Global financial news, market analysis, economics and forex news

Dixons Retail Annual Sales Climb While Charges Hurt Results

Thu, 20 Jun 2013 07:58:42 GMT - Electricals retailer Dixons Retail Plc. (DXNS.L) Thursday reported lower pre-tax profit for the year, particularly due to restructuring and impairment charges. However, underlying profit before tax was strong, with good growth in sales especially in the UK and Ireland. The company expects a good year ahead.

European Stocks To Join Global Selloff On Stimulus Worries

Thu, 20 Jun 2013 06:08:02 GMT - European stocks are set to follow Asian stocks sharply lower on Thursday after the U.S. Federal Reserve signaled it is moving closer to slowing the pace of bond purchases later this year as long as the economy sustained its improvement.

HPV Prevalence Drops By More Than Half In Teen Girls, Says CDC

Thu, 20 Jun 2013 06:03:14 GMT - Human papillomavirus, or HPV, is one of the most common causes of sexually transmitted infection, which can lead to serious health problems including cancer in both women and men. About 79 million Americans are infected with HPV, and about 14 million Americans become newly infected every year, according to reports.

China Manufacturing Contraction Deepens In June

Thu, 20 Jun 2013 05:41:24 GMT - China's manufacturing activity contracted at a faster pace in June, reducing the prospects of a promising economic recovery, preliminary results of a survey by Markit Economics and HSBC revealed Thursday. The flash manufacturing purchasing managers' index fell to 48.3 in June from 49.2 in May. The index is now at its lowest level in nine months.

King Makes Last Plea For Stimulus Before Entrusting BoE To Carney's 'Safe Hands'

Thu, 20 Jun 2013 04:15:44 GMT - Bank of England Governor Mervyn King made a last but strong call for expanding stimulus for the British economy in his final Mansion House speech on Wednesday even as he left some "unfinished business" in the banking sector for the next chief Mark Carney to complete. King will step down by end-June after ten years at the helm. Carney will assume office from July 1.

Laughing Gas Sedation Not Linked To Heart Attacks: Study

Thu, 20 Jun 2013 01:57:56 GMT - Nitrous oxide, commonly known as laughing gas, is a widely used inhalation anesthetic agent in the United States. In recent years, questions have been raised concerning its safety - with some studies suggesting that the nitrous oxide anesthesia may raise the risk of a heart attack during and after surgery. But a new study suggests that the nitrous oxide sedation fears may be unfounded.

Jabil Circuit Profit Down, Sees Q4 Earnings Below Street

Wed, 19 Jun 2013 20:59:03 GMT - Contract manufacturer Jabil Circuit Inc. (JBL), Wednesday said its profit for the third quarter declined as restructuring charges and higher manufacturing costs offset revenue growth. Nonetheless, both earnings and revenues for the quarter came in ahead of Wall Street estimates.

Red Hat Results Edge Past Estimates

Wed, 19 Jun 2013 20:46:49 GMT - Red Hat Inc., the world's largest seller of Linux software, said Wednesday after the markets closed that its first quarter profit rose 8% from last year, as revenue increased 15% amid strong consumer demand. The company's quarterly earnings per share, excluding items, also came in above analysts' expectations as did its quarterly revenue.

Negative Reaction To Fed Leads To Sell-Off On Wall Street - U.S. Commentary

Wed, 19 Jun 2013 20:22:17 GMT - After moving mostly higher over the course of the two previous sessions, stocks pulled back sharply during trading on Wednesday. A negative reaction to the Federal Reserve's monetary policy announcement weighed on the markets in afternoon trading. The major averages saw some volatility following the announcement from the Fed, closing firmly in the red.

Crude Oil Ends Lower On Supply Data

Wed, 19 Jun 2013 18:58:19 GMT - U.S. crude oil settled lower Wednesday, after the Energy Information Administration's weekly oil report showed a better-than-expected increase in U.S. crude stockpiles last week. The decline in prices comes despite some upbeat economic outlook from Federal Reserve with the central bank announcing the continuation of its quantitative easing program unchanged.

