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Asian markets fall as investors refocus on economy
AP - Asian stock markets tumbled Thursday, following Wall Street lower as U.S. presidential election euphoria gave way to fears of a deep and protracted recession in the world's largest economy.
Philippine stock index sinks 3.2 percent
AP - Philippine shares sank Thursday, tracking a drop on Wall Street and on markets around the region, as investors worried about how U.S. President-elect Barack Obama will address the country's economic woes.
Toyota reports plunge in quarterly profit
AP - Toyota says its second quarter profit shrank to about a third of what it was the previous year as a drastic slowdown in auto sales and surging yen hammered earnings at Japan's top automaker.
Agricultural Bank of China receives 19-billion-dollar bailout
AFP - Agricultural Bank of China said it signed an agreement Thursday for a 19-billion-dollar government cash injection as it took a decisive step in its preparations for an eventual stock listing.
Chinese stocks resume slide amid regional slump
AP - Chinese shares resumed their slide Thursday as regional markets followed declines overnight on Wall Street. Miners and financials led the drop.
Stocks plunge 2.62% when trading begins
AFP - The London stock market slumped by 2.62 percent to 4,412.22 points on the FTSE 100 index when trading began on Thursday in the wake of sharp falls for share prices in New York and across Asia.
SKorean stocks fall sharply amid recession fears
AP - South Korea's benchmark stock index plummeted Thursday, snapping a five session wining streak after renewed recession fears triggered a sell-off on Wall Street. The won tumbled nearly 5 percent.
Australia's stock market falls on Wall Street loss
AP - Australia's stock market closed more than 4 percent lower Thursday after post-election jitters about the U.S. economy sent Wall Street into a nosedive.
InBev 3Q profit down nearly 14 pct as costs soar
AP - Brewer InBev SA on Thursday posted a nearly 14-percent drop in third-quarter profit as the cost of making and packaging beer soared.
Adidas' 3Q net up 2 percent but pulls '09 guidance
AP - Adidas AG, the world's No. 2 athletic gear and apparel maker, said Thursday its third-quarter profit rose 2 percent on higher sales and confirmed its outlook for the rest of the year. But uncertainty led it to pull its guidance for 2009, the company said.
Toyota slashes annual earnings forecast
AP - Toyota slashed its earnings forecast for the full year Thursday to less than a third of what it was the previous year, the latest sign that the global slowdown and strong yen are taking a toll on Japan's mighty automakers.
Gulf stocks down on global recession fears
AFP - Stock markets in the oil-rich Gulf region traded lower on Thursday as they followed global markets which plunged on fears of a deep global recession.
Belgium's KBC bank swings to 3Q loss on writedowns
AP - Belgium's KBC bank on Thursday said it swung to a loss of 906 million euros (US$1.16 billion) in the third quarter after it wrote off 1.4 billion euros (US$1.8 billion) from the value of complex financial investments.
Insurer Aegon reports 329 million loss in Q3
AP - Insurer Aegon NV on Thursday said it swung to a net loss of 329 million euros ($425 million) in the third quarter, blaming write-offs and losses on investments resulting from the global financial crisis.
Randstad reports 20 percent fall in 3Q net profit
AP - Dutch staffing company Randstad NV said Thursday third quarter profit fell 20 percent as fewer companies hired temps in the face of an economic downturn.
Alstom net profit up 36 percent in first half
AP - Alstom SA, the French transport and heavy engineering firm, said its net profit rose 36 percent in the first half of the year thanks to higher margins from building and servicing power plants.
Stocks head for lower open as economic woes mount
AP - Wall Street recoiled again Thursday, sending stock futures sharply lower ahead of the market's open as investors braced for data on retail sales and jobless claims that are likely to add to evidence that the economy is in a deep recession.
HK stocks off 7 pct on fresh economy, profit fears
AP - Hong Kong's main stock index dropped more than 7 percent Thursday as investors shifted focus from the U.S. presidential election back to the slumping world economy and company earnings.
Deutsche Telekom sees 3Q profit soar
AP - Deutsche Telekom AG reported a strong rise in third-quarter net profit on Thursday, buoyed by lower taxes and a cost-cutting program.
OfficeMax swings to 3rd-quarter loss
AP - Office supply chain OfficeMax says it swung to a third-quarter loss because of a larger-than-expected charge tied to the bankruptcy of Lehman Brothers.
Henkel 3rd quarter profit down 58 pct
AP - Household products maker Henkel KGaA said Thursday its third-quarter profit declined 58 percent as the company booked restructuring charges and faced increases in raw material prices.
Norske Skog swings to 3Q net loss
AP - Norske Skog, a global newsprint maker based in Norway, said Thursday it swung to a net loss in the third quarter as exchange rate shifts slashed value off the sale of two South Korean plants.
FTSE 100 down 168.96 at 4,361.77
AP - Share prices on the London Stock Exchange were lower at midday Thursday.
OfficeMax posts loss on Lehman note
Reuters - OfficeMax Inc reported a large quarterly loss on Thursday due to a charge from a note backed by failed investment bank Lehman Brothers, but the office supplies retailer beat Wall Street expectations.
World stocks plunge as recession fears bite
AFP - Global stock markets tumbled for a second day running on Thursday as investors shrugged off Barack Obama's election as US president to focus on growing recession fears, traders said.
