The Sensex closed rangebound session on a flat note following lacklustre global markets. Mixed set of numbers too kept the Nifty moving around 5050 level during the day; Reliance and Sterlite disappointed the street with less than expected bottomline numbers in Q3 while L&T’s numbers were above expectations and Maruti’s profit was in line with estimates. The BSE benchmark [...]
There are weeks when it can sound as if the European sovereign debt crisis is going round in circles. Barbed exchanges between Italian Prime Minister Mario Monti andGerman Chancellor Angela Merkel carry echoes of a prolonged dialogue of the deaf between Greece and Germany two years ago when Berlin was resisting calls to bail out Athens. Then as now, a debt-stricken government [...]
Morgan Stanley Chief Executive James Gorman was awarded a $10.5 million bonus for 2011, down 25 percent from the previous year, according to a source familiar with the matter. All of Gorman’s bonus will be deferred for a period of two to three years, including a $5.1 million restricted stock award detailed in a filing with the U.S. Securities [...]
IBM and Microsoft drove the Dow Jones industrial average higher Friday after the tech giants reported stronger earnings than analysts expected. Microsoft said sales of Xbox games and Office software helped push revenue up in the last quarter of 2011. IBM credited better sales of software and services and raised its earnings outlook for the year. Microsoft rose 6 [...]
It was a dull session on Wednesday following a stellar rally yesterday. It stayed moderately lower for major part of the session led by profit booking. Global markets too consolidated today. Index heavyweight Reliance Industries was the star performer while TCS, post its numbers, dragged the technology space down. The Sensex was down just 14.58 points at [...]
The World Bank warned developing countries on Wednesday to prepare for the “real” risk that an escalation in the euro area debt crisis could tip the world into a slump on a par with the global downturn in 2008/09. In a report sharply cutting its world economic growth expectations, the World Bank said Europe was probably already in recession. If the euro area debt [...]
Honda Motor Co <7267.T> will completely overhaul its flood-hit factory in Thailand in a project that could cost more than 50 billion yen ($650 million), the Nikkei businessdaily reported on Sunday. Thailand’s worst floods in half a century late last year hit Honda the hardest among Japanese automakers, with its 240,000-cars-a-year plant in the Ayutthaya Province in central Thailand submerged under water. Honda, Japan’s [...]
The drag of the European debt crisis on investment banking weighed on JPMorgan Chase & Co’s fourth-quarter profit, sending financial stocks tumbling even as the bank provided evidence that the domestic economy is strengthening. Chief Executive Jamie Dimon said the New York-based bank was seeing signs of improvement in credit quality as well as loan demand from corporations and [...]
Oil prices finished lower Friday on fresh concerns about Europe’s economy as credit ratings agency Standard & Poor’s downgraded France, Austria and other European countries. Benchmark crude fell by 40 cents to end at $98.70 per barrel in New York. Brent crude, which is used to price foreign oil that’s imported by U.S. refineries, fell by 70 cents to end at [...]
European shares and the single currency rose on Friday after positive comments on the region’s outlook from theEuropean Central Bank and the success of Spain’s bond auction, with attention focused on Italy’s first debt sale of the year. “The euro has risen after (Thursday’s) auctions were much better than expected but it’s only a correction so far and there’s [...]
