(Bloomberg) -- China's trade surplus swelled 63 percent in April from a year earlier to $16.9 billion as export growth accelerated, the state-controlled Xinhua News Agency said.
Exports jumped 26.8 percent and imports climbed 21.3 percent, Xinhua reported, citing the General Administration of Customs. The trade gap for the first four months was $63.3 billion, 88 percent higher than a year earlier.
Read more at Bloomberg Emerging Markets News
Thursday, May 10, 2007
Alcatel, CNP, Lagardere, NRJ and Teleperformance: French Equity Preview
(Bloomberg) -- Shares of the following companies may rise or fall on the Paris stock exchange. Symbols are in parentheses after company names and prices are from yesterday's close.
The benchmark CAC 40 Index fell 38.87 points, or 0.6 percent, to 6012.76 today in Paris, the biggest one-day drop since March 26. The broader SBF 120 Index declined 0.6 percent to 4395.66.
Read more at Bloomberg Stocks News
The benchmark CAC 40 Index fell 38.87 points, or 0.6 percent, to 6012.76 today in Paris, the biggest one-day drop since March 26. The broader SBF 120 Index declined 0.6 percent to 4395.66.
Read more at Bloomberg Stocks News
Thailand's Bonds Poised for Weekly Gain; Government Suggests Rates to Drop
(Bloomberg) -- Thailand's 10-year bonds headed for a sixth weekly gain after the finance minister signaled interest rates will need to decline further this year. The baht gained.
The yield on the 10-year note fell to a 3 1/2 year low on prospects policy makers will lower borrowing costs for a fourth time on May 23. The benchmark one-day rate can be eased further to boost growth, Finance Minister Chalongphob Sussangkarn said today.
Read more at Bloomberg Bonds News
The yield on the 10-year note fell to a 3 1/2 year low on prospects policy makers will lower borrowing costs for a fourth time on May 23. The benchmark one-day rate can be eased further to boost growth, Finance Minister Chalongphob Sussangkarn said today.
Read more at Bloomberg Bonds News
Taiwan's China Airlines Reduces Its Fuel Hedging in a `Dangerous' Market
(Bloomberg) -- China Airlines, Taiwan's largest carrier, has reduced fuel hedging by about 67 percent since ``volatile'' prices made the cost of the contracts riskier than buying jet kerosene on the spot market.
``It's too dangerous to make any kind of hedging now,'' Chairman Philip Wei said May 9. ``Since last October until now, we did two, or three transactions, no more,'' Wei said in an interview in Taipei. ``We don't do any hedging now.''
Read more at Bloomberg Emerging Markets News
``It's too dangerous to make any kind of hedging now,'' Chairman Philip Wei said May 9. ``Since last October until now, we did two, or three transactions, no more,'' Wei said in an interview in Taipei. ``We don't do any hedging now.''
Read more at Bloomberg Emerging Markets News
Greenspan says odds against U.S. recession 2 to 1
(Reuters) - "He said the odds against a recession were now 2 to 1," said Spencer White of Thien Viet Securities, who participated in the conference.
The former central bank chief was speaking to a Singapore audience via a satellite link from Washington.
Read more at Reuters.com Business News
The former central bank chief was speaking to a Singapore audience via a satellite link from Washington.
Read more at Reuters.com Business News
Asian Stocks Fall on Lower Metals, U.S. Growth Concerns; BHP, Toyota Slide
(Bloomberg) -- Asian stocks fell after raw material prices dropped and reports showed falling retail sales and a wider trade deficit in the U.S., the region's largest export market.
All 10 industry groups making up the Morgan Stanley Capital International Asia-Pacific Index retreated. BHP Billiton Ltd. posted its biggest drop in two weeks as copper and zinc declined. Toyota Motor Corp. fell to the lowest in five months on concern demand for its cars will falter as the U.S. economy slows.
Read more at Bloomberg Stocks News
All 10 industry groups making up the Morgan Stanley Capital International Asia-Pacific Index retreated. BHP Billiton Ltd. posted its biggest drop in two weeks as copper and zinc declined. Toyota Motor Corp. fell to the lowest in five months on concern demand for its cars will falter as the U.S. economy slows.
