(Reuters) - SAN FRANCISCO, April 19 - Google Inc. reported on Thursday its quarterly net profit rose 69 percent, topping expectations, driven by market share gains in its Web search business, sending its stock up 2.8 percent after-hours.
Net income rose to $1.0 billion, or $3.18 per diluted share, from the year-earlier quarter's $592 million, or $1.95 a share. Excluding stock-option expenses, profit was $3.68 per share versus $2.29 a year before.
Read more at Reuters.com Market News
Thursday, April 19, 2007
European Stocks May Rise on U.S., Asia Rebound; BHP, Siemens Might Climb
(Bloomberg) -- European stocks may advance after a rebound in U.S. and Asian equities. BHP Billiton Ltd. and Rio Tinto Group might track gains in Australia.
Shares of SAP AG may be active after the software maker reported higher earnings. Siemens AG might gain after naming Gerhard Cromme as chairman. Alliance Boots Plc may move after Kohlberg Kravis Roberts & Co. and Italian billionaire Stefano Pessina raised their bid for the company.
Read more at Bloomberg Stocks News
Shares of SAP AG may be active after the software maker reported higher earnings. Siemens AG might gain after naming Gerhard Cromme as chairman. Alliance Boots Plc may move after Kohlberg Kravis Roberts & Co. and Italian billionaire Stefano Pessina raised their bid for the company.
Read more at Bloomberg Stocks News
Gold, Silver Rebound in Asia as Dollar's Fall Boosts Demand for the Metals
(Bloomberg) -- Gold and silver rebounded in Asia as the dollar headed for its fourth consecutive weekly decline against the euro, boosting demand for the precious metal as an alternative investment.
Gold generally moves counter to the dollar, which traded within a cent of its record low versus the euro on speculation slowing U.S. growth will cut the currency's appeal. Gold yesterday had its biggest one day fall since March 2.
Read more at Bloomberg Emerging Markets News
Gold generally moves counter to the dollar, which traded within a cent of its record low versus the euro on speculation slowing U.S. growth will cut the currency's appeal. Gold yesterday had its biggest one day fall since March 2.
Read more at Bloomberg Emerging Markets News
InBev's Ambev withdraws Quinsa minorities bid
(Reuters) - At the expiration of the offer, only 0.63 percent of the voting rights of Quinsa had been tendered to Beverage Associates Holding Ltd , a Bahamian corporation wholly owned by AmBev, AmBev said in a statement on Friday.
The minimium condition was therefore not met, meaning the offer would be withdrawn without BAH purchasing any class A or class B shares.
Read more at Reuters.com Mergers News
The minimium condition was therefore not met, meaning the offer would be withdrawn without BAH purchasing any class A or class B shares.
Read more at Reuters.com Mergers News
Yen slips as stock market worries ease
(Reuters) - The yen slipped on Friday as Asian stocks markets rebounded from a sell-off a day earlier on worries about an overheating Chinese economy, calming fears that investors could rush to unwind carry trades.
The Nikkei share average rose 0.5 percent and Hong Kong's Hang Seng rebounded 0.9 percent on relief that the Dow Jones Industrial average withstood to post a record closing high for a second day in a row on Thursday.
Read more at Reuters Africa
The Nikkei share average rose 0.5 percent and Hong Kong's Hang Seng rebounded 0.9 percent on relief that the Dow Jones Industrial average withstood to post a record closing high for a second day in a row on Thursday.
Read more at Reuters Africa
Nippon Life to Boost Yen Bond Holdings, Focus on Asset-Backed Securities
(Bloomberg) -- Nippon Life Insurance Co., Japan's biggest life insurer, will allocate half of its 500 billion yen ($4.21 billion) in domestic bond investments this fiscal year outside of the government debt market.
The company said it will boost holdings of Japanese residential mortgaged-backed debt by more than 125 billion yen in the year started April 1. Almost 10 percent of Nippon Life's 17.6 trillion yen in yen bond holdings was in asset-backed securities as of March 31, up from 7 percent two years ago, Nippon Life said.
