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 [...]
Wall Street plunges as trading glitch suspected May 6, 2010 US stocks plunged nine per cent in the last two hours of trading yesterday before clawing back some of the losses as the escalating debt crisis in Europe stoked fears a new credit crunch was in the making. The Dow suffered its biggest ever intraday point drop, which may have been caused by an erroneous [...]
Fallout from Greek crisis continues to hit Wall St May 5, 2010 US STOCKS sagged yesterday as more signs emerged that the fallout from the Greek debt crisis could spread to bigger European economies. The euro hit a 14-month low as investors shunned the debt of weaker Eurozone countries and jumped into safe-havens. US Treasury prices and the dollar surged on fears Greece’s debt problems could hinder [...]
Fed’s cheer on economy boosts Dow April 28, 2010 US stocks rose yesterday after the Federal Reserve pointed to signs of strength in the economy, comments that gave some relief to investors worried about possible debt defaults in Europe. The Fed’s comments on the economy and its statement that it would keep interest rates low for an extended period lifted bank shares. BKW Bank [...]
Chloride rejects £723m bid April 26, 2010 Chloride Group yesterday rejected a new £723m cash offer from suitor Emerson Electric. It was urged by a string of major shareholders to hold out for a significantly higher bid from the US industrials group. Emerson gave the power protection firm only two days to respond to its 275p-a-share cash proposal over the weekend before [...]
Dow climbs despite fears over finance reform bill April 26, 2010 US STOCKS edged lower yesterday as bank shares fell on fears that financial reform making its way through Congress will curb profits, while Caterpillar’s strong results buoyed the Dow. A proposal to overhaul financial regulation that could restrict lucrative derivatives trading was expected to face a crucial Senate test vote yesterday and weighed on financial [...]
Lawyers back Goldman on SEC disclosure April 19, 2010 LEGAL experts yesterday insisted that Goldman Sachs was justified in concealing from investors the first stages of the Securities and Exchange Commission’s probe into obscure credit derivative trades at the bank. Goldman came under fire at the weekend after it emerged the bank had known about the investigation months before fraud charges were officially filed [...]
Still time for Essar to get this right April 15, 2010 THE London Stock Exchange’s biggest flotation in four years should be a cause for celebration in the City. The fact that the flotation is that of an Indian group that might have otherwise chosen Hong Kong or New York or anywhere else in the world to list its oil, gas and energy division, should make [...]
Transport shares boost Wall Street April 15, 2010 US stocks posted their sixth straight day of gains yesterday as an encouraging profit forecast from United Parcel Service (UPS) lifted transportation shares, though concerns about a rise in weekly jobless claims limited the market’s advance. Financial stocks weighed on the S&P 500 as they gave back some gains after Wednesday’s strong rally. UPS posted [...]