Read more at Bloomberg Stocks News
Australian Shares Drop From a Record, Led by Rio Tinto, Westfield Group
(Bloomberg) -- Australian stocks fell from a record high. Rio Tinto Group declined along with metals prices. Stocks with U.S. earnings such as Westfield Group dropped after falling retail sales, higher import prices and a wider trade deficit heightened concern the world's biggest economy will slow.
The S&P/ASX 200 Index lost 67.10, or 1.1 percent, to 6288.40 as of 10:22 a.m. in Sydney. About seven stocks dropped for every one that gained.
Read more at Bloomberg Stocks News
The S&P/ASX 200 Index lost 67.10, or 1.1 percent, to 6288.40 as of 10:22 a.m. in Sydney. About seven stocks dropped for every one that gained.
Read more at Bloomberg Stocks News
U.S. House passes Iraq funds bill Bush would veto
(Reuters) - An additional $52.8 billion would have to be approved by Congress in late July, after Bush submits progress reports on the war. Lawmakers would then decide whether to use this second batch of money to continue combat or to bring most U.S. troops out of Iraq.
Read more at Reuters.com Bonds News
Read more at Reuters.com Bonds News
Yen Set for First Weekly Gain in Two Months as Traders Unwind Carry Trades
(Bloomberg) -- The yen headed for a week of gains against the euro on speculation investors are reducing holdings funded by borrowing in Japan after U.S. stocks fell the most in almost two months.
Japan's yen was set to break nine weeks of losses as investors pared so called carry trades after the S&P 500 yesterday had the steepest drop since March 13. The euro also slid as traders pared bets on rate rises beyond one expected in June, as European Central Bank President Jean-Claude Trichet gave no indication of policy direction after that time.
Read more at Bloomberg Currencies News
Japan's yen was set to break nine weeks of losses as investors pared so called carry trades after the S&P 500 yesterday had the steepest drop since March 13. The euro also slid as traders pared bets on rate rises beyond one expected in June, as European Central Bank President Jean-Claude Trichet gave no indication of policy direction after that time.
Read more at Bloomberg Currencies News
UPDATE 1-51job Q1 profit tops Wall Street view
(Reuters) - The company reported earnings of $4.2 million, or 15 cents per American depositary share , on total revenue of $26.0 million.
Analysts on average were expecting earnings of 12 cents per ADS, on revenue of $24.9 million, according to Reuters Estimates.
Read more at Reuters.com Market News
Analysts on average were expecting earnings of 12 cents per ADS, on revenue of $24.9 million, according to Reuters Estimates.
Read more at Reuters.com Market News
Mexican unions win 4.3 pct wage increase in April
(Reuters) - Analysts mostly see the central bank leaving monetary policy unchanged for the time being given benign inflation data since it hiked its key overnight rate at the end of last month.
Inflationary pressure heated up in recent months, partly due to price spikes for foods like tomatoes and tortilla, but inflation for the 12 months to April was 3.99 percent, below the central bank's 4 percent limit and down from 4.21 percent for the 12 months to March.
Read more at Reuters.com Bonds News
Inflationary pressure heated up in recent months, partly due to price spikes for foods like tomatoes and tortilla, but inflation for the 12 months to April was 3.99 percent, below the central bank's 4 percent limit and down from 4.21 percent for the 12 months to March.
Read more at Reuters.com Bonds News
Japanese Yen, Thai Baht, Indonesian Rupiah, South Korean Won: Asia Preview
(Bloomberg) -- The following events and economic reports may influence trading in Asian currencies today.
Exchange rates are from the previous session.
Read more at Bloomberg Currencies News
Exchange rates are from the previous session.
Read more at Bloomberg Currencies News
UPDATE 2-NovaStar posts operating loss, to drop REIT status
(Reuters) - The Kansas City, Missouri-based company also plans to drop its tax-friendly real estate investment trust status on Jan. 1, 2008, after concluding it may generate no taxable income from 2007 through 2011.
NovaStar shares nevertheless rose 5.8 percent in after- hours electronic trading.
Read more at Reuters.com Bonds News
NovaStar shares nevertheless rose 5.8 percent in after- hours electronic trading.