Read more at Bloomberg Bonds News
The company said it will boost holdings of Japanese residential mortgaged-backed debt by more than 125 billion yen in the year started April 1. Almost 10 percent of Nippon Life's 17.6 trillion yen in yen bond holdings was in asset-backed securities as of March 31, up from 7 percent two years ago, Nippon Life said.
Read more at Bloomberg Bonds News
General Motors Says Agreement for Delphi to Exit Bankruptcy Still Possible
(Bloomberg) -- General Motors Corp., the world's largest automaker, said an agreement for Delphi Corp., its largest parts supplier, to exit bankruptcy is still possible even as a prospective investor will likely not participate.
``We're optimistic,'' said GM's Chief Executive Officer Rick Wagoner, in an interview in Shanghai. ``This is part of the process to hopefully bring this to a resolution.''
Read more at Bloomberg Bonds News
``We're optimistic,'' said GM's Chief Executive Officer Rick Wagoner, in an interview in Shanghai. ``This is part of the process to hopefully bring this to a resolution.''
Read more at Bloomberg Bonds News
ASM, Banca CR Firenze and Intesa Sanpaolo: Italian Stock Market Preview
(Bloomberg) -- The following stocks may rise or fall in Italy. Stock symbols follow company names and prices are from the last close.
The S&P/MIB Index fell 312, or 0.7 percent, to 42,974. Futures expiring in June retreated 369, or 0.9 percent, to 42,165.
Read more at Bloomberg Stocks News
The S&P/MIB Index fell 312, or 0.7 percent, to 42,974. Futures expiring in June retreated 369, or 0.9 percent, to 42,165.
Read more at Bloomberg Stocks News
AMD, Amgen, H.J. Heinz, Textron, St. Jude: U.S. Equity Movers Final
(Bloomberg) -- The following is a list of companies whose shares had unusual price changes in U.S. exchanges today. Stock symbols are in parentheses after company names. Share prices are as of 4 p.m. New York time.
Advanced Micro Devices Inc. (AMD US) gained 37 cents, or 2.7 percent, to $14.28 and rose as much as 5.5 percent on speculation a private equity company will invest in the second-largest maker of personal-computer processors. ``I'm hearing speculation that Silver Lake Partners is prepared to take a 25 percent equity stake in AMD,'' said Marc Weinberger, head trader at W. Quillen Securities in New York. Drew Prairie, a spokesman for Sunnyvale, Advanced Micro, said his company doesn't comment on speculation. Elizabeth Hanahan, a Silver Lake spokeswoman, declined to comment. Intel Corp. (INTC US) rose 49 cents to $21.84.
Read more at Bloomberg Stocks News
Advanced Micro Devices Inc. (AMD US) gained 37 cents, or 2.7 percent, to $14.28 and rose as much as 5.5 percent on speculation a private equity company will invest in the second-largest maker of personal-computer processors. ``I'm hearing speculation that Silver Lake Partners is prepared to take a 25 percent equity stake in AMD,'' said Marc Weinberger, head trader at W. Quillen Securities in New York. Drew Prairie, a spokesman for Sunnyvale, Advanced Micro, said his company doesn't comment on speculation. Elizabeth Hanahan, a Silver Lake spokeswoman, declined to comment. Intel Corp. (INTC US) rose 49 cents to $21.84.
Read more at Bloomberg Stocks News
Taiwan Dollar Declines, Set for Second Weekly Drop as Carry Trades Resume
(Bloomberg) -- The Taiwan dollar fell, heading for a second weekly drop, on speculation investors resumed so-called carry trades, selling the currency to buy higher-yielding assets.
A record high close in the Dow Jones Industrial Average of U.S. shares boosted investor confidence in so-called carry trades. Traders yesterday bought back the yen and the Taiwan dollar after China's equities plunged, triggering a sell-off in Asian and European share markets.
Read more at Bloomberg Currencies News
A record high close in the Dow Jones Industrial Average of U.S. shares boosted investor confidence in so-called carry trades. Traders yesterday bought back the yen and the Taiwan dollar after China's equities plunged, triggering a sell-off in Asian and European share markets.
Read more at Bloomberg Currencies News
Wolfowitz lays low as board meets
(Reuters) - A board statement is expected at the end of the meeting.
