The insolvency of an Islamic mortgage lender in Canada may hinder the growth of sharia-compliant finance in North America, where the industry has struggled to gain traction in the absence of a supportive regulatory framework.
Over the past few days, Lehman Brothers has announced several actions one might not expect from what is arguably the most notorious bankrupt company of the last decade. It is looking to name a new board of directors and is engaging in a bidding war for another company.
The top pre-market NASDAQ Stock Market gainers are: Affymax, Taleo, Universal Display, DryShips, Hercules Offshore, Staples, and Huntington Bancshares. The top pre-market NASDAQ Stock Market losers are: Fushi Copperweld, Regeneron Pharmaceuticals, and Research In Motion.
Results from the Lundberg survey, based on about 2,500 stations throughout America, suggest that the national average prices-per-gallon of regular gas has fallen almost nine cents in the past two weeks and almost 18 cents a gallon over the past six weeks. The average price per gallon of gas on Oct. 21 was roughly $3.47, and it's fallen nine cents on average since then.
European stocks rose early on Monday, adding to last week's 8.5 percent jump on growing hopes of a comprehensive solution to the Eurozone debt crisis as French President Nicolas Sarkozy and German Chancellor Angela Merkel meet ahead of a key summit.
Most Asian stock markets ended steady to slightly firmer on Monday, though gains were capped by profit-taking in banking and commodities-related shares as investors waited to see if European leaders can deliver a solution to the region's debt crisis at a summit later in the week.
India may face its worst financial crisis in decades if it fails to stem a slide in the rupee, leaving the Reserve Bank of India with a difficult choice over how to make best use of its limited reserves to maintain the confidence of foreign investors.
Western Digital Corp. (NYSE: WDC), on Thursday, provided an update on its financial outlook for the December quarter and the progress to date of its recovery effort in Thailand. Barclays Capital raised its price target on shares of Western Digital to $40 from $35, while reiterating its overweight rating.
Crude oil prices gained in European trade Monday on fears that growing tensions between Iran and Western powers may threaten crude supply from the Middle East.
Stock index futures pointed to a higher open for equities on Wall Street on Monday, with futures for the S&P 500, the Dow Jones and the Nasdaq 100 up 0.8-0.9 percent.
World stocks and demand for German government bonds rose on Monday as confidence grew European leaders would make big strides in solving the euro zone's debt crisis at a crucial summit this week.
Asian stocks mostly ended on a positive note Monday ahead of Franco-German summit in Paris aimed at halting contagion from Europe's growing debt crisis.
SAP AG (NYSE: SAP) said its unit SAP America Inc. has agreed to buy all outstanding shares of SuccessFactors Inc. (NYSE: SFSF) for $40.00 per share in cash, representing an enterprise value of about $3.4 billion.
Asian shares and the euro steadied on Monday on hopes European leaders would agree on a definitive plan to solve the euro zone's debt crisis at a crucial summit this week, with sentiment also getting a lift from Italy unveiling austerity steps.
Michael Kors Holdings Ltd., the luxury fashion and accessories brand, has announced its decision to prepare an Initial Public Offering (IPO), in New York, hoping to raise about $900 million.
Japan's Nikkei stock average edged higher Monday to build on last week's hefty gains on improved sentiment about the European debt situation, but uncertainty about how markets will assess Italy's new austerity plan capped the upside.
The HSBC Purchasing Managers' Index for China's services sector fell to 52.5 from 54.1 in November, signalling its slowest rate of growth in three months and the latest in a series of data points portraying a quickly cooling economy in need of policy support.
Shares in Samsung Electronics Co Ltd rose more than 2 percent on Monday after Apple Inc's bid to halt U.S. sales of its Galaxy line of products was rejected, easing concern of slowing growth in its telecom business, which generates revenue of $13 billion per quarter.
If you don't have the time to scrutinize U.S. and Europe/Asia economic data points daily, but you still want to take the pulse of the U.S. economy, use the price of oil as a shorthand. Oil, the world's most vital commodity, also provides a quick-read on the U.S. economy.
Earnings season is about a month away, but the early signals are not comforting. Companies lowering estimates outpace those raising them by the greatest ratio in 10 years -- and some sectors, such as materials, have seen a dramatic fall in expectations for the fourth quarter.
The Eurozone will once again serve as the source of Wall Street's angst next week, as investors look to a summit of the region's political leaders for decisive solutions for the ballooning debt crisis.
India's moderating growth will help to ease inflationary pressure in the country, deputy governor of the Reserve Bank of India Subir Gokarn said on Saturday.
Regulators investigating the collapse of MF Global Holdings Ltd. have determined that the firm combined money between securities and futures accounts owned by customers, and transferred funds outside the country to at least one entity, a source said on Friday.
Every country in the Eurozone needs to set up a special national fund for sovereign debt that is more than 60 percent of gross domestic product, Germany's finance minister told a newspaper in comments released on Saturday.
As macroeconomic developments helped boost stock prices on the one hand, comments from central bankers, politicians and others, on the other hand, dampened the party in the equities market.
Stocks ended flat on Friday but capped the best week for Wall Street bulls in almost three years after data showed the U.S. unemployment rate dropped to a 2-1/2 year low.
The Canadian dollar ended weaker against the U.S. currency on Friday, following the euro lower, as worries about Europe's debt crisis and disappointing domestic employment data ended a four-day winning streak.
The U.S. Congress has lifted a five-year-old ban on horse slaughter in America, and many believe it's likely that horse meat for human consumption may be available within the month.
Bank stocks finished up one of the best-performing weeks of the year Friday, as a global coordinated stimulus by the world's top central bankers announced Wednesday injected some badly needed liquidity into the credit markets and signaled a willingness for future intervention if the going gets tougher.
Toronto's main stock index was higher on Friday morning, on track to post its biggest weekly gain in more than two years, pushed up by strong bank earnings, encouraging U.S. jobs data and talk of more action to ease Europe's debt.