Read more at Reuters.com Bonds News
Penthouse settles accounting fraud case with SEC
(Reuters) - Penthouse, the adult magazine, was published by Penthouse International, a holding company which also had movies, online content and entertainment clubs.
Penthouse is today published by Penthouse Media Group, formerly known as General Media. Penthouse Media recently emerged from Chapter 11 bankruptcy protection and reorganized under the majority ownership of financier Marc Bell.
Read more at Reuters.com Government Filings News
Penthouse is today published by Penthouse Media Group, formerly known as General Media. Penthouse Media recently emerged from Chapter 11 bankruptcy protection and reorganized under the majority ownership of financier Marc Bell.
Read more at Reuters.com Government Filings News
UPDATE 1-Nvidia quarterly profit rises 43 percent
(Reuters) - Nvidia said net profit for its first quarter ended April 29 rose to $132.3 million, or 33 cents per share, from $92.1 million, or 24 cents per share, a year earlier.
The company was expected to have earned 31 cents per share, according to the average forecast of Wall Street analysts on Reuters Estimates.
Read more at Reuters.com Market News
The company was expected to have earned 31 cents per share, according to the average forecast of Wall Street analysts on Reuters Estimates.
Read more at Reuters.com Market News
Washington Mutual may pay $21-$31 mln in tax pact
(Reuters) - Seattle-based Washington Mutual said it is "reasonably possible" that a settlement can be reached within the next year. It disclosed the possible settlement in its quarterly report filed with the U.S. Securities and Exchange Commission.
Shares of Washington Mutual closed Thursday down 62 cents at $42.51 on the New York Stock Exchange.
Read more at Reuters.com Bonds News
Shares of Washington Mutual closed Thursday down 62 cents at $42.51 on the New York Stock Exchange.
Read more at Reuters.com Bonds News
TREASURIES-Bonds gain on weak economy, soft retail sales
(Reuters) - NEW YORK, May 10 - U.S. government debt prices rose on Thursday, after data showed sluggish sales by retailers and a trade deficit hinting the economy grew at a slower-than-estimated pace in the first quarter.
A stock market sell-off also contributed to Treasuries' rise, although gains were capped by a surprisingly weak 30-year bond auction. Investors tend to favor U.S. government bonds as a safer haven when they shun stocks and other riskier assets.
Read more at Reuters.com Bonds News
A stock market sell-off also contributed to Treasuries' rise, although gains were capped by a surprisingly weak 30-year bond auction. Investors tend to favor U.S. government bonds as a safer haven when they shun stocks and other riskier assets.
Read more at Reuters.com Bonds News
US's Paulson: want 'fair' process for Wolfowitz
(Reuters) - Wolfowitz is embroiled in a struggle to hold on to the presidency of the global lender amid calls for him to quit over his handling of a pay rise and promotion for a companion.
"We need very fair processes. This shouldn't be rushed. But I'm not going to get into outcomes and you shouldn't take that as any lessening of my support or admiration for Paul Wolfowitz," Paulson said.
Read more at Reuters.com Bonds News
"We need very fair processes. This shouldn't be rushed. But I'm not going to get into outcomes and you shouldn't take that as any lessening of my support or admiration for Paul Wolfowitz," Paulson said.
Read more at Reuters.com Bonds News
S&P raises Xerox's rating to investment grade
(Reuters) - Xerox, the world's largest supplier of office printers, copiers and related services, in April posted a rise in quarterly profits, driven by sales of service contracts and supplies. For details see [ID:nN20224472].
While funding for the acquisition is expected to increase Xerox's leverage for the next several quarters, cash flow from operations will likely be used to reduce debt, S&P said.
Read more at Reuters.com Bonds News
While funding for the acquisition is expected to increase Xerox's leverage for the next several quarters, cash flow from operations will likely be used to reduce debt, S&P said.
Read more at Reuters.com Bonds News
Australian Dollar to Gain Against New Zealand in Coming Weeks, Lehman Says
(Bloomberg) -- Australia's dollar will rise against the New Zealand currency, as its yield disadvantage narrows, according to Lehman Brothers Holdings Inc.
