Latest World Markets News
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Target profit drops on slow apparel sales
-3.65% reported its first-quarter profit fell 29% to $498 million, or 77 cents a share, from $697 million, or $1.04 a share, a year earlier. Adjusted earnings per share were $1.05 in the first quarter, down 5% from $1.11. Revenue fell to $16.71 billion, from $16.87 billion a year earlier, the retail company said Wednesday. Analysts had expected earnings of 95 cents a share on revenue of $16.85 ...
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Intuit posts 3Q profits that narrowly beat Wall Street estimates
TurboTax currently represents about a third of Intuit's annual revenue. Sales of TurboTax are expected to grow just 4 percent this year, prompting the company to invest more time and money into its online and mobile products. Shares of Mountain View-based Intuit are trading flat in early trading today, after the company posted quarterly earnings that mostly met Wall Streets expectations. The ...
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US STOCKS-Wall St to rise at open Bernanke eyed
Wed May 22, 2013 9:15am EDT * Saks rallies on report it could sell itself * Bernanke seen hitting dovish note in testimony * Futures up: Dow 18 pts, S&P 3.6 pts, Nasdaq 10 pts By Rodrigo Campos NEW YORK, May 22 (Reuters) - U.S. stocks were set to rise at the open on Wednesday, ahead of highly anticipated testimony in Congress by Federal Reserve Chairman Ben Bernanke on the economy and monetary ...
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Licensed software boosts economy
Increasing the use of properly licensed software would have a greater impact on the economy than if there were similar growth in the use of pirated software. This was one of the biggest findings from a study conducted by BSA | The Software Alliance and business school, INSEAD. The analysis draws on data from 95 countries to demonstrate the benefits to national economies of using fully licensed ...
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U.K. can do more to boost economy IMF
The U.K. should spend more on infrastructure projects this year and cut corporate taxes to shore up its fragile economic recovery, said the International Monetary ...
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GLOBAL MARKETS-Dollar steadies before Bernanke Wall St seen higher
* Dollar index steady before Bernanke testimony * U.S. stock futures signal more Wall St gains * German bond yields ease, Treasuries firm * European shares ease off multi-year highs By Richard Hubbard LONDON, May 22 (Reuters) - The dollar hovered near a three-year high and German debt yields eased on Wednesday as expectations hardened that the head of the U.S. central bank later in the day would ...
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Sony surges on spin off talk
Shares of Sony spiked to their highest level in two years Wednesday on reports that the company is considering a spin off of its movie and music ...
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Feds Dudley Economic outlook still uncertain
WASHINGTON (MarketWatch) - Federal Reserve officials need three to four more months before they will be able to know if the economy can shrug off the drag from fiscal policy, said New York Fed President William Dudley on Wednesday. At the moment, there is a tug-of-war underway between the improving economy and budget cuts, Dudley said. "Three or four months from now I think you're ...
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Anthony Weiner says hes running for NYC mayor
LONDON (MarketWatch) -- Former U.S. Congressman Anthony D. Weiner on Wednesday announced plans to run for mayor of New York City, in a move to make a political comeback after resigning from the House of Representatives in 2011. In ...
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Indias LIC Housing Fin plans to raise 5 bln rupees via bonds-source
MUMBAI | Wed May 22, 2013 7:10am EDT MUMBAI May 22 (Reuters) - LIC Housing Finance is planning to raise 5 billion rupees ($90.44 million) in 5-year bonds at 8.34 percent, a source with direct knowledge of the matter said on Wednesday. Axis Bank is the sole arranger to the deal, the source said. ($1 = 55.2850 Indian rupees) (Reporting by Archana Narayanan; Editing by Sunil ...
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U.S. mortgage applications tumble as interest rates jump -MBA
NEW YORK | Wed May 22, 2013 6:59am EDT NEW YORK May 22 (Reuters) - Applications for U.S. home mortgages dropped for a second week in a row last week as a spike in interest rates stymied demand for refinancing, data from an industry group showed on Wednesday. The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both ...
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Web Summit to host Nasdaq opening
Trading on the Nasdaq stock exchange, the world's leading market for technology stocks, will be opened for the first time from Ireland on October 30. The opening bell will be rung live on stage in front of 7,000 people at the RDS during this year's Web Summit. According to the Web Summit organisers, remote opening and closing bell ceremonies are extremely rare, with the ceremony ...
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Kamada to raise $69m on Nasdaq next week
KMDA ) plans to raise up to $69 million on Nasdaq next week, following the IPO by Alcobra Pharmaceuticals Ltd. on Tuesday. The capital that Kamada plans to raise will be at a company value roughly equal to its current market cap of $331 million on the Tel Aviv Stock Exchange (TASE). The underwriters, Morgan Stanley (NYSE: MS) and Jeffries & Co. have an over-allotment offer to buy up to an ...
