By Scott Lanman
July 29 (Bloomberg) — The Federal Reserve said most of its 12 regional banks detected a slower pace of economic decline in June and July, further signs the worst U.S. downturn in at least five decades is closer to an end.
“Economic activity continued to be weak” in June and July, the Fed said… »
Oil dropped nearly 6 percent on Wednesday after data showed a surge in U.S. crude inventories on higher imports and lower refinery activity.
Crude stocks in the world’s top consumer jumped 5.1 million barrels in the week to July 24, according to data from the U.S. Energy Information Administration, countering analyst expectations for an inventory draw…. »
Johannesburg, July 29 (I-Net Bridge) - South African markets were mixed Wednesday with bonds ending firmer, the rand little changed, but the JSE and futures lower on weaker US equity markets.
The main focus of attention today on the data front was better than expected consumer inflation data and money supply and PSCE data.
South Africa’s consumer… »
Britons reaching for chocolate to cheer them up in the downturn helped Cadbury to triple its net profit and raise its forecast for the year.
Profits at the group, whose products include Halls sweets and Trident gum, jumped from £113 million in the first six months of last year to £313 million on revenues up 4… »
SAN FRANCISCO, July 29 (Reuters) - The following is a
timeline of key events in Microsoft Corp’s (MSFT.O) pursuit of
Yahoo Inc (YHOO.O), stretching back more than two years, after
the Web pioneer’s financial results began weakening.
Early 2006 - Yahoo begins to report a string of weak
quarterly results, reflecting competitive missteps by the
company, market share gains… »
July 29 (Bloomberg) — About $2.2 trillion of U.S. commercial properties bought or refinanced since 2004 are now worth less than the original price, raising the threat of more foreclosures, Real Capital Analytics said.
Prices have fallen so far that about $1.3 trillion of properties have either lost their owners’ down payment or are close… »
July 29 (Bloomberg) — U.S. stocks fell for a second day as plunging Chinese shares and commodities stoked speculation that the surge in equities has outpaced a rebound in the economy.
Alcoa Inc., the largest U.S. aluminum producer, and Exxon Mobil Corp. declined as copper dropped 2.5 percent and oil slumped the most in three months…. »
ResultsCast chats to the CEO of this country’s dominant steel player about a period that has seen it lose R844m at the headline level. More important though, what are the propects for the… »
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