Fed Unwinds Stimulus; World Markets Slip
Mar 19, 6:01 PM ET |
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| Federal Reserve took another step to unwind emergency steps takes during the late August. The Fed removed the exemption given to six large banks to add liquidity and sustain trading in mortgage and asset backed securities. Investors in Europe await resolution on Greece bailout. |
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U.S., European Markets Rise; Euro Weak
Mar 19, 9:39 AM ET |
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| U.S. stocks edged higher as lawmakers make a final push for the healthcare reform bill. Google may pull out of China. The euro declines as leaders in Europe divide on the nature and structure of the Greek bailout plan. SunPower, Google and Palm Inc drop. |
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Palm, SanDisk, Sapient Drop; Baidu Rises
Mar 19, 11:43 AM ET |
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| SanDisk Corporation led the decliners in the S&P 500 index. Palm reduces net loss after sales surge but the stock drops 14%. SunPower plunges. Boeing accelerates production to meet demands. Sapient Corp reports quarterly net and revenues above expectations. |
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Banks in London Up on Lloyds; CPP IPO
Mar 19, 4:15 PM ET |
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| UK stocks edged up after Lloyds indicated return to profitability this year on lower loan loss charges. CPP Group surged 11% on its first day of trading. African Barrick Gold closed near its spin off price. |
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European Leaders Divide on Greece; IMF Shadow
Mar 19, 9:44 AM ET |
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| European leaders divide as Greece races to cut its borrowing costs. Greece Prime Minister has hoped that the support from the EU leaders will be sufficient to trim the borrowing costs but Greek bond yields trade at twice the German bonds yields. |
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Greece, IMF, ECB, Germany, France Haggle
Mar 19, 12:58 PM ET |
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| European markets and the euro declined as Greece and European leaders struggle to structure the bailout. Increasingly, the International Monetary Fund is viewed as a lender of last resort. Greek unemployment surged above 10%. Pfleiderer AG 2009 sales dropped 21%. |
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Japan Power Demand Surges; Dai-ichi IPO
Mar 19, 6:33 PM ET |
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| Stocks in Tokyo closed higher as the prospect of economic and exports recovery solidify. Japan’s corporate power demand surged 17.7% in February but department store sales declined 5.4%. Dai-ichi Mutual Life Insurance Co. is expected to price its $12 billion public offering this weekend. |
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Chalco, Rio Venture in Africa; Orient Loss
Mar 19, 7:37 PM ET |
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| Indexes in Hong Kong rallied after property developers and resource stocks gained. Chalco surged in HK and in Shanghai trading after the parent agreed to an investment of $1.4 billion in a joint venture with Rio Tinto Plc in an iron ore mine in Guinea. China Eastern gets ready to take 30 new planes. |
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RBI in India in a surprise Rate Hike, Bharti Up
Mar 19, 11:17 AM ET |
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| Reserve Bank of India raised its key lending rate by 25 basis points to cool the inflation that has been inching close to 18% and hovering near 16-month high. Bajaj Auto revs its plan to launch a small car to meet the growing demand. |
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Sydney: Fortescue, Mirvac, Rio Tinto
Mar 19, 7:34 PM ET |
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| Rio Tinto and Chinalco to jointly develop Simandou iron ore project in Guinea. The securities regulators approve a rival trading platform to ASX Ltd. Amcor faces A$697 million lawsuit. Mirvac Group completes the A$150 million debt offering. |
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