Board sources said there appeared to be divisions among the board members, with the United States leading a bloc of countries, including some from Asia, who supported Wolfowitz despite questions about his leadership and calls for him to quit.
Read more at Reuters.com Business News
Board sources said there appeared to be divisions among the board members, with the United States leading a bloc of countries, including some from Asia, who supported Wolfowitz despite questions about his leadership and calls for him to quit.
Read more at Reuters.com Business News
India Wipro CFO says rupee rise a concern
(Reuters) - The rupee hit a nine-year high against the dollar this week.
Operating margin for Wipro, which counts telecom gear makers Cisco and Nortel among key clients, declined in the January-March quarter because of wage hikes and stock option costs, Senapaty said.
Read more at Reuters.com Market News
Operating margin for Wipro, which counts telecom gear makers Cisco and Nortel among key clients, declined in the January-March quarter because of wage hikes and stock option costs, Senapaty said.
Read more at Reuters.com Market News
Tokyo Electric Scraps 50 Billion Yen Bond Sale After Borrowing Costs Rise
(Bloomberg) -- Tokyo Electric Power Co., Asia's largest power producer, failed to sell 50 billion yen ($421 million) of bonds this week after rising government bond yields increased borrowing costs, said an official at the company.
The company, known as Tepco, canceled a sale of seven-year bonds which it sought to price at an interest rate between 1.48 percent and 1.50 percent, said the official, who declined to be identified before an announcement. The yield on Japan's seven- year government debt rose to 1.464 percent on April 18 from 1.400 percent on April 13.
Read more at Bloomberg Energy News
The company, known as Tepco, canceled a sale of seven-year bonds which it sought to price at an interest rate between 1.48 percent and 1.50 percent, said the official, who declined to be identified before an announcement. The yield on Japan's seven- year government debt rose to 1.464 percent on April 18 from 1.400 percent on April 13.
Read more at Bloomberg Energy News
Le Pen, Deriding Polls, Prepares for Runoff in French Presidential Race
(Bloomberg) -- Most French presidential candidates are crisscrossing the country, making their final appeals. Anti- immigration leader Jean-Marie Le Pen isn't bothering.
Le Pen, 78, is getting ready for the May 6 runoff that pits the top two finishers from the April 22 first round against each other. He has scheduled just two rallies this month -- as many as the front-runner, Nicolas Sarkozy, holds in a week.
Read more at Bloomberg Exclusive News
Le Pen, 78, is getting ready for the May 6 runoff that pits the top two finishers from the April 22 first round against each other. He has scheduled just two rallies this month -- as many as the front-runner, Nicolas Sarkozy, holds in a week.
Read more at Bloomberg Exclusive News
Nokia CEO forecasts more challenges for network mkt
(Reuters) - "The challenging market dynamics provide further rationale for the creation of Nokia-Siemens Networks."
Nokia earlier repeated that it expects very slight market growth for mobile and fixed infrastructure and related services in euro terms in 2007.
Read more at Reuters.com Market News
Nokia earlier repeated that it expects very slight market growth for mobile and fixed infrastructure and related services in euro terms in 2007.
Read more at Reuters.com Market News
UPDATE 1-BlackRock profit rises, pipeline full
(Reuters) - The New York-based company said net income rose to $195.4 million, or $1.48 a diluted share, compared with $70.9 million or $1.06 cents per diluted share a year ago.
A year ago BlackRock absorbed Merrill Lynch's asset management division in return for Merrill gaining 49.8 percent of the enlarged BlackRock company. Costs for the deal weighed on first-quarter profit, BlackRock said, adding that adjusted first-quarter earnings were $1.59 while adjusted earnings, excluding real estate syndication charges and higher fund launch costs, would be $1.64.
Read more at Reuters.com Market News
A year ago BlackRock absorbed Merrill Lynch's asset management division in return for Merrill gaining 49.8 percent of the enlarged BlackRock company. Costs for the deal weighed on first-quarter profit, BlackRock said, adding that adjusted first-quarter earnings were $1.59 while adjusted earnings, excluding real estate syndication charges and higher fund launch costs, would be $1.64.
