India’s economy likely grew at its slowest pace in more than two years during the final months of 2011 as high interest rates and booming input costs hampered manufacturing activity, a Reuters poll predicted. Gross domestic product in Asia’s third-largest economy grew at an annual 6.4% in the quarter to end-December, according to the poll [...]
Standard & Poor’s on Monday cut Greece’s long-term ratings to ‘selective default’, the second ratings agency to proceed with a widely expected downgrade after the country announced a bond swap plan to lighten its debt burden. S&P said that once the debt exchange is concluded, it would likely raise Greece’s sovereign credit rating to the speculative ‘CCC’ category. “We [...]
It seems that the Indian market is just refusing to go down. The Nifty consolidated in the range of 5,300-5,400 for the sixth consecutive session. The market started the week on a quiet note. It went through a weakish patch before stabilising, taking a cue from strong European markets. The Nifty closed flat just about short of [...]
On January 13, Standard & Poor’s Ratings Services cut the credit ratings of nine euro zone countries, stripping France and Austria of their triple-A status and triggering new concerns about the region’s financial health. Since then, the lead analyst in the downgrades, who long has toiled in obscurity as an economist, has gone largely quiet as [...]
Apple CEO Tim Cook is set to hit the stage in the first week of March to unveil a new iPad. According to AllThingsD’s sources, Apple will be boasting the heir to the iPad 2 at the Yerba Buena Center for the Arts in San Francisco, which has become Apple’s favorite big announcement venue. Although [...]
Asian stock markets dropped Friday after Europe’s finance ministers demanded more spending cuts from Greece before clearing a euro130 billion ($170 billion) bailout to stave off the country’s bankruptcy. Benchmark oil hovered below $99 per barrel while the dollar rose against the euro but fell against the yen. Japan’s Nikkei 225 index fell 0.3 percent to 8,978.33. Hong Kong’s [...]
Credit Suisse posted a surprise fourth-quarter net loss after taking almost 1 billion Swiss francs ($1.1 billion) of charges to speed cost cutting and offload risky assets to meet stiffer capital rules. “Our performance for the fourth quarter 2011 was disappointing,” said Chief Executive Brady Dougan. “It reflects both the adverse market conditions during the period and the impact [...]
Walt Disney Co’s quarterly revenue fell short of Wall Street’s expectations after the movie studio put in a poor showing, but profit grew at a faster-than-expected 12 percent clip as media networks and theme parks held strong in an uncertain economy. Disney shares fell 1.8 percent to $40.28 in after-hours trading. The operator of television networks ESPN and ABC, a movie studioand theme parks, [...]
Stocks rose slightly on Tuesday, but with the outcome of discussions on a bailout package for Greece uncertain, investors are unlikely to make big bets in coming days. The S&P has gained almost 7 percent in 2012 on better-than-expected economic figures, boosting bellwethers such as Microsoft Corp (MSFT.O) to yearly highs and Apple Inc (AAPL.O) to a [...]
The Nifty dropped below the 5350 level following fall in European markets. France’s CAC, Germany’s DAX and Britain’s FTSE lost 0.4-0.8%. Capital goods, metals stocks, and heavyweights like Infosys and SBI weighed down the market. The BSE benchmark was down 82 points at 17,625 and the NSE benchmark fell 26 points to 5,335.35 amid choppy trade. Shares [...]