The Australian currency, touching a one-month high of 1.136 New Zealand dollar today, will increase to 1.15 in ``coming weeks,'' according to David Mozina, head of foreign-exchange strategy at Lehman Brothers in New York. At that level, it would at its strongest since December.
Read more at Bloomberg Currencies News
The Australian currency, touching a one-month high of 1.136 New Zealand dollar today, will increase to 1.15 in ``coming weeks,'' according to David Mozina, head of foreign-exchange strategy at Lehman Brothers in New York. At that level, it would at its strongest since December.
Read more at Bloomberg Currencies News
RPT-FACTBOX-Subprime lenders sold, closed or bankrupt
(Reuters) - Name Headquarters
New Century Financial Irvine, California
Read more at Reuters.com Bonds News
New Century Financial Irvine, California
Read more at Reuters.com Bonds News
Carrefour shares rise on buyout talk: traders
(Reuters) - One dealer quoted speculation that an LBO would be backed by French billionaire Bernard Arnault, who together with property fund Colony Capital owns 9.1 percent of Carrefour. Their raid on the supermarket group in March first sparked bid talk.
A Carrefour spokeswoman said the company had no comment to make. No one at Groupe Arnault or Colony Capital could immediately be reached.
Read more at Reuters.com Hot Stocks News
A Carrefour spokeswoman said the company had no comment to make. No one at Groupe Arnault or Colony Capital could immediately be reached.
Read more at Reuters.com Hot Stocks News
UPDATE 2-'Squawk box' brokers not guilty on most charges
(Reuters) - NEW YORK, May 10 - In a partial verdict, a U.S. jury on Thursday found former brokers and day-trading executives not guilty on most of the counts they faced in a trial over improper use of information broadcast over brokers' internal "squawk box" communications systems.
The jury said it was unable to come to a consensus on the first count of the indictment, a conspiracy charge.
Read more at Reuters.com Government Filings News
The jury said it was unable to come to a consensus on the first count of the indictment, a conspiracy charge.
Read more at Reuters.com Government Filings News
TREASURIES-Bonds up on weak economy but auction caps gains
(Reuters) - Treasuries were boosted by a sell-off in stocks, which were undermined by the unexpectedly large U.S. trade deficit for March and weaker-than-forecast April sales from U.S. retailers.
But a poorly received long-bond sale jolted the market and trimmed bonds' gains.
Read more at Reuters.com Bonds News
But a poorly received long-bond sale jolted the market and trimmed bonds' gains.
Read more at Reuters.com Bonds News
Magna wants only minority stake in Chrysler: report
(Reuters) - Asked why Magna wanted only a minority stake, he said: "Magna does not intend to compete in future against other carmakers. That would be fatal."
Wolf confirmed that Magna had structured its offer in such a way that its Chrysler stake would be placed in a holding company clearly separated from Magna's auto supply business.
Read more at Reuters.com Mergers News
Wolf confirmed that Magna had structured its offer in such a way that its Chrysler stake would be placed in a holding company clearly separated from Magna's auto supply business.
Read more at Reuters.com Mergers News
UPDATE 2-Tweeter posts loss, says may file for Chapter 11
(Reuters) - The cash-strapped electronics retailer, which last month said it would close 49 stores and cut 20 percent of its work force, believes "it does not have sufficient working capital" for short-term needs.
The operator of Sound Advice and HiFi Buys stores reported a loss for the second quarter ended March 31 of $35.2 million, or $1.38 a share, compared with profit of $424,000, or 2 cents a share, a year earlier.
Read more at Reuters.com Bonds News
The operator of Sound Advice and HiFi Buys stores reported a loss for the second quarter ended March 31 of $35.2 million, or $1.38 a share, compared with profit of $424,000, or 2 cents a share, a year earlier.
Read more at Reuters.com Bonds News
Bush, Congress close to deal on labor - Gutierrez
(Reuters) - "I'm hopeful that we can get on with this and do it as soon as we can. This makes a lot of sense for our country. It's in our national interest to get these three free trade agreements approved."
But Gutierrez said U.S. Trade Representative Susan Schwab was still trying to wrap up a deal with lawmakers on labor concerns. "We're not there yet," he said.
