More From IBT Staff Reporter
CT Attorney General: It's Time To Shatter The Old Boys Club Of Rating Agencies
For the few sane people who have been watching and recoiling with horror as Bernanke, Geithner and Bair implement their insidious rich get richer PPIP/TALF plan by relying exclusively on the AAA ratings of the very same rating agencies that were the primary cause of the current economic catastrophe
May 15, 2009
Solar firm PV Crystalox warns on sales, shares hit
British solar company PV Crystalox Solar warned on first-half revenues, on the back of order deferrals, and said it could not guarantee achieving planned 2009 volumes, sending its shares down over 20 percent.
May 15, 2009
EU industry CO2 emissions fall 3 percent in 08: data
Carbon dioxide emissions from heavy industry participating in the European Union's Emissions Trading Scheme (EU ETS) fell 3.1 percent last year compared with 2007, the EU executive Commission said on Friday.
May 15, 2009
Astronauts install high-tech camera on Hubble
A pair of spacewalking astronauts on Thursday outfitted the Hubble Space Telescope with a new camera that will allow astronomers to turn their gaze closer to the birth of the universe.
May 15, 2009
YRC Worldwide to seek $1 billion in bailout funds
No. 1 U.S. trucking company YRC Worldwide Inc plans to seek $1 billion in federal bailout money to help it cover its pension obligations, a spokeswoman said on Friday.
May 15, 2009
J.C. Penney sees full-year profit below estimates
J.C. Penney Co Inc warned that it expects consumer spending to stay weak and forecast second-quarter and full year results below Wall Street's expectations, sending its shares down 3.8 percent before markets opened.
May 15, 2009
Stock futures point lower after eurozone GDP, UBS downgrade
Stock index futures pointed to a lower open on Friday after weak European economic data fanned concerns about the depth of the global recession and UBS cut its rating on global equities.
May 15, 2009
J.C. Penney first-quarter profit lower
J.C. Penney Co Inc posted a lower quarterly profit on Friday as efforts to contain costs and trim inventory failed to overcome a decline in sales, and its shares fell 5 percent before markets opened.
May 15, 2009
GM near deal with UAW: report
Under the direction of the U.S. Treasury, General Motors Corp is close to a deal with the United Auto Workers that would cut its hourly labor costs by more than $1 billion a year, the Wall Street Journal said, citing people familiar with the matter.
May 15, 2009
Abercrombie loss below view; Ruehl under review
Abercrombie & Fitch Co posted a much bigger-than-expected quarterly net loss as cost-cutting efforts failed to offset a sales decline, and its shares fell 7.5 percent in premarket trading.
May 15, 2009
Oil falls below $58 on dollar, weak demand
The U.S. oil price fell almost $1 to below $58 on Friday, pressured by weak demand and as the U.S. dollar firmed against the euro.
May 15, 2009
Opel dealers to vote on taking stake in carmaker
Representatives from Opel's 4,000 dealers in Europe are expected to vote in favor of taking a direct equity stake in the ailing German carmaker when they meet in Vienna on Friday.
May 15, 2009
Stock futures off ahead of consumer data, insurers bailout
Stock index futures pointed to a lower open on Friday ahead of consumer price data, while some financial shares rose on news that four insurers can tap government bailout money.
May 15, 2009
Oil falls towards $58 on dollar, weak demand
The U.S. oil price fell toward $58 on Friday, pressured by weak demand and as the U.S. dollar firmed against the euro.
May 15, 2009
Some insurers may not accept TARP funding: KBW
U.S. life insurers Principal Financial Group, Ameriprise Financial Inc and Prudential Financial Inc, all with a solid capital position, may not accept funds under the U.S. Treasury's Troubled Assets Relief Program , analysts at Keefe, Bruyette & Woods said.
May 15, 2009
Panasonic posts record loss, sees tough year
Japanese electronics maker Panasonic Corp forecast a bigger-than-expected annual loss after booking a record quarter of red ink battered by weak demand, price falls and hefty restructuring costs.
May 15, 2009
Oil edged higher towards $59, equities support
The U.S. oil price firmed slightly toward $59 on Friday as global stock markets rose, although weak demand capped oil's gains.
May 15, 2009
H&M April sales rebound boosts recovery hopes
Fashion chain Hennes & Mauritz said sales rebounded at a faster rate than expected in April as the retail bellwether ended eight months of declines, adding to signs of a tentative recovery in consumer spending.
May 15, 2009
Oil rises towards $59 on firm European equities
Oil prices rose toward $59 on Friday as European equities opened higher, shrugging off gloomy German economic data and a firmer dollar.
May 15, 2009
Stocks rise despite slumping German GDP
World equities rose on Friday yet still looked set to end the week down for the first time in 10 weeks, while poor economic data from German hit the euro and boosted bonds.
May 15, 2009
Panasonic posts record Q4 loss, sees tough year
Japanese electronics maker Panasonic Corp forecast a bigger-than-expected annual loss after booking a record quarter of red ink battered by weak demand, price falls and restructuring costs.
May 15, 2009
Rio says committed to Chinalco tie-up, shares up
Miner Rio Tinto remains committed to a planned $19.5 billion tie-up with Chinese metals firm Chinalco, it said, responding to talk that the deal may be revised to let more shareholders take part in a rights issue.
May 15, 2009
Stocks up on recovery hope; euro slips on Germany
Asian stocks rose on Friday as investors bought shares that stood to benefit the most from an expected global recovery, but were set for their biggest weekly decline since March as volume thinned and some recent gains were cashed in.
May 15, 2009
Panasonic posts annual loss, sees another tough year
Panasonic Corp reported an annual net loss on Friday, battered by weak demand, price falls and restructuring costs, and the Japanese electronics maker forecast a bigger-than-expected loss this year.
May 15, 2009
H&M says April sales rebound, just top forecast
Fashion retail giant Hennes & Mauritz reported on Friday a slightly bigger than expected 8 percent year-on-year rise in sales at established stores in April as spring purchases finally took off.
May 15, 2009
U.S. pressuring BofA on board revamp: report
U.S. Federal Officials have urged banking giant Bank of America Corp to revamp its board and bring in directors with more banking experience, the Wall Street Journal said.
May 15, 2009
Recovery hopes still alive, push up Asia stocks
Asian stocks rose on Friday as investors bought shares that stood to benefit the most from an expected global recovery, but still looked set to post their biggest weekly decline since March on worries equity markets have risen too far, too fast.
May 15, 2009
Google eases trademark restrictions on some U.S. ads
Google Inc is lifting restrictions on the use of trademarked terms in its U.S. online advertising system, a move that could increase friction between the Internet giant and brand owners.
May 15, 2009
Sony shares rise after forecasts of smaller loss
Shares in Sony Corp gained 5 percent on Friday after the Japanese electronics maker forecast a smaller loss than expected for this year, showing it was making progress in its restructuring.
May 14, 2009
Hartford, insurers win OK for Treasury funds
Hartford Financial , the No. 4 U.S. insurer beset by worries about capital, won approval on Thursday to raise $3.4 billion via the government's bank bailout plan, sending its shares 6 percent higher.
May 14, 2009
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