Read more at Reuters.com Market News
UPDATE 1-Watsco Q1 earnings fall, sees '07 profit below mkt view
(Reuters) - The Coconut Grove, Florida-based company also forecast 2007 earnings below market view, citing its performance in the last quarter and market trends.
Watsco earned $10.8 million, or 39 cents a share, for the first quarter ended March 31, compared with $13.0 million, or 47 cents a share, in the year-ago period.
Read more at Reuters.com Market News
Watsco earned $10.8 million, or 39 cents a share, for the first quarter ended March 31, compared with $13.0 million, or 47 cents a share, in the year-ago period.
Read more at Reuters.com Market News
UPDATE 1-OptionsXpress 1st-qtr profit misses estimates
(Reuters) - The Chicago-based brokerage said net income for the first quarter rose to $21.3 million, or 34 cents a share, from $18 million, or 29 cents a share a year ago.
Analysts had on average expected earnings of 36 cents a share, according to Reuters Estimates.
Read more at Reuters.com Market News
Analysts had on average expected earnings of 36 cents a share, according to Reuters Estimates.
Read more at Reuters.com Market News
UPDATE 1-Fairchild Semi profit tumbles, shares fall
(Reuters) - Its shares fell 5 percent to $16.75 in premarket trading, compared with its close of $17.70.
Fairchild said that net profit for its fiscal first quarter dropped to $6.3 million, or 5 cents per share, compared with $26.6 million, or 21 cents per share, a year earlier. Adjusted earnings per share for the first quarter amounted to 16 cents, the company said.
Read more at Reuters.com Market News
Fairchild said that net profit for its fiscal first quarter dropped to $6.3 million, or 5 cents per share, compared with $26.6 million, or 21 cents per share, a year earlier. Adjusted earnings per share for the first quarter amounted to 16 cents, the company said.
Read more at Reuters.com Market News
Ametek quarterly earnings rise, raises 2007 view
(Reuters) - April 19 - Ametek Inc. , which makes electronic instruments and electric motors, said on Thursday that its quarterly earnings rose, helped by strong internal growth and contributions from acquired businesses. The company also forecast a sequential increase in second-quarter earnings and increased its 2007 forecast citing current market conditions and the first-quarter results.
Net income increased to $50.9 million, or 48 cents a share, for the first quarter ended March 31, from $40.3 million, or 38 cents per share, a year earlier. Sales were up 19 percent to $505.3 million.
Read more at Reuters.com Market News
Net income increased to $50.9 million, or 48 cents a share, for the first quarter ended March 31, from $40.3 million, or 38 cents per share, a year earlier. Sales were up 19 percent to $505.3 million.
Read more at Reuters.com Market News
UPDATE 2-Steelmaker Nucor's 1st-qtr profit rises slightly
(Reuters) - Net earnings were $381 million, or $1.26 per share, compared with $380 million, or $1.21 per share, a year earlier, the Charlotte, North Carolina-based company said.
Analysts, on average, had expected earnings of $1.24 in the quarter, according to Reuters Estimates. In March, the company forecast earnings between $1.15 and $1.25 a share.
Read more at Reuters.com Market News
Analysts, on average, had expected earnings of $1.24 in the quarter, according to Reuters Estimates. In March, the company forecast earnings between $1.15 and $1.25 a share.
Read more at Reuters.com Market News
Southwest profit rises, plays down buyout talk
(Reuters) - WASHINGTON, April 19 - Southwest Airlines Co. , the leading U.S. discount carrier, said first-quarter earnings rose on Thursday, as higher ticket prices offset rising jet fuel costs.
But the airline warned that unit revenues the current quarter would fall below last year's high levels, as competition heats up in the domestic air travel market.
Read more at Reuters.com Market News
But the airline warned that unit revenues the current quarter would fall below last year's high levels, as competition heats up in the domestic air travel market.
Read more at Reuters.com Market News
EU appoves proposed Orkla-Alcoa extrusion JV
(Reuters) - Soft alloy extrusions are alloy profiles used in the automobile and construction industries.
