Clunker trade-ins to boost July U.S. auto sales
The punishing four-year decline in U.S. auto sales may have reached a turning point this week -- just as Michael Papa handed over the keys to his 1996 Ford Explorer for a government-sponsored trade-in. See Full Article here.
UBS shares soar following favorable tax deal
Shares in UBS soared on Monday after reports said the Swiss bank would not be liable to pay a fine and that the bank would also pass on fewer client names than expected in a settlement of U.S. tax litigation. The case is expected to be finalized later this week. See Full Article here.
HSBC earnings plunge by 57 percent
HSBC Holdings Plc, reported a 57 percent fall in earnings for the first six months of 2009, the plunge was blamed on surging losses from bad loans. The banks reported first-half net profit was $3.35 billion compared to $7.7 billion in the first half of 2008. See Full Article here.
Loews posts lower-than-expected Q2 profit
Conglomerate Loews Corp on Monday reported a lower-than-expected second-quarter profit, hurt mainly by higher investment losses. The New York-based company, run by the billionaire Tisch family, posted earnings from continuing operations of $341 million, or 78 cents a share, compared with a profit of $511 million, or $1.00 a share, in the same period a year ago. See Full article here.
Germany upbeat on prospects for Opel talks this week
The German government has seen encouraging signals in recent days in negotiations to take over Opel and has positive expectations for talks this week, a government spokesman said on Monday. See Full article here.