2010 FEDERAL investigators are examining possible improper leaks about the federal insider trading case against Raj Rajaratnam, the Galleon Group founder’s legal team said yesterday. The US Department of Justice’s Office of Professional Responsibility has opened an inquiry into allegations of misconduct by individuals in the US Attorney’s office and the FBI, a 11 May letter [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 23, 2010 FINANCIAL TIMES PRINCE ANDREW’S TRADE ROLE DEFENDED Buckingham Palace defended Prince Andrew’s globetrotting role promoting British business on Sunday after a newspaper sting appeared to show his former wife selling access to him for £500,000, offered by a reporter posing as a tycoon. Both the royal household and the government said the Duke of York’s [...]
Fears over Eurozone debt rock US May 19, 2010 US stocks fell yesterday as Germany’s unilateral action to ban specific trades on some stocks and bonds sparked a fresh wave of uncertainty and risk aversion among anxious investors. Markets already fear the Eurozone’s credit woes could cut into economic growth. But not all the news was bad, as the broad S&P 500 bounced off [...]
US trials curbs to stop Dow plunge repeat May 18, 2010 NEW rules to curb stock trading when markets plunge uncontrollably will go into effect in June for the largest stocks. The plan has been hastily crafted by the Securities and Exchange Commission and the major US exchanges in response to the unexplained “flash crash” on 6 May that drove the Dow Jones industrial average down [...]
SAP snaps up rival Sybase in $5.8bn deal May 13, 2010 GERMANY’S SAP yesterday said it plans to buy smaller business software maker Sybase for $5.8bn (£3.9bn), gaining technology that allows it to deliver accounting software and other programs to smartphones. The acquisition would be the second largest in SAP’s nearly 40-year history, and comes after the departure in February of chief executive Leo Apotheker, who [...]
Wall St up as credit fears ease May 10, 2010 US stocks racked up their best one-day gain in over a year yesterday as an agreement on a $1 trillion (£645bn) emergency rescue package from the EU quelled fears a new credit crisis would derail European economies. The bailout fund approved by European leaders yesterday drove the S&P 500 to its highest opening jump on [...]