The extrusion business of Orkla's subsidiary Sapa Group consists of 18 facilities in 12 countries and approximately 6,000 employees. Alcoa's soft alloy extrusion business has 22 facilities in eight countries and about 6,400 employees.
Read more at Reuters.com Mergers News
The extrusion business of Orkla's subsidiary Sapa Group consists of 18 facilities in 12 countries and approximately 6,000 employees. Alcoa's soft alloy extrusion business has 22 facilities in eight countries and about 6,400 employees.
Read more at Reuters.com Mergers News
UPDATE 1-Altria mulls spinoff of international tobacco unit
(Reuters) - "Over the next several months, we will continue to carefully and diligently examine the benefits of a spinoff of Phillip Morris International and other enhancing options to decide the optimal long strategic course to follow," Dinyar Devitre, Altria chief financial officer, said during a conference call with analysts.
Analysts have expected a spinoff of the international tobacco business, which has shown stronger growth than the Philip Morris USA unit, as a second step in the company's corporate overhaul.
Read more at Reuters.com Mergers News
Analysts have expected a spinoff of the international tobacco business, which has shown stronger growth than the Philip Morris USA unit, as a second step in the company's corporate overhaul.
Read more at Reuters.com Mergers News
Cesp, Net Servicos, Petrobras, Vale do Rio Doce: Brazilian Equity Movers
(Bloomberg) -- Brazil's main stock index fell for a third day, led by the world's biggest iron-ore and nickel producer, Cia. Vale do Rio Doce.
The Bovespa Index of the most-traded stocks on the Sao Paulo exchange fell 532.22, or 1.1 percent, to 48,177.62 as of 9:41 a.m. New York time.
Read more at Bloomberg Stocks News
The Bovespa Index of the most-traded stocks on the Sao Paulo exchange fell 532.22, or 1.1 percent, to 48,177.62 as of 9:41 a.m. New York time.
Read more at Bloomberg Stocks News
US STOCKS-Futures fall further after jobless claims
(Reuters) - S&P 500 futures were down 7.9 points, below fair value, a mathematical formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract.
Dow Jones industrial average futures were down 63 points and Nasdaq 100 futures were down 11.75 points.
Read more at Reuters.com Bonds News
Dow Jones industrial average futures were down 63 points and Nasdaq 100 futures were down 11.75 points.
Read more at Reuters.com Bonds News
BB&T profit falls 2 pct as loan losses rise
(Reuters) - NEW YORK, April 19 - BB&T Corp. , a large U.S. Southeast regional bank, said on Thursday first-quarter profit fell 2 percent, as credit losses increased and lending margin declined.
Net income for the Winston-Salem, North Carolina-based company dropped to $421 million, or 77 cents per share, from $431 million, or 79 cents, a year earlier.
Read more at Reuters.com Bonds News
Net income for the Winston-Salem, North Carolina-based company dropped to $421 million, or 77 cents per share, from $431 million, or 79 cents, a year earlier.
Read more at Reuters.com Bonds News
Harley-Davidson profit, sales hit by strike
(Reuters) - CHICAGO, April 19 - Harley-Davidson Inc . said on Thursday quarterly earnings fell as a strike at a key plant idled production for nearly a month.
The U.S. motorcycle maker reported a first-quarter profit of $192.3 million, or 74 cents a share, compared with $234.6 million, or 86 cents a share, last year.
Read more at Reuters.com Bonds News
The U.S. motorcycle maker reported a first-quarter profit of $192.3 million, or 74 cents a share, compared with $234.6 million, or 86 cents a share, last year.
Read more at Reuters.com Bonds News
Home builder D.R. Horton earnings plunge 85 pct
(Reuters) - The Fort Worth, Texas-based builder said results included charges totaling $81.2 million, or 16 cents per share for land options forfeited and for the lower value of inventory of land and houses it owns.
Excluding the land and inventory-related charges, Horton would have reported earnings of 32 cents per share, short of the 36 cents that was the average of analysts' forecasts, according to Reuters Estimates.
Read more at Reuters.com Business News
Excluding the land and inventory-related charges, Horton would have reported earnings of 32 cents per share, short of the 36 cents that was the average of analysts' forecasts, according to Reuters Estimates.
