IBT Staff Reporter

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Asia Inc girds for fallout of credit squeeze

Asian companies will have a tough time raising funds and face weaker export demand if the global credit squeeze persists and a deteriorating U.S. housing market crimps consumer spending.
Aug 20, 2007

Google reveals stake in Chinese social Web Tianya

Google Inc revealed on Monday that it had acquired a stake in Chinese community Web site Tianya.cn, indicating a foray by the global search leader into social networking in the world's second-largest Internet market.
Aug 20, 2007

OMX Chairman favors Nasdaq's bid: papers

OMX Chairman Urban Backstrom said Borse Dubai's all-cash bid was not more attractive than Nasdaq's share-and-cash bid and called it hostile, newspapers reported on Monday.
Aug 20, 2007

Nasdaq seeks to sell LSE stake, focuses on OMX

Nasdaq is abandoning its 797 million pound ($1.58 billion) stake in the London Stock Exchange, five months after its takeover bid failed, as it focuses on buying Nordic exchange operator OMX. Nasdaq Stock Market Inc, which needs overseas acquisitions to gain an international foothold, is locked in a $4 billion bidding war with Borse Dubai for OMX.
Aug 20, 2007

HSBC says in talks to buy S.Korea's KEB

HSBC Holdings Plc said on Monday it was in talks to buy a majority stake in Korea Exchange Bank (KEB) worth $4.8 billion from Lone Star, the latest chapter in a lengthy financial and judicial saga.
Aug 20, 2007

Futures point to firmer U.S. open after Fed action

U.S. index futures pointed to a firmer start on Wall Street on Monday, building on gains in the previous session after the Federal Reserve cut the discount rate it charges banks, and with little scheduled news on the agenda.
Aug 20, 2007

After Fed's rescue, volatile days ahead

The Federal Reserve came to the stock market's rescue on Friday but unless credit markets remain stable next week, the salvation may prove little more than a brief respite from its late summer sell-off.
Aug 18, 2007

After policy U-turn, another Fed step anticipated

Just 10 days after reiterating that inflation was its main concern, the U.S. Federal Reserve's policy-setting panel made a 180-degree turn on Friday, laying the groundwork for an interest rate cut as early as next month.
Aug 17, 2007

Hide Now, Buy Later

Clients are urged to sell shares and build up cash until stock markets settle and low prices opportunities emerge.
Aug 17, 2007

GM CEO says consumers holding up despite turbulence

The top executive at General Motors Corp said on Friday that U.S. consumers appeared to be holding up well despite the recent credit crisis that roiled world markets and prompted the U.S. central bank to cut rates.
Aug 17, 2007

August consumer sentiment declines sharply

U.S. consumer sentiment deteriorated in August to its weakest in a year as more expensive oil, declining home prices and turmoil in financial markets all hurt confidence.
Aug 17, 2007

Toys R Us stops sales of China-made bibs

Retailer Toys R Us on Friday said it removed all Hamco Inc.'s vinyl baby bibs, which were made in China, from its shelves as a precaution after an independent tester found two samples of bibs containing excessive amounts of lead.
Aug 17, 2007

Major banks meet with policy officials, praise Fed's move

A group of major banks meeting in a conference call with U.S. monetary policy officials expressed strong support for the Federal Reserve's move on Friday to bring stability to volatile financial markets by reducing the discount lending rate.
Aug 17, 2007

Fed's discount rate cut drives indexes higher

U.S. stocks rose on Friday after the Federal Reserve cut the discount rate at which it lends to banks in a surprise move to keep worsening credit conditions from hurting the economy.
Aug 17, 2007

Fed shifts view on volatile market, lowers discount rate

The U.S. Federal Reserve sought to bring order to volatile financial markets experiencing tighter credit conditions on Friday by lowering the rate at which it makes short-term loans to commercial banks and other institutions.
Aug 17, 2007

J.M. Smucker quarterly profit beats view

Peanut butter and jelly maker J.M. Smucker Co. said on Friday quarterly profit rose a better-than-expected 42 percent, helped by the acquisition of dairy company Eagle Family Foods, lower restructuring costs and gross margin improvement.
Aug 17, 2007

Nasdaq says it remains committed to OMX takeover

U.S. stock market Nasdaq said on Friday that it remained committed to its plan to acquire Nordic exchange OMX and urged shareholders to support its bid after a $4 billion rival offer emerged from Borse Dubai.
Aug 17, 2007

BNP plays down subprime hit, France seeks answers

France's biggest listed bank BNP Paribas said its exposure to subprime risk was limited and manageable as it moved to reassure investors a week after rattling markets by freezing three of its funds.
Aug 17, 2007

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