ECONOMY & MARKETS

Family Dollar shares jump on buyout bid

A woman walks by the Family Dollar store in Arvada
Shares of Family Dollar Stores Inc. (NYSE: FDO) are soaring after the discount retailer confirmed late yesterday that it has received an unsolicited bid from the Trian Group, a New York hedge fund, at a price of $55 to $60 per share.
Booking mug shot of Bernard Madoff

Bernie Madoff: They Had to Know

They had to know, said the jailed former fund manager Bernie Madoff, referring to bankers and investors who should have been able to uncover his Ponzi scheme.
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Internet slowly kills traditional bookstores

Borders Files for Bankruptcy; Stock Plunges 25 pct

The second largest U.S. bookstore chain Borders Group Inc. (NYSE: BGP) filed for Chapter 11 bankruptcy protection as its book sales started sinking in 2008, 2009, and in each quarter of 2010 even after management changes, job cuts and debt restructuring.
The headquarters of mortgage lender Fannie Mae is pictured in file photo

US mortgage demand fell last week

U.S. home loan demand fell sharply in the week ended Feb. 11, recording a second consecutive weekly decline, the Mortgage Bankers Association (MBA) said on Wednesday.
Traders

World Market update 16/2/2011

Futures on major U.S. stock indices point to higher opening on Wednesday ahead of wave of economic data including producer price index and building permits.
India and Japan, two of Asia's largest economies, signed the landmark free trade agreement (FTA) on Wednesday, paving way for the elimination of  tariffs on more than 90 percent of goods traded between the two countries over the next decade.

India-Japan free trade agreement: A win-win deal

India and Japan, two of Asia's largest economies, signed the landmark free trade agreement (FTA) on Wednesday, paving way for the elimination of tariffs on more than 90 percent of goods traded between the two countries over the next decade.
China’s new regulations on rare earth minerals: report.

China to publish new regulations on rare earth minerals

China will soon publish new regulations to increase supervision of the country's rare earth industry in a move that is likely to drastically change the landscape of the sector, the China Securities Journal informed on Wednesday.

Sanofi sweetens Genzyme bid to $74/shr

French drug maker Sanofi-Aventis agreed to acquire U.S. biotechnology company Genzyme for $74.00 per share in cash or about $20.1 billion plus extra payments linked to experimental multiple sclerosis drug Lemtrada.
Traders work on the floor of the New York Stock Exchange

Stocks fall as retail sales data weighs

U.S. stocks slipped as retail sales raised doubts about the economic recovery. Energy and basic materials equities led the way downward, albeit in moderate trading volume.
Francioni CEO of Deutsche Boerse AG attends a news conference at the Frankfurt stock exchange

Deutsche Boerse, NYSE agree to merge

The NYSE Euronext (NYSE: NYX) and Frankfurt’s Deutsche Boerse have entered into an agreement to merge in a $10-billion transaction that is expected to result in the world's biggest trading vehicle for stocks and derivatives.
U.S. President Barack Obama views a turbine as he tours General Electric's birthplace in Schenectady, New York, January 21, 2011.

NY Fed manufacturing grows in Feb, tops forecast

A gauge of manufacturing in New York State climbed in February to its highest level in eight months, helped by a rise in inventories, the New York Federal Reserve said in a report on Tuesday.
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Gold gains on weaker dollar, China inflation

Gold was set for its largest one-day rise in a week, aided by a weaker dollar and Chinese inflation data that soothed some concern over the prospect of rapid rate rises in the world's second-largest bullion consumer.
A pedestrian walks past the Bank of Japan (BOJ) headquarters in Tokyo February 15, 2011

BoJ raises economic outlook, holds rates

The bank of Japan (BoJ) upgraded its economic outlook, taking cues from a strong recovery in exports and industrial output, but refrained from making any change to the monetary policy.

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