Yahoo up after CEO says Microsoft best option
Reuters - Shares of Yahoo Inc rose 5.7 percent to $14.72 before the bell on Thursday after the company's CEO said a deal with Microsoft remained its best option.
Blackstone 3Q loss widens due to financial crisis
AP - Blackstone Group LP, one of the world's largest private-equity funds, reports a steep third-quarter loss as the financial crisis lowered the value of its investments.
Anheuser-Busch 3Q profit hurt by InBev sale charge
AP - Anheuser-Busch says its third-quarter profit fell 5.7 percent due to charges for its pending sale to InBev SA, but sales rose in the quarter and the nation's largest brewer gained market share.
Wendy's swings to 3Q loss on takeover costs
AP - Wendy's swung to a third-quarter loss due to costs related to its takeover by the owner of the Arby's chain.
Dana to cut more jobs, close plants as loss widens
AP - Dana Holding Corp. said Thursday it will close up to 10 plants and cut 2,000 more employees than originally planned as the auto parts maker's net loss widened in the third quarter.
AutoNation swings to $1.41 billion 3Q loss
AP - AutoNation Inc. said Thursday it swung to a loss in the third quarter, with customers finding it increasingly difficult to get a car loan and the overall economy heading south.
Constellation operating earnings tumble
Reuters - Constellation Energy on Thursday said third-quarter operating profit tumbled due to poor results from its merchant business, which was hit by poor results from its energy trading business.
Stocks dive more than 5%
AFP - The London FTSE 100 index of leading shares was down 5.25 percent at 4,292.73 points in late trade on Thursday, as a huge cut in interest rates led investors to believe that Britain was set for a deep recession.
Wendy's, Arby's swing to 3Q losses
AP - Wendy's/Arby's Group Inc., formed after the owner of Arby's bought Wendy's, said Thursday that both chains swung to losses in the third quarter as sales slowed and costs associated with the acquisition ate into profits.
OfficeMax posts 3Q loss on charge, sales drop
AP - OfficeMax Inc. said Thursday it lost more than $400 million in the third quarter because of a large charge tied to the bankruptcy of Lehman Brothers and economic weakness that crimped demand for office supplies.
London FTSE slumps on rates cuts
AFP - The FTSE 100 Index slumped for a second consecutive day Thursday as investors viewed interest rate cuts by the Bank of England and European Central Bank as a sign the regional economy is in a far worse state than originally thought.
Blackstone posts loss, shares slide
Reuters - Private-equity company Blackstone Group LP reported a wide third-quarter loss on Thursday and said it had cut the value of a number of the companies in its portfolio as equity markets tumbled.
Cablevision posts 3Q profit after loss a year ago
AP - Cablevision Systems Corp. said Thursday it earned $27.1 million in the third quarter as strong gains in its cable service, programming and Madison Square Garden businesses buoyed results after a loss a year ago. It also said it had suspended plans to sell or spin off assets. Its shares dropped 11 percent.
Charter Communications 3Q loss narrows
AP - Charter Communications, one of the nation's biggest cable television system operators, on Thursday reported a narrower third-quarter loss compared with a year earlier, helped by gains in phone and high-speed Internet revenue as well as cable TV price increases.
World stocks tumble on recession fears
AP - World stock markets slumped Thursday after interest rate cuts across Europe, including a much bigger than anticipated reduction from the Bank of England, were not enough to keep investors from fretting about the outlook for the global economy.
World stocks plunge on rising recession fears
AFP - Global stock markets plunged Thursday on growing fears of a deep recession as the financial crisis saps growth and dangerously weakens the banking system.
Wall Street slides amid global rout
AFP - US stocks were hammered for a second day in a row Thursday as global markets plunged on fears of a deep worldwide recession.
Qualcomm 4Q profit falls 22 pct, but revenue soars
AP - Qualcomm Inc. reports a 22 percent decline in fiscal fourth-quarter profits even though a license agreement with rival wireless equipment maker Nokia Corp. helped boost revenue 45 percent.
A look at Anheuser-Busch's 3Q business
AP - Here's a look at how Anheuser-Busch Cos. Inc.'s key segments performed in the third quarter:
Disney's 4Q net income falls 13 percent
AP - The Walt Disney Co., the family entertainment company that owns ESPN and ABC, says fourth-quarter net income fell 13 percent as higher costs offset a gain in revenues.
InVentiv Health shares soar on 3Q profit results
AP - Shares of inVentiv Health Inc., which provides services for the pharmaceutical and life sciences industries, surged Thursday after the company topped Wall Street's third-quarter profit forecasts.
Japan shares fall sharply in early trade
AP - Japan's benchmark stock index fell sharply in early trade Friday in its second straight day of losses since the U.S. election.
VeriSign quarterly earnings beat estimates
Reuters - U.S. internet security provider VeriSign Inc reported a quarterly profit that beat Wall Street expectations on the strength at its core businesses and said it was on track to meet its full-year forecast.
Japan Airlines' quarterly profit rises
AP - Japan Airlines Corp. said profits climbed in the July-September quarter even as its business performance worsened, as it booked higher special profits and lower extraordinary expenses for the period.
Singapore Airlines profit drops on fuel costs
AP - Singapore Airlines Ltd. said its July-September profit fell 36 percent as fuel costs boosted expenditures. The airline warned passenger demand may drop next year.
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