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Molson Coors volume slips, shares fall

Molson Coors Brewing Co said beer volumes continue to decline in the current fourth quarter as consumers remain focused on value, and shares fell 8.5 percent.

GMAC posts Q3 loss, hurt by mortgage unit

GMAC Financial Services, a lender that has received $12.5 billion in government bailouts, posted a third straight quarterly loss on Wednesday, hurt by red ink in its mortgage business.

Daily Forecast - 05/11/2009

The Australian Dollar opens higher today at 0.9120 against the greenback. As expected, the US Federal Reserve left interest rates unchanged at the current setting of zero to 0.25 per cent. The Aussie moved to an offshore high at time of writing of 0.9143. During the domestic session on Wednesday, the unit slid down to 0.8970 as retail trade fell 0.2 per cent in September. The disappointing number does not support the case for a third consecutive hike in interest rates by the Reserve Bank of Aust...

Banks keen to join Kraft's $9 bln acquisition loan

Kraft Foods Inc, which has secured a $9 billion bridge loan backing an expected bid for UK confectioner Cadbury, has been contacted by more banks keen to join the deal, senior bankers said on Wednesday.

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Mercenary Mann returns to UK, relieved plot failed

Freed British mercenary Simon Mann said his homecoming was the most wonderful he could have imagined, after earlier expressing relief that his West African coup attempt had failed.

UK energy park gets all clear

Peterborough Renewable Energy Limited (PREL) has been granted approval to build a waste recycling and green power plant that could eliminate the need for landfill sites in the area, the government said on Wednesday.

Opel sale is latest deal undone by recovery

The abruptly scrapped sale of GM's Opel is not the first example of a deal born of the financial crisis being undone by the economic recovery, and probably won't be the last.

Kraft will only pay 800p/share for Cadbury-Investec

U.S. food group Kraft will be willing to pay only 800 pence a share for Cadbury after Kraft's CEO cautioned on overpaying for the British confectionery group, Investec Securities said on Wednesday.

U.S. services sector grows, job losses decline

The U.S. services sector, which represents about 80 percent of U.S. economic activity, grew for the second consecutive month in October, while the labor market also showed signs of improvement in data published on Wednesday.

UK union welcomes GM's decision to keep Vauxhall

Britain's Unite union on Wednesday welcomed the decision by General Motors not to sell its European Vauxhall unit, saying it was a far better deal and that it expected the government to offer financial support.

Services sector grows, job losses decline

Abdullah rules out joining new Afghan government

Technocrats and some existing ministers will be included among Afghan President Hamid Karzai's new government within the next three weeks, a spokesman said on Wednesday, but his main rival ruled out taking any part.

GM's U-turn on Opel sale angers Germany, Russia

German and Russian leaders seethed and unions tore up a deal to cut costs in protest at General Motors' completely unacceptable decision to keep Opel, its European unit, after months of talks.

FTSE up 0.9 pct by midday; retailers, banks gain

Britain's top shares added 0.9 percent by midday on Wednesday, boosted by gains in retailers Marks & Spencer (MKS.L) and Next (NXT.L), which posted forecast-beating results, while financials and miners also rose.

Dollar slips as markets brace for Fed decision

The dollar fell broadly on Wednesday as firmer equity and commodity prices buoyed demand for the euro and perceived riskier currencies, while traders braced for a policy decision from the Federal Reserve.

Daily Forecast - 03/11/2009

The Australian Dollar opens at US90 cents this morning after another volatile 24 hours. The Aussie hit an intraday high yesterday of 0.9090 on the back stronger gold and commodity prices before a rapid half-cent decline moments before the RBA's 2:30pm cash rate announcement. As expected, the central bank hiked rates by 25 basis points with governor Mr Glenn Stevens saying economic conditions in Australia have been stronger than expected and measures of confidence have recovered.

Kraft revenue misses, cites Cadbury deal criteria

Kraft Foods Inc posted weaker-than-expected quarterly revenue and cut its full-year sales forecast on Tuesday ahead of a deadline to make a formal bid for British chocolatier Cadbury Plc .

8 Old Colonial Hotels You Can Still Stay In

Remnants of a bygone world, these colonial memorials are places of nostalgic luxury where century-old traditions are preserved with meticulous care. Their Victorian flavour is reminiscent of Agatha Christie stories (actually, the famous writer stayed in some of them herself).