Read more at Reuters.com Bonds News
But Gutierrez said U.S. Trade Representative Susan Schwab was still trying to wrap up a deal with lawmakers on labor concerns. "We're not there yet," he said.
Read more at Reuters.com Bonds News
UPDATE 1-Quebecor reports smaller first-quarter loss
(Reuters) - Quebecor, which controls commercial printing giant Quebecor World Inc. , or 23 Canadian cents a share, in the three months ended March 31. That was better than the loss of C$60.7 million, or 94 Canadian cents a share, in the same period a year earlier.
Revenue remained almost completely unchanged, at C$2.37 billion, Quebecor said.
Read more at Reuters.com Market News
Revenue remained almost completely unchanged, at C$2.37 billion, Quebecor said.
Read more at Reuters.com Market News
Morocco's Stock Exchange May Sell Shares in 2009, Bourse Board Member Says
(Bloomberg) -- Morocco's Bourse de Casablanca, creator of the best performing stock index in the Arab world this year, may sell shares in the bourse in 2009 amid a spate of initial public offerings in the north-African kingdom.
``Before selling shares of the bourse, the 14 shareholders of the company must be ready to present the idea to the Finance Ministry in order to change the law,'' Omar Drissi Kaitouni, a board member of the stock exchange, said in an interview with Bloomberg News yesterday in his Casablanca office. ``Selling shares in the bourse is part of our strategic plan.''
Read more at Bloomberg Emerging Markets News
``Before selling shares of the bourse, the 14 shareholders of the company must be ready to present the idea to the Finance Ministry in order to change the law,'' Omar Drissi Kaitouni, a board member of the stock exchange, said in an interview with Bloomberg News yesterday in his Casablanca office. ``Selling shares in the bourse is part of our strategic plan.''
Read more at Bloomberg Emerging Markets News
UPDATE 2-PrimeWest to acquire Shiningbank for C$1.25 bln
(Reuters) - The transaction is the latest move among energy trusts to bolster their businesses following the Canadian government's decision last year to take away the favored tax treatment that had fueled a proliferation of the investment vehicles.
Finance Minister Jim Flaherty said cash distributions from income trusts -- their big draw for investors -- will be taxed starting in 2011.
Read more at Reuters.com Bonds News
Finance Minister Jim Flaherty said cash distributions from income trusts -- their big draw for investors -- will be taxed starting in 2011.
Read more at Reuters.com Bonds News
Brazil sees more dollar inflows on Fitch upgrade
(Reuters) - Fitch on Thursday raised Brazil's sovereign rating to 'BB+' from 'BB', putting it one notch below investment grade.
Read more at Reuters.com Bonds News
Read more at Reuters.com Bonds News
AmBev, Besc, Televisa, Usiminas, Wal-Mart de Mexico: Latin Equity Movers
(Bloomberg) -- Mexico's main stock index fell for the third day in four, led by mobile-phone company America Movil SAB.
The Bolsa index fell 70.93, or 0.2 percent, to 29,921.90 at 10:35 a.m. New York time. The Bovespa index of the most-traded stocks on the Sao Paulo exchange fell 358.75, or 0.7 percent, to 50,941.38.
Read more at Bloomberg Stocks News
The Bolsa index fell 70.93, or 0.2 percent, to 29,921.90 at 10:35 a.m. New York time. The Bovespa index of the most-traded stocks on the Sao Paulo exchange fell 358.75, or 0.7 percent, to 50,941.38.
Read more at Bloomberg Stocks News
UPDATE 1-Ford CEO says making progress on restructuring
(Reuters) - "We are not where we need to be, but we are making very good progress," Mulally told shareholders at the annual meeting.
Ford is attempting to engineer a turnaround from last year's record $12.7 billion loss and reinvent itself as a leaner and more flexible competitor.
Read more at Reuters.com Bonds News
Ford is attempting to engineer a turnaround from last year's record $12.7 billion loss and reinvent itself as a leaner and more flexible competitor.
