Last Financial News
| Campbell Soup 2Q net income falls but beats expectations on |
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CAMDEN, NJ - Campbell Soup Co. says its second-quarter net income fell 14 percent as it faced higher commodity costs and spent more on marketing for its core soup business. Campbell Soup Company net income |
| Emerging Markets, Ketchup Give Heinz a Lift on |
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By MIA LAMAR HJ Heinz Co. on Friday said its fiscal-third-quarter earnings rose 4% as emerging markets and ketchup helped drive sales growth. 4.2 8.8 Emerging markets H. J. Heinz Company William R. Johnson |
| Frankfurt Airport workers strike causing hundreds of flight cancellations on |
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BERLIN - Hundreds more flights were canceled Friday at Frankfurt Airport, Europe's third busiest, as a ground workers' strike entered its second day. Airline Frankfurt airport Frankfurt am Main GDF Suez Lufthansa Strike action |
| Anglo Beats Profit Estimates, May Change Platinum-Unit Size on |
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By Carli Cooke Feb. 17 (Bloomberg) -- Anglo American Plc, a producer of metals and minerals from Africa to Brazil, said profit climbed 23 percent, beating estimates, and is considering changing the size of its platinum unit to restore returns. Anglo American Commodities Cynthia Carroll De Beers Nickel iron ore |
| Encana Strikes $2.9 Billion Shale Deal With Mitsubishi on |
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By MICHAEL J. DE LA MERCED On Friday, Encana, a Canadian natural gas producer, said that it has formed a partnership with Mitsubishi, receiving an investment from the Japanese conglomerate worth 2.9 billion Canadian dollars, or $2.9 billion. British Columbia Cash flow Cubic foot Encana Mitsubishi Natural gas |
| ECB Said to Swap Greek Bonds for New Debt to Avoid Losses on |
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By Jeff Black (Updates with credit-default swaps in ninth paragraph. For more on the debt crisis, see EXT4.) Feb. 17 (Bloomberg) -- The European Central Bank is swapping its Greek bonds for new ones to ensure it isn't forced to take losses in a debt ... Euro European Central Bank Eurozone Greek debt |
| Weak pay control adds to grim investment bank Q4 on |
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By Steve Slater | LONDON Feb 17 (Reuters) - A failure to get to grips with staff pay and the cost of reshaping businesses added to grim trading activity and dragged Europe's top investment banks to a collective 1.6 billion euro ($2.1 billion) loss last ... BNP Paribas Credit Suisse Goldman Sachs Moody's Morgan Stanley UBS AG (USA) |
| US STOCKS-Futures up on Greece but gains limited after rally on |
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* Optimism over Greek bailout supports investor sentiment * Best day in two weeks lifts S&P to 9-month high * Futures up: S&P up 2.2 pts, Dow 44 pts, Nasdaq 1 pts By Angela Moon NEW YORK, Feb 17 (Reuters) - US stock index futures rose Friday on signs ... Dow Jones Industrial Average Moody's Morgan Stanley Nasdaq Composite Standard & Poor's |
| Europe stocks rise on Greek hopes, US data on |
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By Sara Sjolin, MarketWatch LONDON (MarketWatch) - European stock markets rose Friday as renewed hopes for a Greek bailout and fresh US economic data spurred investors into riskier assets. BAE Systems Eurozone FTSE 100 Index HSBC Moody's Royal Bank of Scotland |
| Athens Hoping to Seal Bailout Deal Monday on |
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Greece appears to be closing in on a new international rescue package despite unresolved doubts among euro zone partners about how fast it will manage to bring its debt down. Athens Euro European Union Eurozone Greece |
| Ahead of the Bell: Consumer prices on |
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(AP) WASHINGTON - Consumer prices probably rose in January for the first time in four months because of rising gas costs. But economists are downplaying the anticipated bump because inflation has been tame otherwise. Energy crisis Federal Reserve Major appliance Natural gas PPI Producer price index |
| Air Liquide Sees Global Economy Returning to Normal After Pause on |
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Air Liquide SA (AI), the world's largest producer of industrial gases, said demand from major manufacturers is returning to normal after Europe's debt crisis prompted them to hold off investment and draw down inventories. Benoit Potier Euro Flash Platform Industrial gas Net profit net income |
| 12 Tax Scams to Avoid Like the Plague on |
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Hawking or buying into blacklisted tax ideas can attract heavy fines or even prison. The IRS warns the public of the worst tax scams annually, now in Hollywood-style videos. Internal Revenue Service Tax |
| Monti Bonds Gain as Merkel, Sarkozy Busy at Home: Euro Credit on |
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Enlarge image Italy's Prime Minister Mario Monti Italy's Prime Minister Mario Monti Jock Fistick/Bloomberg Prime Minister Mario Monti is emerging as a game-changer in Europe's debt crisis as German Chancellor Angela Merkel tackles a domestic political ... Angela Merkel Berlin Chancellor of Germany Eurozone debt crisis |
| Encana, Mitsubishi In C$2.9 Bln Partnership For BC Gas Assets on |