Read more at Reuters.com Business News
UK's Rolls-Royce says withdrawing from Sudan
(Reuters) - Britain's Rolls-Royce Plc will withdraw from doing business in Sudan, it said on Thursday, citing concerns about political and humanitarian conditions in the African nation.
The move comes as talks start on a new U.N. resolution to try to end the violence in Sudan's vast Darfur region.
Read more at Reuters Africa
The move comes as talks start on a new U.N. resolution to try to end the violence in Sudan's vast Darfur region.
Read more at Reuters Africa
UPDATE 1-JMP Group sets 7.92 mln share IPO, $10.50-$12.50
(Reuters) - JMP said in an amended filing with the U.S. Securities and Exchange Commission that it is selling 6 million shares and stockholders are selling 1.92 million.
JMP Securities, Merrill Lynch & Co., and Keefe Bruyette & Woods are underwriting the IPO.
Read more at Reuters.com Government Filings News
JMP Securities, Merrill Lynch & Co., and Keefe Bruyette & Woods are underwriting the IPO.
Read more at Reuters.com Government Filings News
Journal Register profit up on sale, revenue falls
(Reuters) - Revenue fell 5.1 percent to $114.1 million.
The company publishes papers in Connecticut, Pennsylvania, Ohio and Michigan.
Read more at Reuters.com Market News
The company publishes papers in Connecticut, Pennsylvania, Ohio and Michigan.
Read more at Reuters.com Market News
U.S. Stock-Index Futures Drop on China Interest-Rate Concern; Exxon Falls
(Bloomberg) -- Declines in U.S. stock-index futures mirrored losses in Asian and European markets on concern China may raise interest rates to rein in the economy.
Commodity producers Exxon Mobil Corp. and Alcoa Inc. declined as investors speculate higher borrowing costs in China would reduce the nation's demand for oil and metals. Shares of General Electric Co., the second-biggest company by market value, retreated.
Read more at Bloomberg Stocks News
Commodity producers Exxon Mobil Corp. and Alcoa Inc. declined as investors speculate higher borrowing costs in China would reduce the nation's demand for oil and metals. Shares of General Electric Co., the second-biggest company by market value, retreated.
Read more at Bloomberg Stocks News
Pathmark posts fourth-quarter profit
(Reuters) - Pathmark, which operates stores in New Jersey, New York and Pennsylvania, posted a profit of $1.7 million, or 3 cents per share, compared with a loss of $14.6 million, or 28 cents per share, a year earlier. Sales stood at $1,078.5 million, compared with $993.3 million a year ago.
Analysts, on average, expected the Carteret, New Jersey-based grocer to post a loss of 3 cents per share, before special items, according to Reuters Estimates.
Read more at Reuters.com Mergers News
Analysts, on average, expected the Carteret, New Jersey-based grocer to post a loss of 3 cents per share, before special items, according to Reuters Estimates.
Read more at Reuters.com Mergers News
D.R. Horton quarterly earnings fall
(Reuters) - The Fort Worth, Texas-based builder said results included charges totaling $81.2 million, or 16 cents per share for land options forfeited and for the lower value of inventory of land and houses it owns.
Analysts on average expected Horton to post earnings of 36 cents per share, according to Reuters Estimates.
Read more at Reuters.com Market News
Analysts on average expected Horton to post earnings of 36 cents per share, according to Reuters Estimates.
Read more at Reuters.com Market News
AMC Entertainment sets IPO at 39.5 mln shares
(Reuters) - The underwriters have the option to buy an additional 5.9 million shares of common stock.
Read more at Reuters.com Government Filings News
Read more at Reuters.com Government Filings News
Copper Falls in London for Second Day on Surplus Supply; Nickel, Zinc Drop
(Bloomberg) -- Copper fell for a second consecutive day in London on speculation that supplies will keep outpacing demand. Nickel and zinc also dropped.
Production of copper exceeded demand by 115,000 metric tons in the first two months of the year, the World Bureau of Metal Statistics said yesterday. The surplus may rise to 275,000 tons in 2007, according to an official at the International Wrought Copper Council, a group that represents users of the metal.