Read more at Reuters.com Bonds News
UPDATE 1-Lundin profit soars, but misses target
(Reuters) - Lundin, which made takeover offers for two smaller miners last month, earned $53.7 million, or 19 cents per share diluted, for the quarter ended March 31. That is up from $21.5 million, or 17 cents per share, in the year-before period.
Analysts polled by Reuters had expected, on average, profit of 35 cents per share.
Read more at Reuters.com Market News
Analysts polled by Reuters had expected, on average, profit of 35 cents per share.
Read more at Reuters.com Market News
Pre-hurricane-season storm fans Florida brush fires
(Reuters) - "Pray for rain," Gov. Charlie Crist said after a tour of the fires on Wednesday.
Forecasters at the National Hurricane Center said Andrea was a weak, dry and "rather unimpressive" system that could bring an inch of rain to coastal areas.
Read more at Reuters.com Bonds News
Forecasters at the National Hurricane Center said Andrea was a weak, dry and "rather unimpressive" system that could bring an inch of rain to coastal areas.
Read more at Reuters.com Bonds News
Brazil to Sell More Local-Currency Bonds Due in 2028 in Foreign Markets
(Bloomberg) -- Brazil said it will sell more local- currency bonds due in 2028 in international markets.
Brazil sold 750 million reais ($371.3 million) of the bonds to yield 10.28 percent in an initial offering on March 20. The Treasury didn't say in its statement today how much of the bonds it plans to sell in the new offering.
Read more at Bloomberg Emerging Markets News
Brazil sold 750 million reais ($371.3 million) of the bonds to yield 10.28 percent in an initial offering on March 20. The Treasury didn't say in its statement today how much of the bonds it plans to sell in the new offering.
Read more at Bloomberg Emerging Markets News
Vonage loss narrows in first quarter
(Reuters) - Vonage said its net loss for the first quarter totaled $72 million, or 47 cents per share, compared with a loss of $85 million in the same quarter a year earlier.
Revenue rose 64 percent year-on-year to $196 million. But it said subscriber churn, or the rate of cancellations, rose to 2.4 percent from 2.3 percent in the previous quarter.
Read more at Reuters.com Market News
Revenue rose 64 percent year-on-year to $196 million. But it said subscriber churn, or the rate of cancellations, rose to 2.4 percent from 2.3 percent in the previous quarter.
Read more at Reuters.com Market News
UPDATE 1-Vonage loss narrows in first quarter
(Reuters) - Vonage said its net loss for the first quarter totaled $72 million, or 47 cents per share, compared with a loss of $85 million in the same quarter a year earlier. The company was not publicly traded in the year-earlier quarter.
Revenue for the quarter ended March 31 rose 64 percent to $196 million, mostly in line with the average forecast of analysts polled by Reuters Estimates.
Read more at Reuters.com Market News
Revenue for the quarter ended March 31 rose 64 percent to $196 million, mostly in line with the average forecast of analysts polled by Reuters Estimates.
Read more at Reuters.com Market News
UPDATE 1-Canada March trade surplus drops as strike ends
(Reuters) - Analysts polled by Reuters had on average expected the surplus to be C$5.7 billion. Statscan revised the February surplus to C$5.2 billion from an initial C$4.8 billion.
Both exports and imports hit record highs. Exports climbed by 1.4 percent to C$40.6 billion on a 7.9 percent increase in automotive products and higher prices for nickel.
Read more at Reuters.com Economic News
Both exports and imports hit record highs. Exports climbed by 1.4 percent to C$40.6 billion on a 7.9 percent increase in automotive products and higher prices for nickel.
Read more at Reuters.com Economic News
UPDATE 1-H&R Block fees rise 6.6 pct in main tax season
(Reuters) - The Kansas City, Missouri-based company said the average fee per client in company-owned and franchised offices rose 6.6 percent to $164.60 in the 5-1/2 months ended April 18. Its retail and online client base, including those who use TaxCut software, rose by 3.8 percent to 19.86 million.
H&R Block also still projects profit from continuing operations of $1.15 to $1.25 for its fiscal year ending last month. Analysts on average expected profit of $1.16 per share, according to Reuters Estimates.
