Business » World

Friday, 17 April 2009

JPMorgan, Nokia lift stocks

2009-04-17 WORLD stocks jumped higher yesterday after US bank JPMorgan Chase reported better-than-expected earnings, overwhelming earlier investors' disappointment about China's economy.Wall Street looked set for a mixed start.JPMorgan reported first quarter...

Thursday, 16 April 2009

Thai drama deals fresh blows to economy

2009-04-16 THAILAND'S fresh political dramas will inflict huge tourism losses, weigh down the stock market, and crimp growth in an economy already in crisis from the global downturn, analysts said yesterday."The government must work hard to restore...

UBS job cuts cloud view to economic recovery signs

2009-04-16 SWISS bank UBS said yesterday it was cutting a further 8,700 jobs as losses from the global financial crisis mount, while data from the United States to China and Korea gave little hope of an imminent end to the economic slump.Stocks fell as...

MAS offers low fares to fuel business

2009-04-16 MALAYSIA AIRLINES yesterday announced ticket price discounts of up to 80 per cent in a bid to boost passenger traffic amid the global economic downturn.The move came after the national carrier saw 2008 profit plummet 71 per cent and slashed fuel...

BUSINESS BRIEFS

2009-04-16 br />Darling to forecast worst UK downturnLONDON: British finance minister Alistair Darling will be forced to take an axe to his economic forecasts next week and admit the economy looks set for its deepest downturn since World War II. Since...

Opec sees stunning drop in demand

2009-04-16 OPEC yesterday again revised down its estimate for world crude demand, predicting that a "devastating contraction" in consumption would keep prices under pressure in the months ahead."In the coming months, the market is expected to...

Indonesia to sell its first global sukuk

2009-04-16 INDONESIA will sell its first ever global Islamic bond as early as this week, a source said yesterday, reviving a sale that will test demand in a sukuk market badly hurt by the global financial crisis.After delaying the sale from late last year at...

Aussie economic activity at 27-year low

2009-04-16 AUSTRALIA'S economic activity contracted in February to its lowest level in 27 years, according to figures released yesterday, suggesting the country is headed for recession.The Westpac-Melbourne Institute leading index, which indicates the likely...

Markets overshadowed by UBS news

2009-04-16 EUROPEAN stocks mostly fell yesterday after overnight losses on Wall Street and earlier in Tokyo, despite US President Barack Obama pointing to "glimmers of hope" for the world's biggest economy.Markets were overshadowed by news that Swiss...

Sukuk to revive in six months, says StanChart

2009-04-16 THE market for sukuk is set to revive in six months with sovereign and corporate issuers raising at least US$10 billion in 2009, the chief executive of Standard Chartered Bank's Islamic unit said.Issuances of sukuk, the Islamic alternative to...

Malaysia economy to shrink 2.2% this year

2009-04-16 MALAYSIA'S export-driven economy will shrink by 2.2 per cent this year, an independent think tank said yesterday amid gloomy business and consumer confidence."If exports shrink severely, the downturn could be more harmful," the Malaysian...

Wednesday, 15 April 2009

BUSINESS BRIEFS

2009-04-15 br />UBS prepares to complete clean sweepZURICH: Stricken Swiss bank UBS was preparing to complete a clean sweep of its leadership at an annual meeting today amid reports that the new management could cut another 10,000 jobs. The world's biggest...

Qantas: No choice but to cut jobs, outlook

2009-04-15 AUSTRALIA'S Qantas announced more job cuts, slashed its profit forecast by more than half and deferred new plane orders yesterday, saying it had no choice if it hoped to weather the global downturn.The flag carrier said it would get rid of up to 1,...

Obama sees economic recovery signs

2009-04-15 PRESIDENT Barack Obama was set to give Americans a progress report yesterday on his steps to rescue the recession-hit economy, telling them there are signs of recovery but "by no means are we out of the woods just yet". "I want to...

Stocks rally on financials

2009-04-15 WORLD stock markets mostly rallied yesterday after upbeat results from Goldman Sachs sparked hope that the banking sector had turned the corner in the global financial crisis, dealers said.Goldman had posted on Monday a first-quarter net profit of...

US protesters brew 'tea party' tax revolt

2009-04-15 CRITICS of President Barack Obama's handling of the economy are planning nationwide "tea parties" today and not for the sake of polite conversation.Coast-to-coast demonstrations against Obama's big-spending economic stimulus package are...

Surprise Goldman Sachs profit kicks off earnings season

2009-04-15 US BANKING giant Goldman Sachs took markets by surprise on Monday, announcing forecast-busting quarterly earnings and a massive US$5-billion share issue to help repay government aid.Goldman Sachs reported first-quarter net profit of US$1.81 billion...

It could get a lot worse for S'pore

2009-04-15 SINGAPORE'S worst economic crisis since independence is predicted to be even worse than expected, with output now forecast to shrink by up to nine per cent in 2009, official data showed yesterday.The Ministry of Trade and Industry (MTI) said gross...

Another cut in 2009 oil demand forecast

2009-04-15 THE US Energy Information Administration yesterday cut its forecast for 2009 world oil demand by 180,000 barrels per day from its prior March estimate to 84.09 million bpd, as the global economy is expected to shrink 0.8 per cent this year.In its...

General Motors to recall 1.5m autos

2009-04-15 TROUBLED US automaker General Motors has informed watchdogs it will have to recall close to 1.5 million cars amid concerns they could catch fire, local media reported.Television network CNN said the firm had reported a potential fuel leak in some...

Pages