Wall Street flat as earnings awaited October 11, 2010 US stocks drifted in the lightest trading volume of the year yesterday as few dared to place bets ahead of key companies’ results later this week. Expectations the Federal Reserve will flood markets with even more cash have been fully priced in to the market, so investors are now focused on third-quarter earnings season, with [...]
Accenture to buy Ariba’s assets in $51m cash deal October 6, 2010 TECHNOLOGY outsourcing and consulting firm Accenture said it would buy Ariba consulting services and BPO assets for $51m in cash. Ariba, which provides procurement software and consulting services, said the businesses will account for about $40m of 2010 revenue and seven cents a share in adjusted earnings, it said in a regulatory filing. Accenture, which [...]
Economic stimulus hope boosts mood of investors October 5, 2010 US stocks rallied to nearly a five-month high yesterday on growing conviction that central banks will do even more to bolster struggling economies worldwide. The Bank of Japan lit the fuse overnight when it unexpectedly cut rates closer to zero. This move came as markets increasingly believe the US Federal Reserve will stimulate its economy [...]
AIG reaches deal with government on plans to pay back US taxpayers September 30, 2010 AMERICAN International Group (AIG) laid out a plan yesterday that sets the company on a path for an accelerated payback of taxpayer bailout money, but also increases the risk for the government. The plan, which comes a little over two years after AIG was rescued from the brink of collapse, will see the Federal Reserve [...]
WHAT THE OTHER PAPERS SAY THIS MORNING September 26, 2010 FINANCIAL TIMES GOLD SALES AT EUROPEAN CENTRAL BANKS DRAW TO HALT Europe’s central banks have all but halted sales of their gold reserves, ending a run of large disposals each year for more than a decade. The central banks of the eurozone plus Sweden and Switzerland are bound by the Central Bank Gold Agreement, which [...]
Coke to stay on Wall Street September 26, 2010 Coca Cola Enterprises (CCE) will remain listed on Wall Street although it could one day take a secondary listing on the London Stock Exchange (LSE), an insider has told City AM. The news comes as the board of CCE, which bottles and distributes the soft drink, votes on whether to sell its North American distribution [...]
Wall Street falls on poor unemployment figures September 23, 2010 US stocks fell yesterday after a weak reading on the labour market dropped stocks through a key technical level, validating the worries of those who thought the recent rally was flimsy. Major indexes were little changed for most of the day before the S&P 500 broke below 1,130, the high end of the summer’s trading [...]
Fed remarks fail to boost US stocks September 21, 2010 US stocks ended flat to lower in an erratic session yesterday after the Federal Reserve inched closer to further steps designed to support the recovery. Stocks initially popped higher but gave back those gains quickly. Investors had hoped that with recent improvements in economic data, the Fed would issue a more upbeat outlook or clarify [...]
FSA teams up with US agency to monitor firms September 20, 2010 THE FINANCIAL Service Authority (FSA) has signed a deal with one of its US counterparts in a bid to more closely supervise the world’s largest securities firms and markets, it said yesterday. The FSA signed a memorandum of understanding with the US Financial Industry Regulatory Authority (FINRA) on 15 September, agreeing to share information on [...]
Wall St rises, S&P makes strong gains September 20, 2010 The S&P 500 closed at a four-month high yesterday as a long-awaited break above a technical range and a flurry of positive corporate news increased investor optimism. The break came a day before a Federal Reserve meeting in which the central bank is expected to renew a promise to keep its portfolio from shrinking but [...]