Alaska Sen. Murkowski Announces Support For Same-Sex Marriage

Wed, 19 Jun 2013 18:35:28 GMT - Alaska Senator Lisa Murkowski, R-Ak., announced her support for same-sex marriage on Wednesday, becoming the third Republican Senator to do so. "I am a life-long Republican because I believe in promoting freedom and limiting the reach of government," Murkowski wrote in an op-ed piece. "When government does act, I believe it should encourage family values."

Gold Ends Higher Ahead Of Fed Meet Outcome

Wed, 19 Jun 2013 17:59:28 GMT - Gold futures settled higher Wednesday, rebounding from a near four-week low yesterday, even as investor anxiety persisted over the the outcome of the two-day U.S. Federal Reserve's policy meet. With no major macroeconomic data available today, there were little catalysts to provide fresh direction for gold. Nevertheless, the precious metal found some support with the dollar weakening against a basket of major currencies.

Modest Weakness Remains Visible On Wall Street As Fed Looms - U.S. Commentary

Wed, 19 Jun 2013 16:12:39 GMT - While selling pressure has remained subdued, stocks continue to see modest weakness in mid-day trading on Wednesday. The losses on the day are partly offsetting the gains posted over the course of the two previous sessions. The major averages have moved to the downside in recent trading, with the Nasdaq hitting a new low for the session.

CBO Finds Senate Immigration Bill Would Reduce Budget Deficit

Wed, 19 Jun 2013 15:24:48 GMT - Providing a potential boost to comprehensive immigration reform, the non-partisan Congressional Budget Office has estimated that the immigration bill currently being debated in the Senate would result in a notable reduction to the federal budget deficit.

Stocks Seeing Modest Weakness In Early Trading - U.S. Commentary

Wed, 19 Jun 2013 14:04:22 GMT - Stocks have moved modestly lower in early trading on Wednesday, giving back some ground after closing higher in the two previous sessions. The major averages have dipped into negative territory, although selling pressure remains subdued. The major averages have edged up off their lows for the young session in the past few minutes but remain in the red.

FedEx Delivers Strong Q4 Earnings, Tops Expectations

Wed, 19 Jun 2013 13:08:04 GMT - Package delivery giant FedEx Corp. on Wednesday reported fourth-quarter earnings that beat market expectations, as improved results from its ground shipping business helped offset restructuring costs. Revenues matched Wall Street forecasts. FedEx also issued initial earnings growth guidance for the full-year 2013.

Stocks May Open Roughly Flat Ahead Of Fed Announcement - U.S. Commentary

Wed, 19 Jun 2013 12:56:24 GMT - With traders looking ahead to the Federal Reserve's highly anticipated monetary policy announcement, stocks may show a lack of direction in early trading on Wednesday. The major index futures are currently pointing to a roughly flat open for the markets.

Angelina Jolie Listens To Tragic Stories Of Syrians Fleeing Conflict

Wed, 19 Jun 2013 12:43:59 GMT - Along a dirt track on an unexpectedly cool and windy night on Jordan's border with Syria, as shadows lengthened across the barren hills, UNHCR Special Envoy Angelina Jolie listened to the stories of men, women and children who had fled Syria just hours before. She heard stories of bombs and pain and loss from people fleeing Homs, Dara'a and Qusair, three of the communities devastated by the Sy

King Loses Final Call For QE

Wed, 19 Jun 2013 11:24:28 GMT - Outgoing Bank of England Governor Mervyn King was outvoted in his final policy meeting, as most policymakers overturned his call for additional stimulus citing sustained economic recovery, the minutes of the session held on June 5 and 6 showed Wednesday. As seen in the past few months, King, Paul Fisher and David Miles sought an increase in quantitative easing by GBP 25 billion.

Cassini Spacecraft To Take Earth's Photo From Deep Space

Wed, 19 Jun 2013 10:44:16 GMT - NASA's Cassini spacecraft, now exploring Saturn, will take a picture of Earth from a distance of hundreds of millions of miles on July 19. NASA is inviting the public to help acknowledge the historic interplanetary portrait as it is being taken. Earth will appear as a small, pale blue dot between the rings of Saturn in the image, which will be part of a mosaic, or multi-image portrait, of the

Wall Street Stays Apprehensive Ahead Of Fed Decision

Wed, 19 Jun 2013 10:36:52 GMT - Sentiment on Wall Street remains wary on Wednesday, although trading in the major index futures point to a higher open. The catalyst that could define the day's market direction is the Federal Open Market Committee announcement and the ensuing press conference by Chairman Ben Bernanke. Indications from Bernanke that the trimming is something that would happen as the economy steps into a firmer footing could dispel some fears lurking in the minds of traders. That said, the markets have traded up in anticipation of such an outcome and therefore it remains to be seen how much of an impact even a positive announcement can have.

