Asian Stocks Advance as Singaporean Bank Earnings Beat Analysts' Estimates Asian stocks rose after United Overseas Bank Ltd. and Oversea-Chinese Banking Corp.’s earnings beat analyst estimates, offsetting concerns that U.S. lenders will need more capital.
Benchmark Stock Exchange Index Drops in Mumbai; ICICI, HDFC Bank Decline Indian stocks fell for a second day as some investors judged the 46 percent advance in the benchmark Sensitive index from this year’s low in March to be excessive.
Indian Rupee Falls for First Time in Four Days on Decline in Global Stocks India’s rupee weakened for the first time in four days on concern a slide in the nation’s stocks will reduce investor appetite for local assets.
Government Bonds Rise a Second Day on Spare Cash, Central Bank Purchases India’s 10-year bonds rose for a second day, the first back-to-back gains in two weeks, on speculation rising cash at banks and debt purchases by the central bank will boost demand for the securities.
Asia Needs Further Stimulus as Growth Slumps on Depressed Demand, IMF Says Asian economies face a “long recovery ahead” from the global slowdown and “forceful” fiscal measures are still needed to lift the region out of the recession quickly, the International Monetary Fund said.
Congress, Key Opposition Deadlocked as Polls Enter Final Week: India Votes India’s election race has tightened with the ruling Congress party-led alliance holding a slender lead over its chief rival with two-thirds of voting completed, the Times of India said, citing estimates by its reporters.
Oil Climbs After Petroleum Institute Says Crude Stockpiles Fell Last Week Crude oil rose above $55 a barrel for the first time since November after the American Petroleum Institute said supplies of crude and gasoline declined in the U.S., the world’s largest energy-consuming country.
Payrolls Reduced 491,000 by U.S. Companies, Fewer Than Estimated, ADP Says Companies in the U.S. cut fewer jobs in April, indicating the worst of the recession’s employment losses may have passed, a private report showed today.
Goldman Sachs's $100 Million Trading Days Reach Record 34 in First Quarter Goldman Sachs Group Inc. reaped more than $100 million in trading revenue on a record 34 separate days during the first three months of 2009, almost double the number in all of 2005.
Fed Planning End to Wall Street's Hammerlock Over OTC Derivatives Market The Federal Reserve is planning for the first time to break Wall Street’s hammerlock on so-called over-the-counter derivatives and bring more regulation to the $684 trillion market.
Rich Americans Default on Luxury Homes as Losses Emulate Subprime Victims Chuck Dayton put down a quarter of the $950,000 purchase price when he bought his house in Newport Beach, California, in 2004. He was making $500,000 a year with his drywall company and he expected home values to keep rising.
Heebner Tripled Trading as CGM Fund Coped With New Cash, Shift Out of Oil Kenneth Heebner, the top-ranked U.S. fund manager in the past decade, almost tripled the value of trades by his CGM Focus Fund last year as he shifted out of oil stocks and invested $3 billion of new shareholder cash.
Kelly Girds Southwest for No-Growth Era as Recession Dents `Golden Shield' Gary Kelly says he’s prepared to steer Southwest Airlines Co. through a recession after halting the carrier’s expansion for the first time. His 35,512 employees aren’t all buying into the no-growth strategy.
source: Bloomberg