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Sony shares boom on spin-off speculation
Shares of Sony spiked to their highest level in two years Wednesday on reports that the company is considering a spin off of its movie and music ...
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How Apple scores its lower tax bill
Apple is one of America's most profitable companies. And it pays a substantial income tax bill to the U.S. government -- by its own account, $6 billion in 2012 and an estimated $7 billion this ...
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Staples earnings sales shy of forecasts
+0.55% on Wednesday reported sales and earnings for the first quarter that slightly fell short of forecasts, though the company kept its 2013 outlook unchanged. Staples posted first-quarter earnings per share of 26 cents, versus 28 cents in the same period a year ago. Sales for Staples fell 3% to $5.815 billion versus $6.025 billion in the year-ago period. A survey of analysts polled by FactSet ...
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Lowes posts 2.5 rise in profit misses views
+0.17% on Wednesday reported a 2.5% increase in first-quarter net earnings to $540 million, or 49 cents a share, from $527 million, or 43 cents a share, in the year-ago period. Sales slipped 0.5% to $13.1 billion from $13.2 billion, while comparable sales fell 0.7%. Analysts surveyed by FactSet expected earnings of 51 cents a share on revenue of $13.47 billion. For the full fiscal year ...
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Nashua weighs on Reunert
JSE-listed electronics company Reunert says its revenue and profitability declined in the first half of the year, mostly due to its CBI-electric and Nashua segments. Reunert says it will plan for and pursue earnings growth. However, because of tough trading conditions, it will continue to "focus on rigorous cost control, effective cash management and extracting efficiencies from its ...
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Is Sony un-Japanese enough
Few foreign activist investors have made much headway in forcing change in Japan, where a conservative corporate culture favours long-standing ties with banks, business partners and workers rather than shareholders seeking value. Struggling electronics giant Sony, though, with more foreign and fewer bank shareholders, may prove something of an exception. That's the hope, at least, of ...
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Intel revises internal structure
New Intel CEO Brian Krzanich has said that under his leadership, the top chipmaker will be more responsive to customers. Intel's new CEO, Brian Krzanich, has launched sweeping company reorganisation and created a unit aimed at growing its market share in mobile technology. The shake-up, announced internally just days after the 30-year veteran took the helm, places most of the main ...
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Britain to scrutinise Google tax
Google's tax affairs will come under renewed scrutiny in Britain today when the leader of the opposition Labour party accuses the Internet company of wrongly going to "extraordinary lengths" to avoid paying tax. In comments designed to politically outflank prime minister David Cameron ahead of next month's G8 summit on what has become a high-profile issue, Ed Miliband, the ...
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No apology from Apple CEO
Apple CEO Tim Cook (centre), CFO Peter Oppenheimer (left) and Apple head of tax operations Philip Bullock appear before a Senate homeland security and governmental affairs investigations subcommittee hearing on offshore profit shifting and the US tax code, in Washington. Apple CEO Tim Cook made no apology yesterday for the iPad maker saving billions of dollars in US taxes through Irish ...
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U.S. stocks Looking to Bernanke
U.S. stock futures were pointing higher, as investors anticipate that the central bank will not start tapering off its stimulus programs in the near future. Bernanke will discuss his outlook for the economy Wednesday before Congress in a hearing that begins at 10 a.m. ET. Then at 2 p.m. the Fed will release the minutes from its most recent policy ...
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BOE voted 6-3 to keep asset purchases unchanged
LONDON (MarketWatch) -- The Bank of England's Monetary Policy Committee earlier this month voted unanimously to keep interest rates unchanged at a record low 0.5%, while three out of the nine members voted in favor of increasing the bank's asset purchases, according to minutes of the meeting published Wednesday. Governor Mervyn King, Paul Fisher and David Miles preferred to increase ...
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Europe stocks slip ahead of Bernanke comments
LONDON (MarketWatch)-- European stock markets nudged lower in early action on Wednesday, pausing after climbing to multiyear highs in the prior day's session, as investors stayed cautious ahead of comments from the U.S. Federal Reserve Chairman Ben Bernanke. The Stoxx Europe 600 ...
Kyrgyzstan Featured
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Kyrgyzstan must stick to long-term development plans
While news of the political unrest and government change in early 2010 dominates the world headlines, Kyrgyzstan faces an uncertain future as long-term plans for infrastructure development are thrown into disarray and uncertainty.
Kyrgyzstan is one of the poorest countries in Central Asia and stands to benefit greatly from long-term development plans initiated under the auspices of the Central Asian Regional Economic Cooperation (CAREC) Program, if the interim government can move on from the current political crisis and stabilize the country’s economy and political future. Read more
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