Read more at Reuters.com Bonds News
H&R Block also still projects profit from continuing operations of $1.15 to $1.25 for its fiscal year ending last month. Analysts on average expected profit of $1.16 per share, according to Reuters Estimates.
Read more at Reuters.com Bonds News
Canadian Stocks May Decline as Takeover Speculation Cools, Copper Drops
(Bloomberg) -- Canadian stocks may fall a second day, after Rio Tinto Group, the world's third-largest mining group, said it hadn't received a takeover approach from BHP Billiton Ltd.
Falling prices for metals including copper and gold may also weigh on shares of Canadian metals producers including Barrick Gold Corp. The raw-materials group has helped lift the Standard & Poor's/TSX Composite Index to records on four of the last five days, as takeover bids such as Alcoa Inc.'s $29.6 billion hostile offer for competing aluminum maker Alcan Inc. spurred speculation.
Read more at Bloomberg Stocks News
Falling prices for metals including copper and gold may also weigh on shares of Canadian metals producers including Barrick Gold Corp. The raw-materials group has helped lift the Standard & Poor's/TSX Composite Index to records on four of the last five days, as takeover bids such as Alcoa Inc.'s $29.6 billion hostile offer for competing aluminum maker Alcan Inc. spurred speculation.
Read more at Bloomberg Stocks News
Onex first-quarter profit down on discontinued ops
(Reuters) - OTTAWA, May 10 - Buyout conglomerate Onex Corp. , or C$1.16 per share, in the three months ended March 31.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
Kohl's April same-store sales fall 10.5 percent
(Reuters) - Menomonee Falls, Wisconsin-based Kohl's said it was comfortable with analysts' average expectation for profit of 62 cents a share for the first quarter.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
US STOCKS-Futures decline as retailers' sales miss
(Reuters) - NEW YORK, May 10 - U.S. stock index futures suggested a lower start on Thursday, with consumer shares likely to sag after most retailers reported weaker-than-expected monthly sales figures.
Retail stocks have been the laggards as the rest of the stock market has rallied for most of April and May. April sales forecasts for retailers were set low based on Easter falling early and unfavorable weather in April, but many companies still disappointed analysts' expectations.
Read more at Reuters.com Bonds News
Retail stocks have been the laggards as the rest of the stock market has rallied for most of April and May. April sales forecasts for retailers were set low based on Easter falling early and unfavorable weather in April, but many companies still disappointed analysts' expectations.
Read more at Reuters.com Bonds News
Ventana says court rules against Digene in HPV patent case
(Reuters) - HPV is a sexually transmitted disease that can lead to cervical cancer.
Read more at Reuters.com Government Filings News
Read more at Reuters.com Government Filings News
Euro Little Changed Versus Dollar as ECB's Trichet Speaks on Rate Policy
(Bloomberg) -- The euro was little changed against the dollar and higher against the yen after the European Central Bank left its interest rate at 3.75 percent.
The ECB maintained its benchmark rate at a 5 1/2-year high as expected by all 45 economists surveyed by Bloomberg News. Investors are betting the central bank will raise rates at least once more this year, interest-rate futures show. The Federal Reserve yesterday kept rates on hold.
Read more at Bloomberg Currencies News
The ECB maintained its benchmark rate at a 5 1/2-year high as expected by all 45 economists surveyed by Bloomberg News. Investors are betting the central bank will raise rates at least once more this year, interest-rate futures show. The Federal Reserve yesterday kept rates on hold.
Read more at Bloomberg Currencies News
UPDATE 1-Windstream first-quarter profit falls
(Reuters) - Net income fell to $99.9 million, or 21 cents per share, from $112.8 million, or 28 cents per share, a year earlier.
The results included costs such as a non-cash charge of $5.3 million for the early retirement of debt issuance costs and $4.8 million in restructuring and transaction expenses, it said.
Read more at Reuters.com Market News
The results included costs such as a non-cash charge of $5.3 million for the early retirement of debt issuance costs and $4.8 million in restructuring and transaction expenses, it said.
Read more at Reuters.com Market News
Federated April same-store sales fall
(Reuters) - Federated had forecast April same-store sales would rise 2.5 percent to 4 percent. On Thursday it said May same-store sales were expected to be flat to down 2 percent.
