Soros takes a large stake in Herbalife, shares rise

August 1, 2013 8:03 am
Herbalife shares advanced to a new 1 year high yesterday after news that billionaire investor George Soros had taken a large stake in the nutritional supplement seller. Last month the $13 billion hedge fund run by Bill Ackman, has called Herbalife a fraudulent pyramid scheme and placed a billion-dollar bet against the value of its […] Read more

US stock indexes remained almost unchanged, erasing Wednesday’s gains

August 1, 2013 6:44 am
U.S. stocks erased an earlier gains after the Federal Reserve didnt indicate when it will reduce the pace of stimulus. Data issued yesterday showed the economy grew more than projected in the second quarter. The S&P 500 lost less than 1 point to 1,685.73 at 4 p.m. in New York. The benchmark gauge gained 5% […] Read more

VW releases early results which beat estimates

July 31, 2013 12:48 pm
Volkswagen released first-half data report unexpectedly after the market closed on Tuesday evening, a day ahead of the scheduled announcement. The German car-maker’s first-half operating profit declined 12% to 5.78 billion euros which it attributed to costs related to a car recall in China and charges booked by MAN, its truck and engineering business. The […] Read more

US stock index futures slightly up before GDP data

July 31, 2013 11:49 am
U.S. stock index futures fluctuated around zero percentage change, with the Standard & Poor’s 500 Index might be heading for the biggest monthly gain since January, as investors awaited a policy announcement following the Federal Reserve’s two-day meeting. S&P 500 futures added 0.03% to 1,685.2 at 12:33 p.m. in London. The benchmark index added 0.04 […] Read more

Peugeot shows signs of recovery as earnings fell less than estimated

July 31, 2013 8:47 am
PSA Peugeot Citroen, Europe’s second-largest automaker, reported better than estimated earnings as it recorded smaller loss than it was expected by analysts. A tighter cost management offset a decline in deliveries which outpaced even the region’s negative numbers. Peugeot is cutting costs after its car-making unit lost 3 billion euros in cash in 2012 as […] Read more

BNP Paribas profit falls, the bank shifts focus to Germany, Asia

July 31, 2013 8:01 am
BNP Paribas SA, the largest French bank, said second-quarter profit fell 4.7% as Europe’s economic conditions reduced lending in France and Italy and led to an increase in loan-loss provisions. Net income fell to 1.76 billion euros ($2.3 billion) from 1.85 billion euros a year earlier, the bank said in a statement today. Earnings compared […] Read more

US stock indexes show mixed signs before Fed statement and earnings reports

July 31, 2013 6:40 am
The US stock indexes remained mixed as S&P 500 headed for its biggest monthly gain since January, as investors analyzed corporate earnings and awaited results from the Federal Reserve’s two-day meeting. The S&P 500 gained around 0.04% to 1,685.96 at 4 p.m. in New York, after hesitating between gains and losses during the trading session. […] Read more

Pfizer earnings report beats estimates

July 30, 2013 2:05 pm
Pfizer Inc reported second-quarter earnings slightly ahead of estimates today as the largest U.S. drug-maker lines up a business split that could lead to the spin off of its generics division. The company, experiencing falling sales of its now left without patent cholesterol fighter Lipitor, reaffirmed its financial outlook for the year. For the second […] Read more

BP compensation fund is running out of money due to 2010’s spill

July 30, 2013 1:01 pm
BP Plc said today that the $20 billion fund, set up to cover the cost of the Gulf of Mexico oil spill, will soon run out, as compensation claims have accelerated despite efforts from the company to limit what it claims are excessive payouts. The warning, which came as BPs second-quarter earnings fell short of […] Read more