Lead Story
Two day jump in Singapore currency compared to US and Hong Kong dollars
Singapore dollar strengthens against its fellow currencies in Wednesday early deals. The Singapore currency arrived at 2-day peak besides the currencies of US and Hong Kong. In second quarter, Singapore’s Business Receipts Index for services industries rose 13.3 percent year-on-year, according to the Department of Statistic’s economic news. The index increased 13.9 percent excluding of [...]
{More»}Economy
Dollar Gains Oil Falls»
The relationship between dollar and oil once again showed signs of their closeness. On Tuesday with $113 a barrel oil prices fell as as gains by the U.S. dollar against other major currencies pulled investors away. Noteworthy is the relationship between dollar and oil is that the medium of trade for oil is the [...]
CEOs of fastest growing private companies lose confidence in US economy by almost 2 points for 2008 second quarter»
In the second quarter of 2008 country’s fastest growing private companies CEOs confidence towards US economy fell around 2 points with an optimistic viewpoint on the economy over the subsequent twelve months as reported by survey of almost 24 percent of CEOs for PricewaterhouseCoopers’ Trendsetter Barometer. Quick quarterly drop-offs come out to have become steady [...]
Many big corporations are not paying their income tax»
Between 1998 and 2005 no federal income tax was paid by approximately two third of the nationalistic U.S. corporations, where the 68 percent of the foreign companies having business in US evaded their share of corporate tax in the same period as revealed by a survey report by Government Accountability Office on 12 August.
GAO stated [...]
Investing
Advanced Micro Devices Inc decided to sell TV-chip business for US$192.8 million to Broadcom Corp.»
Advanced Micro Devices Inc.(AMD) announced earlier in the week to sell its digital TV-chip manufacturing unit for US$192.8 million in cash to its fellow chip maker Broadcom Corp. According to AMD’s president and chief executive Dirk Meyer, company is taking this step under the plan of reducing debts and increasing profitability. In its chief market [...]
Qik attracts investment»
Qik, has pulled in investment from Netscape founders Marc Andreessen and Ben Horowitz and the also joined the company’s board. Qik is a mobile interactive live video streaming Services Company.
Andreessen is the co-founder and chairman of social networking platform Ning. He is also a member of Facebook Inc.’s board and also on the boad of [...]
Three major Investment Banks announced steps to resolve bond cases with New York State»
As part of detach agreement arrive with New York state regulators Merrill Lynch, Goldman Sachs and Deutsche Bank – known as major Investment Banks are going to buy back minimum $12.5 billion in auction-rate securities and pay $162.5 million in penalty soon. About 30 Wall Street companies, from universal banks to discount and regional [...]
Features
Stocks
Fall in European Stocks, U.S. Futures along with decline in UBS, Air France»
Investor’s speculations regarding expansion in bank losses in combination with the dimmed profit viewpoint among the airlines and carmakers because of high oil prices resulted fall in European stocks. On the other hand there is fall in U.S. index futures while Asian shares rose. Wall Street Journal saying that- the U.S. Federal Deposit Insurance Corp. [...]
Merger market showed the slowest results since August since ‘92»
The merger market slowed with the fastest speed since year 1992 in this year August. Usually in August, Wall Street investment bankers escape to the Hampton that results traditional slow in the merger market, but according to data in this year U.S. deal size is on tempo to be the slowest August since 1992. Getting [...]
Chico’s profits drop by 83%»
As results of 2nd quarter start to filter in it isn’t that great news for companies like women’s clothing retailer Chico’s Fas Inc. On Tuesday the company announced that its profit dropped by a whooping 83% in the 2nd quarter.
The company cited reasons such as customer cutting in spend and therefore lower sales. In terms [...]
Finance
Voluntary appeal for reorganization in a Delaware Federal Bankruptcy Court is filed by Cadence Innovation»
Decreased automotive production in North American market and increasing material costs effected financial condition of Cadence Innovation. As a result Cadence Innovation filed appeal for reorganization in a Delaware Federal Bankruptcy Court under Chapter 11 of the U.S. Bankruptcy Code on its own.
US automotive industry is facing hard time due to uncertain economy and the [...]
House Price decline eases in the US.»
The down slope of house prices in United States finally appears to be slowing down. It is the biggest fall in 25 years.
House prices are down 15.9% compared with last year, which is less than what economic forecasts showed.
David Blitzer, Chairman of the Index Committee at Standard & Poor said “While there is no [...]
Fragile finance industry jeopardize US High-Grade Bond Market»
Between the continuous concerns regarding more destitution in front, US investment-grade corporate bond market focused continually on financial institutions situation on Tuesday. Along with this, vital investment-grade derivatives index pushed by the swiftly soaring producer prices and weak housing data which indicated that around in a month the market sentiments are on its extensive top.
Fannie [...]
News
Advantage Capital announced a $1.9 million investment in Natural Cleaners Colorado LLC»Foremost venture capital and small business finance firm Advantage Capital Partners declared the investment in Natural Cleaners Colorado LLC of $1.9 million.
Two new natural cleaning operations in Grand Junction and Steamboat will be formed by utilizing the Advantage Capital’s investment which is made in concern with Colorado’s Certified Capital Company (CAPCO) program. There will be [...]
Zoomerang Survey released the results of its August 2008 consumer study that was conducted with a view to see the effect of deteriorating economy on the parents and students both that are getting ready for back-to-school. Zoomerang is a foremost online survey. The online survey included more than 200 respondents in the U.S. which established [...]
Smithfield faced losses in the first quarter»According to Smithfield in the first quarter it lost $12.6 million, or 9 cents a share as an effect of hedging losses on feed-grain and live hog deals and asset disposals from a joint venture in Spain, while in last year $54.6 million, or 41 cents a share was earned by the pork producer. According [...]
