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Archive for November, 2009
November 29, 2009 11:35 pm
Australian firms rebuilt inventories at a surprisingly rapid pace last quarter and should have added far more than expected to economic growth, seemingly supporting the case for further increases in interest rates.
Yet other data out on Monday also showed weakness in wages, company
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Categories: Market News, World Economy
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Exploration company Heritage Oil has agreed to sell its stakes in two Ugandan oil fields to Italy’s Eni for $1.5bn Heritage will sell its 50% share in the fields for $1.35bn in cash and a deferred payment of $150m.
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Categories: Market News, US Markets
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The US dollar has hit a 14-year low against the Japanese yen with low interest rates in the US making the greenback less attractive to investors.
The dollar fell to 86.28 yen in early Thursday trading, it’s lowest level since 1995, before recovering to 86.61.
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The mobile phone retailer Carphone Warehouse has raised its full-year earnings forecast after recording better-than-expected sales.
Its comments came as it reported an 88% rise in pre-tax profit for the six months to 30 September to £75m. The firm’s revenues rose 13% to £789m.
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Categories: Market News, Money
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November 22, 2009 1:44 am
Volkswagen, Europe’s biggest car company, has announced plans to invest $28.5b over the next three years to boost production.
It will also invest 4.4bn euros in China through joint ventures. The firm has said it plans to overtake Toyota as the world’s biggest carmaker
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Deflation has returned to the Japanese economy for the first time since 2006, the government has warned.
The Cabinet Office said the falling prices could hurt the recovery of the economy, which left recession in the second quarter of this year.
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Categories: US Markets, World Economy
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November 3, 2009 10:20 am
A key US housing index has risen to its highest level in almost three years, helped by first time buyers taking advantage of a popular tax break.
The National Association of Realtors said its Pending Home Sales
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Categories: Market News, US Markets, World Economy
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Australia has raised its main interest rate for the second month in a row, to 3.5% from 3.25%. The move by its central bank was not unexpected as the Australian economy was the only one in the developed world to expand in the first half of 2009.
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Japanese car maker Suzuki Motor has tripled its forecast for full year operating profit, after reporting better-than-expected six-month figures.
Its strength in the Indian market has meant it has performed better than its rivals, which rely more on US sales.
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Categories: Forex, US Markets, World Economy
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