Daily Commentary - 30/07/2009
After attempting to retest the 83 cent handle in early Asian trade yesterday the Aussie dollar ran into some resistance, peeling back to settle around 0.8250 during the afternoon. Early European investors however sold the high yielder after concerns about the Japanese economy following the country's poor Retail Trade data, a much lower than expected German CPI reading and sharp declines in commodity prices.
Motorola post profit even as revenue falls
Motorola Inc posted a quarterly profit versus a year-earlier loss as it cut costs and shipped more cell phones than expected, although revenue fell short of Wall Street estimates.
Motorola posts profit even as revenue falls
Motorola Inc posted a quarterly profit versus a year-earlier loss as it cut costs and shipped more cell phones than expected, although revenue fell short of Wall Street estimates.
U.S. trust in business bounces back from low
Trust in business has rebounded from 10-year lows in the United States, but the majority of Americans still do not count on corporate America to do what is right, according to a survey released on Thursday.
Futures rise on profit optimism; GE upgraded
Stock index futures rose on Thursday following another string of stronger-than-expected quarterly corporate profits, including from Visa Inc , and fresh indications that the global economic downturn is easing.
China's central bank reassures on monetary policy
China's central bank pledged to maintain loose monetary policy to support the economy and said it would ensure sustainable credit growth without resorting to heavy-handed quotas to rein in a lending spree.
Car and truck maker results weak, see upturn
Automakers in Europe and Japan unveiled weak results for the first half of the year on Thursday and are set to keep tight control over costs but most predict an improvement in conditions for rest of 2009.
Sony, Sharp post losses, Nintendo loses steam
Sony and Sharp's third straight quarters of losses underscore the challenges they face in flat TV market as they struggle to compete with Samsung Electronics and other South Korean rivals benefiting from a weaker won.
NYSE Euronext cuts jobs, as Q2 profit drops
Transatlantic exchange group NYSE Euronext on Thursday said it planned to cut 290 jobs in Europe and the U.S. as second-quarter earnings before one-off items dropped 34 percent to $132 million.
TSMC signals strong chips recovery
TSMC , the world's largest contract chipmaker, underlined the strong recovery in the once-struggling sector as it clocked its biggest profit in three quarters and raised its capital spending target.
Car and truck maker losses mount, outlooks steadier
French carmaker Renault on Thursday posted a worse-than-expected loss on for the first half in line with results at its European rivals as auto sales fell sharply but it said the outlook is stabilizing.
World stocks, commods up after China, Europe earnings
World stocks and commodity prices rose on Thursday after China's central bank reaffirmed loose monetary policy and European corporate earnings cheered investors, while the dollar and government bond prices fell.
BA's Walsh seeks delay in Boeing order payments: report
British Airways is seeking to renegotiate installment payments to Boeing Co for the 787 Dreamliners the carrier has ordered, the Wall Street Journal, reported, quoting the carrier's Chief Executive Willie Walsh as saying in an interview.
Senate probes Goldman, Deutsche: report
Goldman Sachs Group Inc and Deutsche Bank AG were issued subpoenas by a U.S. Senate panel looking for evidence of fraud in the 2008 mortgage-market meltdown, the Wall Street Journal said, citing people familiar with the matter.
China central bank vows to use market tools to manage credit
China's central bank pledged to maintain loose monetary policy and use market tools, not quota-style controls, to ensure sustainable credit growth that will support economic recovery.
Asian shares gain, Shanghai see-saws
Chinese stocks see-sawed in skittish trade on Thursday, as the central bank reaffirmed loose monetary policy, while other Asian markets regained enough poise after the previous day's shakeout to edge back to 2009 highs.
Shell profit falls 70 percent but beats forecast
Royal Dutch Shell Plc posted a 70 percent fall in net profit in the second quarter, as oil prices and refining margins tumbled, but foreign exchange gains helped the oil major beat forecasts.
Unemployment spreads distress in U.S. home loans
Cities in the U.S. Sun Belt states of California, Florida, Nevada and Arizona dominated the record foreclosure spree in the first half of the year, but distress in other regions emerged as joblessness spread, RealtyTrac said on Thursday.
CORRECTED: American Air aims for alliance approval by October
(In July 29 story, corrects paragraphs 1, 5 to ... inter-alliance ... not,... intra-alliance)
Sony posts loss on firmer yen, weak TVs
Sony Corp posted a quarterly operating loss as a stronger yen and weakness in its TV business countered the impact of cost cuts and the company retained its outlook for an annual loss.
Asian shares steady after bruising; oil pauses
Asian share markets were largely steady on Thursday, struggling to regain multi-month highs, while Shanghai shares see-sawed after a 5 percent sell-off the previous day that sent other markets reeling.
Oil dips towards $63 on U.S. crude build, China fears
Oil eased toward $63 a barrel on Thursday, after sliding almost 6 percent the day before on data showing a jump in U.S. crude stocks, while the market kept an eye on measures by China to manage credit growth.
Foxconn suicide turns spotlight on counterfeiting
One week after the apparent suicide of a Chinese factory worker accused of stealing a carefully guarded Apple iPhone prototype, one question remains unanswered: what happened to the missing phone?
Oil dips towards $63 on US crude build, China fears
Oil eased toward $63 a barrel on Thursday, after sliding almost 6 percent the day before on data showing a jump in U.S. crude stocks, while the market kept an eye on measures by China to manage credit growth.
Visa quarterly earnings beat estimates as costs fall
Visa Inc reported better-than-expected quarterly earnings on Wednesday, as the world's largest credit card network cut expenses and credit-strapped consumers used their debit cards more.
Phone call to NYSE set off Braikan fraud probe
A phone call to the New York Stock Exchange from an investor worried that he'd just been duped helped spark a chain of events early last week that led U.S. authorities to file fraud charges against a Kuwaiti financier, who was later found dead in his home.
Mac flaw could let hackers get scrambled data
A Mac security expert has uncovered a technique that hackers could use to take control of Apple Inc computers and steal data that is scrambled to protect it from identity thieves.
Visa Q3 earnings beat estimates, costs fall
Visa Inc reported better-than-expected quarterly earnings on Wednesday, as the world's largest credit card network cut expenses and credit-strapped consumers used their debit cards more.
South Korea fishing boat held by North: official
A South Korean fishing boat likely crossed a maritime border into North Korea early on Thursday and is being towed by a North Korean patrol boat to a North Korean port, a South Korean military official said.
CORRECTED: Visa Q3 earnings beat estimates, costs fall
Corrects headline to show the company reported its fiscal third quarter results, not second quarter results
