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Archive for the 'Market News' category
February 16, 2010 12:34 am
Banking giant Barclays has seen its full-year profits increase by 92% to £11.6bn in 2009. The figure was boosted by the sale of its BGI fund management arm to US firm BlackRock last year.
Stripping this out, profits were £5.3bn with £2.5bn coming from its Barclays Capital investment banking business.
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Categories: Bank, Market News, US Markets
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China has ordered banks to increase their reserves for a second time this year, as lending is curbed in a bid to stop the country’s economy overheating.
Analysts had expected the central bank to increase reserve levels again, but were surprised it ordered a second increase so soon after
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Categories: Market News, US Markets, World Economy
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February 5, 2010 10:43 am
Air Products and Chemicals launched an unsolicited $5.1-billion cash bid to buy rival Airgas Friday in a move to create the largest industrial gas company in North America. Airgas shares jumped 42 percent in premarket trading.
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Categories: Market News, US Markets
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Toyota President Akio Toyoda has apologised for the recall of millions of cars across the world and pledged to set up a new quality control committee.
Mr Toyoda said he was “deeply sorry” for the recalls and admitted Toyota faced “a moment of crisis”. He added the firm was still deciding
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Categories: Market News, US Markets
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BG Group said its pre-tax profits fell to £857m ($1.4bn) in the three months to the end of December 2009 from £1.3bn in the same period a year ago.
Full year profits for the UK gas producer were down to £3.9bn in 2009,
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JPMorgan Chase, which reported $11.7 billion in profit in 2009, awarded Chief Executive Jamie Dimon a compensation package worth about $16 million.
Bankers’ compensation has been a hot-button issue amid the financial
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Ford has posted an annual profit for the first time in four years. The carmaker made $2.7bn (£1.7bn) in 2009, compared with a loss of almost $15bn in 2008, and said it expects to be profitable this year as well.
For the final three months of last year, the company made $868m, a
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Categories: Market News, US Markets, World Economy
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Honda has announced the recall of 646,000 cars globally to fix a switch defect that could cause a fire.
The recall includes Jazz models, also known as Fit in some countries, built in Japan, China, Brazil, Thailand, Malaysia and India, Honda said.
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January 17, 2010 10:13 pm
Wall Street bank JP Morgan Chase has reported profits of $3.3bn (£2bn) for the last three months of 2009. That compares with profits of $702m reported at the end of 2008 at the height of the financial crisis.
Total profits for the year were $11.7bn, the bank said, with
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Categories: Bank, Forex, Market News, US Markets
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Corporate America has already pledged more than $40 million in donations to support earthquake relief efforts in Haiti. Corporate pledges for Haiti have tripled in the past 24 hours, according to the U.S. Chamber of Commerce.
By Friday, 22 U.S. companies had already pledged $1 million or more
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Categories: Market News, US Markets
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