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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.
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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.
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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.
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Fri 17 May 2013
Commodity prices were little changed on Thursday as several macroeconomic indicators disappointed Stateside and as the US dollar rose to ten month highs.
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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.
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Thu 16 May 2013
A weekly price chart for the West Texas futures contract shows a triangle formation with lower highs and higher lows, according to technical analysts at Digital Look.
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Thu 16 May 2013
Japanese gross domestic product (GDP) expanded at the fastest rate in a year during the first quarter of 2013, even though private investment continued to tumble.
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Thu 16 May 2013
Crude oil futures eked out a modest gain on Wednesday, snuffing out a four day losing streak, after a surprise drop in US crude stockpiles.
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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.
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Wed 15 May 2013
German steel group ThyssenKrupp reported a fiscal second quarter loss of 656m euros although analysts had been looking for a slight profit of 25.5m euros.
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Wed 15 May 2013
The Eurozone recession continued at the start of 2013 as first-quarter gross domestic product (GDP) registered another contraction.
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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.
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Wed 15 May 2013
France fell back into recession in the first quarter of 2013 as the Eurozone crisis continued to hamper growth.
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Wed 15 May 2013
European finance ministers decided during Tuesday's Ecofin meeting that depositors with less than 100,000 euros in a failed bank will recover their entire funds.
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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.
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Wed 15 May 2013
US crude oil futures continued to fall on Tuesday amid persistent worries about abundant inventory levels against slowing demand.
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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.
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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.
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Tue 14 May 2013
The public is losing its faith in European unity as the region continues to tackle its debts, according to a new survey.
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Tue 14 May 2013
European Central Bank (ECB) Executive Board member Joerg Asmussen has insisted on the need to review all European banks before the ECB takes over as a single banking supervisor.
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