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By Carolyn King Of DOW JONES NEWSWIRES Encana Corp. (ECA) said Friday that Japan's Mitsubishi Corp. (8058.TO) will invest about C$2.9 billion (US$2.9 billion) to acquire a 40% stake in Encana's undeveloped Cutbank Ridge natural-gas assets in ... British Columbia Cash flow Cubic foot Encana Mitsubishi Natural gas |
| Canadian Dollar Gains as January Consumer Prices Rise More Than Forecast on |
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The Canadian dollar rose versus its US counterpart as a government report showed the inflation rate increased last month more than forecast, supporting the case for higher interest rates. Canada Canadian dollar Euro Petroleum |
| ECB Greek Debt Swap Deal Risks Undermining Sentiment on |
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By Nick Cawley and Tommy Stubbington Of DOW JONES NEWSWIRES LONDON (Dow Jones)--A European Central Bank proposal to swap its Greek bonds for new bonds threatens to undermine the positive sentiment in peripheral euro-zone debt markets as investors ... Euro European Central Bank Eurozone Greek debt |
| Postal agency sees $18B loss a year on |
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WASHINGTON - Mired in red ink, the US Postal Service is warning it will lose as much as $18.2 billion a year by 2015 unless Congress grants it new leeway to eliminate Saturday delivery, slow first-class mail by one day and raise the price of a postage ... Patrick Donahoe Post office shooting Tax United States Postal Service |
| US STOCKS-Futures little changed after S&P rally to 9-mo high on |
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* Optimism over Greek bailout supports investor sentiment * Best day in two weeks lifts S&P to 9-month high * Futures: S&P up 1.5 pts, Dow 28 pts, Nasdaq down 2.5 pts NEW YORK, Feb 17 (Reuters) - US stock index futures were little changed Friday as ... Apple Microsoft NASDAQ New York Stock Exchange |
| Oil hits 8-mth highs in London on |
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LONDON - Brent oil prices hit an eight-month high on Friday, driven by simmering geopolitical tensions over key crude producer Iran and optimism the Greek debt crisis can be resolved, traders said. Brent Crude European Union Iran Price of petroleum Tehran |
| Bank Wegelin Gives Up Independence, Sells Swiss Business to Raiffeisen on |
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Wegelin & Co., the 270-year-old
Swiss private bank, agreed to a sale to Switzerland ’s Raiffeisen
Group after coming under investigation in the U.S. for allegedly
helping Americans evade taxes.
The U.S. business, and the risks and responsib Bank secrecy Credit Suisse Konrad Hummler Private Bank Raiffeisen Group Swiss bank Switzerland US clients US taxpayers Wegelin accounts indictment partners sale statement |
| GM May Accelerate Opel Restructuring on Sales on |
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The financial crisis in Europe is
adding new urgency to General Motors Co. (GM) ’s attempt to turn
around its money-burning Opel unit.
GM, which has already trimmed its European work force by
5,800, is considering a variety of additional steps Adam Akerson Ammann Bank AG Bauknecht CEO Chevrolet DWS Dan European German Germany Girsky Korea to Europe Lee Management Nov Opel brand Volkswagen board closing costs environment figures industry investment jobs market operations planning restructuring revenue sale unit |
| Solar CEOs See Boom in China Will Ease Glut in 2012: Energy on |
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China may double its installations
of solar panels this year, absorbing excess production that
depressed prices and margins in 2011, chief executive officers
from two of the industry’s top five manufactures said.
Suntech Power Holdings Co. CEO Bloomberg CEO Chinese Energy Finance GAO Germany Holding Co Italy Ltd Shi Suntech capacity developers estimates government industry installations lot manufacturers meeting panel makers panels and Trina percent of the market prices production technology |
| Canada’s Dollar Reverses Advance as U.S. Economic Growth Trails Forecast on |
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Canada ’s dollar reversed an advance
against its U.S. counterpart as economic growth in America, the
nation’s biggest trade partner, expanded less than forecast in
the fourth quarter.
The loonie, as the currency is known for the image of the
aqu Canadian dollar Greece currency domestic product |
| Higher Temperatures in U.S. East Next Week May Cut Energy Use by Up to 20% on |
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Milder weather in much of the
central and eastern U.S. next week may mean the region will use
about 20 percent less energy for heating than usual, according
to David Salmon of Weather Derivatives.
Temperatures along the East Coast and western Great MDA Maryland Rogers Salmon average energy use |
| Occupy London Squat at UBS Puts Empty Buildings in Spotlight on |
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Squatting -- the occupation of land
and buildings by people who have no legal title to them -- has a
long history in Britain. Participants in the Peasants’ Revolt of
1381 squatted on uncultivated acreage.
In 1946 thousands of homeless British oc Blair London group building |
| Treasuries Pare Losses After U.S. Says Growth Was Slower Than Forecast on |
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Treasuries pared losses after a
government report showed the pace of U.S. growth at the end of
last year was slower than forecast by economists.