Asian Stocks Fall On Uncertainty Over Fed Policy

Wed, 19 Jun 2013 08:50:03 GMT - Asian stocks fell broadly on Wednesday as investors adopted a cautious stance ahead of the outcome of the two-day policy meeting of the U.S. Federal Reserve. With Fed Chairman Ben Bernanke scheduled to hold a press conference shortly after the meeting, investors wait to hear what he has to say about possible tapering of bond purchases and the future course of Fed policy.

H&M Q2 Profit Falls Amid Stronger Krona, Bad Weather

Wed, 19 Jun 2013 07:08:11 GMT - Swedish apparel retailer Hennes & Mauritz (HNNMY.PK, HMRZF.PK, HEN.L) Wednesday said profit in the second quarter declined from the prior year, hurt by negative currency impact and unfavourable weather.

Alcatel-Lucent Unveils Shift Plan, To Save 1 Bln Euros

Wed, 19 Jun 2013 07:03:21 GMT - Alcatel-Lucent (ALU) Wednesday announced a three-year plan called 'The Shift Plan', aimed at repositioning the company as a specialist provider of IP Networking and Ultra-Broadband Access. The plan targets 1 billion euros in fixed cost savings and asset sales of more than 1 billion euros over 2013-2015. Alcatel also said once the plan is underway, its Finance Chief Paul Tufano would step down.

European Stocks Seen Opening Flat Before Fed Decision

Wed, 19 Jun 2013 06:16:16 GMT - European stocks are seen opening largely unchanged on Wednesday, with trading activity likely to remain somewhat subdued amid caution ahead of Fed's policy decision and Chairman Ben Bernanke's accompanying press conference later today.

Australia Leading Index Suggests Above-Trend Growth

Wed, 19 Jun 2013 05:10:29 GMT - A leading indicator of Australian economic activity continued to signal above-trend growth for the economy in the coming quarters, a report from Westpac and Melbourne Institute showed Wednesday. The annualized growth rate of the leading index, which indicates the likely pace of economic activity three to nine months into the future, was 5.4 percent in April, comfortably above its long term trend.

Dish Says Impracticable To Submit Revised Offer For Sprint Before Deadline

Wed, 19 Jun 2013 00:42:44 GMT - Satellite TV provider Dish Network Corp. said Tuesday that it would not be able to submit a revised offer for Sprint Nextel Corp. by the Tuesday deadline set by the wireless carrier.

Adobe Profit Tops Estimate

Tue, 18 Jun 2013 21:07:00 GMT - Publishing and design software maker Adobe Systems Inc. said Tuesday after the markets closed that its second quarter profit fell 66% from last year, hurt by lower revenue as well as higher costs and expenses. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations and its quarterly revenue was in line with analysts' forecast.

Stocks Show Strong Upward Move Ahead Of Fed Announcement - U.S. Commentary

Tue, 18 Jun 2013 20:21:36 GMT - Stocks showed a strong upward move over the course of the trading day on Tuesday, adding to the gains posted in the previous session. The rally came even as traders expressed some uncertainty ahead of tomorrow's Federal Reserve announcement. The major averages gave back some ground going into the close but remained firmly in positive territory.

Crude Oil Ends Above $98 Ahead Of Inventories Data

Tue, 18 Jun 2013 19:01:58 GMT - U.S. crude oil settled higher Tuesday, ahead of the weekly crude oil inventories report and on supply concerns stemming from the geopolitical tensions in the Middle East as violence continued unabated in Syria. Investors also viewed the possible outcome of the two-day U.S. Federal Reserve policy meet with anxiety, on speculations whether or not the central bank would go ahead with plans to taper its quantitative easing program.