Daily Forecast - 21/10/2009
The Aussie dollar continued to press higher in Asia yesterday trading marginally above the 93 cent handle following the release of the RBA board minutes with the central bank continuing to send the same bullish signals on interest rates. Support for the high yielding AUD continued throughout European trade with buyers lining up ahead of 0.9250 that was until North American investors entered. Disappointing housing data out of the U.S triggered a flight back into the Greenback and subsequently pus...
Green building materials startup expects big 2010
Poornima Gupta
Wall St ends lower on profit taking; Yahoo up late
U.S. stocks retreated from 12-month highs on Tuesday as disappointing housing and inflation data prompted investors to book recent gains despite strong results from bellwethers including Apple and Caterpillar.
BHP declares force majeure on Olympic Dam output
BHP Billiton, the world's largest miner, has declared force majeure on some copper and uranium contracts after damage to a shaft at its Australian Olympic Dam mine, it said on Wednesday. The miner has sent force majeure notices to some customers, a move that frees it from liability if it can't meet a contract due to events beyond its control.
IRS warned again of homebuyer credit fraud
The internal watchdog for the U.S. Internal Revenue Service is expected to warn the agency for the fourth time about fraud in the multibillion dollar homebuyer tax credit program, according to a report to be released at a congressional hearing later this week.
Faltering Iran talks to resume, deal possible - IAEA
High-stakes talks between Iran and big powers that stalled Tuesday will resume Wednesday and the U.N. nuclear watchdog chief said a deal was still in reach to help allay concerns about Tehran's nuclear program.
8 Small and Beautiful Italian Islands You’ve Probably Never Heard Of
One of the most popular tourist destinations in the world, Italy has few, if any, unexplored corners. Places like Capri or Taormina can sometimes seem like a caricature of themselves, their natural beauty suffocating amidst tourist hoards and souvenir shops.
Yahoo triples profit, shares up
Yahoo Inc's third-quarter profit more than tripled from a year ago, beating Wall Street estimates and sending its shares climbing 3 percent.
EU seeks system where no bank too big to fail
The European Commission underlines its commitment to creating a system where ailing banks can collapse without dragging down the economy in a draft of a document due to be released this week.
Wall St ends lower on weak data, profit taking
U.S. stocks retreated from 12-month highs on Tuesday as disappointing housing and inflation data prompted investors to book recent gains despite strong results from bellwethers including Apple and Caterpillar.
California sues State Street over pension funds
California's attorney general sued State Street Corp on Tuesday for committing an unconscionable fraud against the state's largest pension funds and is seeking to recover more than $200 million in alleged illegal overcharges and penalties.
Droid reveals release date via cryptic message
Verizon's recent Droid ad poked fun at Apple's iPhone, but was shy when it came to offering a Droid release date, saying only November.
Space agencies, Google seek ways to save forests
Space agencies and Google Inc are helping an international project to monitor forests by satellite to fight global warming, the head of an international earth observation group said on Tuesday.
Apple preempts Windows 7 with Magic Mouse, iMacs, Mac minis
Apple updated its entire Mac lineup on Tuesday, including its desktop iMacs, a new unibody MacBook, the Mac mini, and the newest addition to the Apple product line is a wireless, multitouch mouse.
Wall St slips as weak data sparks selling
U.S. stocks retreated on Tuesday, marking the third pullback in 12 sessions, as disappointing housing and inflation data prompted investors to book recent gains despite strong results from bellwethers, including Apple and Caterpillar.
IRS warned multiple times on homebuyer credit fraud
The internal watchdog for the Internal Revenue Service is expected to warn the agency for the fourth time about fraud in the multibillion dollar homebuyer tax credit program, according to a report to be released at a congressional hearing later this week.
Schumer jumps into dark pool debate ahead of SEC meet
U.S. Senator Charles Schumer on Tuesday jumped in to the debate over anonymous trading venues known as dark pools, calling for tough new regulations a day before the U.S. Securities and Exchange Commission meets to consider new rules.
Flu-related products may lift U.S. makers' profits
Sales of hand sanitizers, cleansers and face masks in the midst of the H1N1 flu pandemic may provide a profit boost this quarter, but are not expected to drive manufacturers' results long-term.
EU fails to agree climate funds
Talks on a new U.N. climate deal stumbled on Tuesday when European Union finance ministers failed to agree funds for poor countries and India reiterated demands for aid to help curb its emissions.
Lockheed Martin posts profit, sees 2010 down
Lockheed Martin Corp posted better-than-expected quarterly profit aided by a lower tax rate and share count on Tuesday, but revenue missed Wall Street estimates and the defense contractor warned earnings would drop in 2010, sending its shares down more than 5 percent.
Apple unveils new Macs for the holidays
Apple Inc rolled out a new line of redesigned Mac computers on Tuesday, hoping to build up sales momentum for its biggest business heading into the all-important holiday season.
Credit Suisse changes executive pay structure
Credit Suisse said on Tuesday it would make executives wait three-to-four years for their bonuses, as governments press banks to use compensation packages to limit excessive risk taking.
TIMELINE-GM's proposed Opel stake sale to Magna
General Motors was set to decide this week whether to sign a contract to sell a majority stake in European arm Opel to Canadian parts maker Magna and Russia's Sberbank.
Volkswagen to take 49.9 percent stake in Porsche AG
Volkswagen on Tuesday said it would pay 3.9 billion euros ($5.8 billion) to take a bigger than planned 49.9 percent stake in Porsche AG as a first step to a full merger with Porsche SE by 2011.
Sherwin-Williams Q4 outlook weak; shares fall
Sherwin-Williams Covposted a quarterly profit that beat Wall Street estimates on lower interest expense and cost savings, but shares fell 6 percent on the paint maker's disappointing fourth-quarter earnings outlook.
Small is bountiful for private equity in Japan
Private equity firms often fret that it is hard to source deals in Japan because companies there loathe making big restructuring moves.
Pfizer third-quarter profit rises
Pfizer Inc reported higher third-quarter profit as aggressive cost-cutting offset a negative foreign exchange impact and declining sales of drugs, including those facing competition from cheaper generics.
Western Union Q3 profit beats estimates, stock up
Western Union Co said quarterly earnings fell after settlement charges, but beat expectations and the world's largest payment transfer company improved its outlook for 2009, sending shares up 1 percent.
U.S. must tackle emissions first: Chu
The United States should get its own carbon-emitting house in order before looking to slap tariffs on energy-intensive goods from developing countries like China and India, U.S. Energy Secretary Steven Chu said on Tuesday.
U.S. needs gas tax, 50 mpg standard -Hess CEO
The U.S. needs to levy high taxes on gasoline and to require tougher automobile fuel efficiency standards to conserve energy, the chief executive of one of the country's biggest oil companies said on Tuesday.