The 30-year bond remained lower on speculation the Federal
Reserve ’s pledge to keep its benchmark 10-year 30-year bond Benchmark Bloomberg Fed Federal Securities Treasuries United States consumer debt economists inflation interest notes percentage points price index rate target |
| Crude Oil Erases Earlier Gains After U.S. Economy Grows Less Than Forecast on |
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Oil snapped a two-day increase after
disappointing U.S. economic growth in the fourth quarter
undermined hopes that fuel demand in the world’s largest crude
consumer will rebound.
Futures were little changed, having wiped out most of this
week’s Crude United States oil |
| Euro Erases Gains Against Dollar as 4th Quarter U.S. GDP Trails Forecast on |
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The euro erased gains against the
dollar after a report showed the U.S. economy grew less than
forecast in the fourth quarter, damping demand for riskier
assets.
The 17-nation currency was headed for a second straight
weekly gain after Europea Euro Greece US GDP currency dollar |
| Ford Fall Short of Profit Estimates on |
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Ford Motor Co. (F) posted fourth-quarter
profit that fell short of analysts’ estimates as overseas
operations dragged down results while a one-time tax gain
resulted in the company’s biggest annual profit since 1998.
Ford reported its 11th con 8.8 Dearborn Deferred tax Europe European market Ford Motor Robert Willens Thai floods US sales average estimate net income valuation allowance |
| Euro Pares Gain Against Dollar After U.S. 4th Quarter GDP Trails Forecast on |
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The euro pared its gain against the
dollar after the Commerce Department reported fourth quarter
gross domestic product grew at a 2.8 percent annual rate, slower
than forecast.
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| Medicare Overpaid Insurers $3.1 Billion in 2010 on |
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Insurers offering Medicare health
plans were overpaid by the U.S. as much as $3.1 billion in 2010
because the government miscalculated how sick beneficiaries
were, federal auditors said.
UnitedHealth Group Inc. (UNH) of Minnetonka, Minnesota, a California Democrats House Medicare Advantage United States Waxman customers health insurers payments report risk |
| Samling Global, Glenealy, Lingui Plantations Get Buyout Offers From Parent on |
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Glenealy Plantations Bhd. (GLPA) said it
got an offer from Samling Strategic Corp. to privatize Hong
Kong-listed Samling Global Ltd. (3938) , and in turn a proposal to
privatize the company and Lingui Developments Bhd.
If a formal offer is put Bhd Glenealy Plantations Lingui Sarawak hectares |
| Osborne Says British Treasury Will Take Charge of Any Future Bank Bailouts on |
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Chancellor of the Exchequer George Osborne proposed laws to give the British Treasury sole power
over when to bail out banks, sweeping aside opposition from the
central bank as he seeks to end confusion over who should take
charge during a crisis. Bank of England British Treasury Osborne Treasury Committee central bank powers |
| Economy in U.S. Grows Less Than Economists Forecast as Consumers Hold Back on |
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The U.S. economy expanded less than
forecast in the fourth quarter as consumers curbed spending and
government agencies cut back, validating the Federal Reserve ’s
decision to keep interest rates low for a longer period.
Gross domestic produc Bloomberg Fed US economy consumers government income inflation job prior period report |
| D.R. Horton Reports First-Quarter Profit as Homebuilding Revenue Increases on |
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D.R. Horton Inc. (DHI) , the largest U.S.
homebuilder by volume, reported first-quarter profit that beat
analyst estimates after a year-earlier loss as revenue from home
sales rose.
Net income was $27.7 million, or 9 cents a share, for the
three R Horton backlog of houses net income revenue |
| T. Rowe Price’s Net Income Declines 1.7% After Stock Markets Drop on |
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T. Rowe Price Group Inc. (TROW) , the asset
manager that has posted a profit every quarter since going
public in 1986, said quarterly earnings fell for the first time
in more than two years after stock markets declined.
Net income decreased 1.7 Group Inc Index Rowe Price T Rowe T Rowe Price United States asset company manager net income standard stocks |
| Italian Notes Advance on Bill Sale as Spain Debt Jumps, German Bunds Trail on |
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Italian bonds rose, with two-year
yields sliding to the lowest since September, after the nation
sold bills at lower yields amid mounting optimism an agreement
on a Greek debt swap was close.
Spanish bonds jumped for the fifth day, and the secur 10-year Bank European German Italian bonds Spanish basis points bunds debt investors percentage |
| Legg Mason Net Income Tumbles 54% as Managing Fees Decline on Lower Assets on |
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Legg Mason Inc. (LM) , the Baltimore-based
money manager with 17 straight quarters of redemptions, said
fiscal third-quarter profit declined 54 percent as assets fell,
lowering fees for managing investors’ money.
Net income dropped to $28.1 mi Bond Index Legg Mason assets fees funds money net redemptions results stock |
| Greenlight Capital, JPMorgan Cazenove Employees Fined by FSA on Share Sale on |
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A former compliance officer at
Greenlight Capital Inc. (GRLE) and a trading desk director at JP Morgan
Chase & Co.’s Cazenove unit were fined in the U.K. over
Greenlight’s sale of Punch Taverns Plc (PUB) shares in 2009.
Alexander Ten-Hol Agnew Cazenove David Einhorn FSA Greenlight Capital Insider trading JP Morgan JPMorgan Lehman Brothers Ten-Holter compliance officer director |