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SMFG Investment in Goldman; Aso Next PM
Sep 24, 6:48 PM ET |
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| Sumitomo Mitsubishi will invest as much as 100 billion yen or $1 billion in Goldman Sachs after Warren Buffett agreed to invest $5 billion in the recently converted bank. Taro Aso is elected as the fourth prime minister in less than two years in Japan but elections are likely in less a year. |
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EdF Acquires British Energy for £12.5 B
Sep 24, 5:29 PM ET |
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| The French state controlled nuclear utility company agreed to acquire British Energy for £12.5 billion or $23 billion. UK government which holds 36% of the stock, welcomed the deal. Separately, UK retail sales declined in September as higher food and energy prices curb consumer spending. |
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China Props Up Financials, Yili Down 10%
Sep 24, 5:33 PM ET |
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| Stocks in HK and Shanghai rose as financial staged a mild rebound after China stepped up purchase of bank stocks. However, inflation and global slowdown worries persisted in China trading. HK reported second quarter balance of payment surplus of HK$10.3 billion. Yili drops 10% for the second day. |
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Nuclear Deal With India Advances
Sep 24, 2:16 PM ET |
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| Civilian nuclear deal between the U.S. and India was approved by the U.S. Senate panel and will be put for a vote on the U.S. Senate. The number of mobile telecom users in India cross 300 million after the country adds more than 9 million users in August. |
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Financials Lift Aussie Stocks, RBA $10 B Swap
Sep 24, 6:45 PM ET |
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| Stocks in Australia rose after financial stocks in the region rose and the benchmark index added 1.2%. The IMF lowered its growth estimate for Australia to 2.7% in the current year. The U.S Federal Reserve offered $10 billion credit swap lines in the U.S. dollar to ease liquidity. |
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Buffett Invests $5 Billion in Goldman Sachs
Sep 23, 8:09 PM ET |
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| Warren Buffett agreed to invest $5 billion in preferred stock with 10% dividend in Goldman Sachs. Goldman Sachs recently elected to convert itself into a bank supervised by the Federal Reserve. Goldman Sachs stock in the after hours rose 8% after the deal. |
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Bernanke, Paulson Fail to Impress Markets
Sep 23, 5:28 PM ET |
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| Stocks in the Americas and Europe fell as more lawmakers voice their concerns on the lack of details about the U.S. bailout plan. The Fed chairman Bernanke and Treasury secretary Paulson failed to convice lawmakers why they need $700 billion and why there should not be more debate. Brazil falls 4%. |
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U.S. Lawmakers Seek Details; Oil, Metals Fall
Sep 23, 5:51 PM ET |
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| U.S. stocks accelerate their losses as lawmakers debate the details and size of the bailout plan. Executive compensation, the nature of auctions and regulatory oversights are some of the key concerns of the senators of both parties. Crude oil and metals prices fell on global worries. |
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Early Optimism Fades, Senate Skepticism
Sep 23, 5:08 PM ET |
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| Stocks in New York edged higher as lawmakers debate details of the $700 billion bailout plan. Dollar traded lower against euro and Japanese yen. Crude oil traded lower after surging to a record one-day gain. Nomura agrees to buy Lehman banking asset in Europe and Middle East. |
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Gloom In Europe Trading
Sep 23, 1:42 PM ET |
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| European stock markets declined as mining and financial stocks fell. Investors are increasingly voicing their concerns with the lack of details in the U.S. $700 billion bailout plan which dragged financial stocks lower. Metal prices fall dragged mining companies in the region. |
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