Fri 17 May 2013 Industrial machinery maker Caterpillar has cut the cost of its acquisition of a Chinese mining equipment group, meaning that it will take a big write-down following alleged accounting “irregularities”, the The Wall Street Journal writes.
Fri 17 May 2013 Moody's Investor Service has decided to upgrade Turkey's credit rating to an investment grade with a 'stable' outlook after the country underwent several reforms to its financial structure.
Fri 17 May 2013 Finance Minister Pierre Moscovici believes that growth will return to France in the second half of this year after data on Wednesday showed the French economy slipped into recession during the first quarter.
Thu 16 May 2013 “Proving once again that he's a long-term investor, not a day trader, billionaire investor Warren Buffett's Berkshire Hathaway made few changes to its closely followed $85bn stock portfolio in the first quarter,” the USA Today reports. The paper says that Berkshire upped its stakes in “three blue-chip favourites” - Wells Fargo, Wal-Mart and IBM.
Wed 15 May 2013 The Wall Street Journal cites people close to Dell as saying that the computer maker will report profits 'far worse' than analysts’ forecasts for the first quarter though revenues should come in a little higher. The company has pushed its reporting date forward from May 21st to May 16th but has not explained why.
Wed 15 May 2013 Italy published another contraction in the first quarter of this year and remains in its longest recession in the last 43 years as the country gears up to launch a 30-year syndicated bond.
Wed 15 May 2013 Germany registered weaker-than-expected growth in the first quarter of the year, narrowly skirting a recession as the Eurozone crisis continues to take its toll on the region's largest economy.
Tue 14 May 2013 Mining equities were under pressure on Tuesday on the back of fears of a so-called 'hard landing' in China, as analysts turned more bearish on the outlook for one of the world’s biggest consumers of metals.
Tue 14 May 2013 “An American hedge fund billionaire known for starting big fights has called for a breakup of the entertainment and electronics colossus Sony, according to people briefed on the matter, possibly setting off a battle that could roil Japan’s famously staid corporate culture,” reports The New York Times.