July 3, 2013 7:31 am
Standard & Poors has cut ratings of three major European banks Barclays, Credit Suisse and Deutsche Bank. The new financial politics by Central Bank for safer banking system and uncertain economy conditions pose a threat to the system. Long-term credit ratings for the three banks were cut to A from A+, the benchmark said yesterday […]
Read moreJuly 3, 2013 6:44 am
US stocks closed mixed yesterday amid Fridays key jobs data and jump in crude oil price which kept the sentiment. The Dow Jones Industrial Average declined 0.3%. The Dow reached as much as 74.26 points at the days high and 104.45 points at the low. The S&P 500 index lost 0.1% and the Nasdaq Composite Index […]
Read moreJuly 2, 2013 2:30 pm
The Federal Reserve is working on a plan to make banking system safer. The financial institution is going to force banks to comply by the new Basel III capital regime in January next year. The tougher rules were criticized by many bankers one of them being Jamie Dimon of JP Morgan Chase who defined the […]
Read moreJuly 2, 2013 1:52 pm
US stocks futures stayed almost unchanged foreshadowing a relatively unchanged benchmark indexes during trade today. Investors are waiting on reports on U.S. factory orders and comments from Federal Reserve chairman for New York – William C. Dudley. S&P 500 futures expiring in September were unchanged at 1,606.70 at 13:40 a.m. London time, erasing an earlier […]
Read moreJuly 2, 2013 8:46 am
Tribune stated yesterday that it will add 19 more TV stations from Local TV Holdings LLC for $2.73 billion cash. After the purchase Tribune would become the largest TV owner in the US broadcasting 42 channels. Tribune will now have stations in large markets such as New York, Los Angeles, Miami, Cleveland, Denver, Seattle and […]
Read moreJuly 2, 2013 7:19 am
U.S. stocks advanced, as Standard & Poor’s 500 Index recovered from its first monthly loss since October, as reports showing improved manufacturing in the U.S. That boosted confidence in the global economy. The reports were in a line with a gradually improving economy, but not strong enough to raise concerns about the Federal Reserve reducing […]
Read moreJuly 2, 2013 6:49 am
Onyx Pharmaceuticals, Inc. is a bio-pharmaceutical company. The Company is developing therapies that target the molecular mechanisms which cause cancer. The company has a promising investing future and according to Reuters has added two large pharmaceutical firms to its suitors. Yesterday, the cancer-drug maker rejected an offer of $10 billion from Amgen, stating it is […]
Read moreJuly 1, 2013 2:34 pm
US stocks climbed on positive ISM manufacturing data. The ISM Manufacturing Index monitors employment, production inventories, new orders and supplier deliveries. The increase of ISM is a indicator of stronger economy and is supposed to lead stock prices up. The S&P 500 index advanced by 0.75% at 15:10 pm London time. Meanwhile, Dow Jones Industrial […]
Read moreJuly 1, 2013 12:47 pm
Apple is targeting the worlds biggest market of potential iPhone customers – those of China Mobile. Shares hanging at $395, Apples shares have lost 44% from an all-time high recorded last September. It market cap also has just been surpassed by rival Google. China Mobile is the world largest wireless carrier including more than 700 […]
Read moreJuly 1, 2013 11:15 am
European stock benchmarks rose last week after recording first gain in May as factory output fell less than estimates this month. The Stoxx Europe 600 Index added 0.7% at 11:52 a.m. in London. The benchmark added 1.7% last week as China released steps to ease a cash crunch triggered by shadow banking. It has still […]
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