Read more at Bloomberg Commodities News
Production of copper exceeded demand by 115,000 metric tons in the first two months of the year, the World Bureau of Metal Statistics said yesterday. The surplus may rise to 275,000 tons in 2007, according to an official at the International Wrought Copper Council, a group that represents users of the metal.
Read more at Bloomberg Commodities News
Yuan Gains, China Stocks Slump on Speculation Central Bank to Raise Rates
(Bloomberg) -- China's stocks slumped and the yuan climbed to a post-revaluation high as a government report raised speculation the economy is growing fast enough to force the central bank to raise interest rates.
The government said today gross domestic product expanded 11.1 percent in the three months ended March 31, exceeding 10 percent for a fifth quarter. China has increased borrowing costs three times in 11 months to cool the world's fastest-growing major economy and curb inflation, which quickened to the fastest in more than two years in March.
Read more at Bloomberg Currencies News
The government said today gross domestic product expanded 11.1 percent in the three months ended March 31, exceeding 10 percent for a fifth quarter. China has increased borrowing costs three times in 11 months to cool the world's fastest-growing major economy and curb inflation, which quickened to the fastest in more than two years in March.
Read more at Bloomberg Currencies News
Asian Stocks Slide, Yen Gains on Concern China May Trigger Rout in Markets
(Bloomberg) -- Asian stocks tumbled the most in five weeks and the yen surged on concern a slide in Chinese shares will trigger a repeat of February's global rout.
China's benchmark CSI 300 Index fell 4.7 percent, the biggest decline since Feb. 27, before the government said the economy grew a faster-than-expected 11.1 percent in the first quarter. The report suggested that interest rates may need to rise further to prevent overheating.
Read more at Bloomberg Emerging Markets News
China's benchmark CSI 300 Index fell 4.7 percent, the biggest decline since Feb. 27, before the government said the economy grew a faster-than-expected 11.1 percent in the first quarter. The report suggested that interest rates may need to rise further to prevent overheating.
Read more at Bloomberg Emerging Markets News
UPDATE 1-Lonza says 2007 performance to exceed guidance
(Reuters) - In slides to be presented later in the day, the group said 2007 performance was expected to exceed guidance based upon continuing operations.
Lonza expects annual sales growth of 8 percent to 12 percent annual and operating profit growth in mid-to-high teens to 2012.
Read more at Reuters.com Bonds News
Lonza expects annual sales growth of 8 percent to 12 percent annual and operating profit growth in mid-to-high teens to 2012.
Read more at Reuters.com Bonds News
JGBs rebound from 3-month lows on stock sell-off
(Reuters) - JGBs gained some reprieve after U.S. Treasuries rallied on Wednesday as investors refocused on housing and other weak areas of the economy after recent evidence of receding inflationary pressure.
A 1.7 percent tumble in the Nikkei share average gave a boost to JGBs, a day after they fell on caution before the Bank of Japan's twice-yearly outlook report due next week.
Read more at Reuters.com Bonds News
A 1.7 percent tumble in the Nikkei share average gave a boost to JGBs, a day after they fell on caution before the Bank of Japan's twice-yearly outlook report due next week.
Read more at Reuters.com Bonds News
India May Get Above Normal Rainfall This Year, State-Owned Researcher Says
(Bloomberg) -- India's monsoon, a four-month rainy season that supports a fifth of Asia's fourth-biggest economy, may be above normal this year, likely boosting farm output and helping the government slow prices that reached a two-year high.
The rains that water rice, sugarcane, soybean, peanut and lentil crops will be more than normal, B.N. Goswami, director of Indian Institute of Tropical Meteorology, said yesterday in a phone interview from Pune, a western Indian city.
Read more at Bloomberg Commodities News
The rains that water rice, sugarcane, soybean, peanut and lentil crops will be more than normal, B.N. Goswami, director of Indian Institute of Tropical Meteorology, said yesterday in a phone interview from Pune, a western Indian city.
Read more at Bloomberg Commodities News
Telefonica says values Airwave at 2.98 bln euros
(Reuters) - Airwave's network is used by Britain's emergency services.
Read more at Reuters.com Mergers News
Read more at Reuters.com Mergers News
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