China To Top US As No. 1 Business Travel Destination: Report
According to a new report from the Global Business Travel Association, 12- to 15-hour flights to China may soon become the norm for U.S. and European business travelers.
Strong May Car Sales Drive US GDP Growth: Kelley Blue Book
U.S. auto sales will likely reach a 14.2 million seasonally adjusted annual sales rate in May 2012, the greatest year-over-year gain in more than 12 months, as consumers take advantage of credit and low interest rates to replace aging cars. Moreover, increasing car sales are now a primary driver of U.S. GDP growth, according to a Wednesday report by Kelley Blue Book.
Cisco, Dell, HP: Is A Tech Recession Coming?
Because they report quarterly results generally out of the regula,r pattern technology giants Cisco Systems (Nasdaq: CSC), Hewlett-Packard Co. (NYSE: HPQ) and Dell (Nasdaq: DELL) are technology bellwethers. Do their dismal dismal forecast presage downturn?
Benihana To Be Privatized For $296 Million
Japanese restaraunt chain Benihana Inc. (Nasdaq: BNHN) has agreed to be taken private and sold to Angelo, Gordon & Co.'s private equity group for around $296 million after profits fell in the past year because of increased costs.
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Germany Now Borrowing Money For Free
Investors on Wednesday eagerly snatched up a new two-year German bond with a zero-percent coupon, meaning investors were willing to pay to loan money to Europe's strongest economy when expected inflation is factored in. The yield ended at 0.07 percent.
Global Stocks Fall On Fears Of Greek Exit From Euro Zone
Asian, European and U.S. stocks fell hard Wednesday on rising fears and uncertainty about a possible Greek exit from the euro zone as well as concerns over slowing economic growth.
Air India Pilots Strike: High Court Issues Contempt Notice To Striking Pilots
The Delhi High Court Wednesday issued a contempt notice to the striking Air India pilots for not complying with its previous order restraining them from continuing with the strike.
Pre-Market Movers (Dell, Facebook, Alcoa, Renren, Jive Software, BlackRock, Alcatel Lucent, FreightCar America)
Among the companies whose shares are moving in pre-market trading Wednesday are: Ares Capital Corp, Alcatel Lucent, FreightCar America, Jive Software, Dell Inc, Renren Inc, BlackRock, Alcoa and Facebook Inc.
Gold Standard Redux: Swiss Parliament Debates Creating ?Gold Franc?
The Swiss parliament debated Tuesday whether to create a gold-backed national coin to float in parallel with the Swiss franc, becoming the first national legislature in decades to consider issuing a currency based on a commodity.
US Stock Futures Down Ahead Of EU Summit; Dell In Focus
Futures on major U.S. stock indices point to a lower opening Wednesday ahead of new home sales data for April and a European Union summit.
Asian Stock Markets Slump On Euro Zone Concerns
Market sentiment continued to be negative as a report quoting former Greek prime minister Lucas Papademos stated that Greece was considering preparations to leave the euro zone. Greece will hold fresh elections June 17.
Asian Stock Markets Fall Amid Greek Exit Fears
Asian stock markets declined Wednesday as renewed concerns of Greece's probable exit from the euro zone dampened sentiment.
Fiscal Cliff - A 2013 Recession Triggered By Capitol's GOP, Dems?
The U.S. economy will likely dip into another recession in the first half of 2013 if planned tax increases and spending cuts are allowed to go into effect in January, the Congressional Budget Office said.
European Stocks Boosted By Positive Outlook: Daily Markets Wrap
Comments regarding a rebound in the Chinese economy from the Organization for Economic Cooperation and Development lifted stocks earlier Tuesday and kept Asian and European bourses in the green. The comments came after Chinese Prime Minister Wen Jiabao said last weekend his government would focus more on growth than inflation.
Market Winds May Be Shifting
The G8 leaders also said that it is ?our imperative to promote growth and jobs?.
Memorial Day Weekend 2012: Money-Saving Travel Tips For Your 3-Day Getaway
AAA projects 34.8 million Americans will travel 50 miles or more from home during the 2012 Memorial Day holiday weekend, but most are still concerned about their budget.
UK Government Denies Illegal Promises Were Made to Opel and General Motors: Report
The UK government may have made illegal promises to General Motors Co. (NYSE: GM) to shift production of the Astra compact car to its Opel/Astra plant in England from locations in Germany, reports said.