Read more at Reuters.com Business News
Read more at Reuters.com Business News
Crude Oil Climbs After Nigerian Militant Attacks Disrupt Output, Exports
(Bloomberg) -- Crude oil rose on speculation supplies will be further disrupted in Nigeria, Africa's largest producer, after a series of militant attacks.
Eni SpA, Italy's biggest oil company, had to cut output at Nigeria's Brass crude export terminal by 98,000 barrels a day after a militant group attacked pipelines this week. An increase in U.S. gasoline stockpiles ``wasn't able to ease worries about'' supplies, a report from Vienna-based PVM Oil Associates GmbH said today.
Read more at Bloomberg Commodities News
Eni SpA, Italy's biggest oil company, had to cut output at Nigeria's Brass crude export terminal by 98,000 barrels a day after a militant group attacked pipelines this week. An increase in U.S. gasoline stockpiles ``wasn't able to ease worries about'' supplies, a report from Vienna-based PVM Oil Associates GmbH said today.
Read more at Bloomberg Commodities News
Essilor buys stake in U.S. contact lens distributor
(Reuters) - Essilor said the acquisition would add roughly $50 million to group sales, which were 2.7 billion euros last year.
Read more at Reuters.com Mergers News
Read more at Reuters.com Mergers News
Euro Rises Versus Dollar, Yen Before ECB Interest-Rate Decision, Statement
(Bloomberg) -- The euro rose on speculation European Central Bank President Jean-Claude Trichet will signal at a policy meeting today that interest rates will increase next month.
The ECB will keep its benchmark rate at a 5 1/2-year high of 3.75 percent today, according to all 45 economists Bloomberg surveyed. The euro has risen 5.7 percent against the dollar since August as European policy makers lifted borrowing costs three times and the Federal Reserve kept rates on hold. The Fed yesterday held its target rate for overnight lending between banks at 5.25 percent.
Read more at Bloomberg Currencies News
The ECB will keep its benchmark rate at a 5 1/2-year high of 3.75 percent today, according to all 45 economists Bloomberg surveyed. The euro has risen 5.7 percent against the dollar since August as European policy makers lifted borrowing costs three times and the Federal Reserve kept rates on hold. The Fed yesterday held its target rate for overnight lending between banks at 5.25 percent.
Read more at Bloomberg Currencies News
JGBs ease on BOJ rate hike worries, curve flattens
(Reuters) - Bank of Japan Governor Toshihiko Fukui on Thursday reiterated the central bank's stance that it will raise interest rates gradually, depending on changes in the economy and prices.
Analysts said Fukui offered no fresh clues about monetary policy in his speech.
Read more at Reuters.com Bonds News
Analysts said Fukui offered no fresh clues about monetary policy in his speech.
Read more at Reuters.com Bonds News
Asian shares extend post-Fed gains; JGBs dip
(Reuters) - Financial bookmakers predict European shares will open higher.
Japanese government bonds were pressured by mounting speculation the Bank of Japan may raise interest rates. BOJ Governor Toshihiko Fukui is due to speak later in the day.
Read more at Reuters.com Hot Stocks News
Japanese government bonds were pressured by mounting speculation the Bank of Japan may raise interest rates. BOJ Governor Toshihiko Fukui is due to speak later in the day.
Read more at Reuters.com Hot Stocks News
Fukui Says Prolonging `Very Low' Interest Rates May Cause Overinvestment
(Bloomberg) -- Japan's interest rates are ``very low'' given the economy's strength and failing to increase borrowing costs could cause overinvestment, Governor Toshihiko Fukui said.
``If we neglect to implement needed rate adjustments, that may accentuate risks to the economy that may not be so prominent otherwise,'' Fukui said at meeting of business executives in Tokyo today. ``We cannot meet our responsibilities if we fail to take necessary actions.''
Read more at Bloomberg Currencies News
``If we neglect to implement needed rate adjustments, that may accentuate risks to the economy that may not be so prominent otherwise,'' Fukui said at meeting of business executives in Tokyo today. ``We cannot meet our responsibilities if we fail to take necessary actions.''
Read more at Bloomberg Currencies News
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