U.S. Existing Home Sales Rose 3.4% In April
U.S. sales of previously owned homes rose 3.4 percent in April, reversing three months of declines and suggesting a stabilization of the housing market, the National Association of Realtors said Tuesday.
US Existing Home Sales Rose 3% In April
U.S. home resales rose in April to their highest annual rate in nearly two years and a falloff in foreclosures pushed prices higher, hopeful signs for the country's economic recovery.
Indian Rupee Falls To New Low, Sensex Drops 1 Percent
Bombay Stock Exchange's benchmark Sensex fell Tuesday by more than 145 points, or 1 percent, as the rupee tumbled to a record low of 55.39 against the dollar.
US Stock Futures Edge Lower Ahead Of Home Sales Data
Futures on major U.S. stock indices point to a slightly lower opening Tuesday ahead of existing home sales data that are expected to show a rise in April sales.
Espirito Santo Downgrades Biocon, Questions Its Accounting Practices
Portuguese investment bank Espirito Santo has downgraded Indian bio-technology major Biocon from neutral to sell based on several issues, including accounting practices which the bank says are objectionable.
Asian Markets Rise On China?s Growth Promise And Europe's Easing Worries
Asian markets rose Tuesday as China promised to spur growth and France and Germany agreed to prevent Greece from exiting the euro zone.
Asian Stocks Advance Amid China?s Growth Pledge
Asian stock markets advanced for the second day Tuesday as China's commitment to stimulate growth in the world's second largest economy and signs of cooperation between German and French leaders buoyed sentiment.
Nikkei Gains Ground
Japan's Nikkei share average rose in early trading Tuesday, continuing Monday's technical correction as investors picked up bargains after last week's flurry of aggressive selling, triggered by concern over a deepening euro crisis.
Eaton Corp. To Buy Cooper Industries For $11.8 Billion
Industrial manufacturer Eaton Corp. (ETN) said Monday it would buy electrical equipment company Cooper Industries Plc for $11.8 billion to expand into the electric industry.
Stocks Rally, China Hints At Stimulus: Daily Markets Wrap
The strain in this relationship between Germany and France was apparent Monday as finance ministers from both countries failed to resolve the question whether the euro zone would benefit from issuing joint European bonds. Berlin rejects the idea, stipulating that struggling economies need to clean up their messes before being given a reason not to.
Travel & Tourism Industry Driving Economic Recovery In The Americas: Report
The WTTC argues that travel and tourism?s contribution to GDP is faster than most other sectors in the Americas and will grow by 3.6 percent over the next 10 years, a much faster rate than mining (1.5 percent), education (2 percent), chemicals (2.5 percent) and financial services (3.4 percent).
US Lets China Bypass Wall Street For Treasury Orders: Reuters Exclusive
China can now bypass Wall Street when buying U.S. government debt and go straight to the U.S. Treasury, in what is the Treasury's first-ever direct relationship with a foreign government, according to documents viewed by Reuters.
Barclays To Sell Entire Stake In BlackRock For $6.1 Billion
Barclays PLC, the UK's second-largest bank by asset, said Monday it plans to sell its entire $6.1 billion stake in U.S. asset manager BlackRock Inc., as the tougher global regulatory environment has made such holding less attractive.
Celebrity Net Worth: Why Does Anybody Care?
I have never understood the public's obsession with the wealth and personal lifestyles of celebrities and the super-affluent
Existing Home Sales, Durable Goods, China PMI: Economic Events For May 21 - 25
This week's economic calendar is relatively light in the U.S. with the releases of existing home sales, durable goods orders, and the University of Michigan consumer confidence survey. Attention will likely focus on data out of Europe. Euro zone PMIs, Germany IFO survey, and first-quarter gross domestic product data for the U.K. will be released.
Indian Rupee Falls To Record Low Of 55 Against Dollar
The Indian rupee Monday touched a record low of 55 against the dollar because of the strong demand for dollar from importers, weak global cues and delay over policy reforms from the government.
Pre-Market Movers (Yahoo, ABB, Hewlett-Packard, Ultra Clean, ARM Holdings, Lowe's, Seadrill, United States Steel, Logitech)
The companies whose shares are moving in pre-market trading on Monday are: Ultra Clean Holdings, Seadrill, Yahoo, Frontline, ABB Ltd, Logitech International, United States Steel, Hewlett-Packard and ARM Holdings.
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