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Asia stocks sink as layoffs add to global gloom
AP - Asian stock markets sank Tuesday after Wall Street retreated and global financial firms announced another round of massive layoffs, adding to gloom about the world economy.
Shares steady when trading begins
AFP - London's FTSE 100 index of leading shares edged ahead by 0.04 percent to 4,133.98 points when trading began on Tuesday, as investors awaited official data expected to show the first drop in inflation for more than a year.
Japan stocks fall as layoffs hammer bank shares
AP - Japanese stocks retreated Tuesday amid broad regional declines as investors grappled with more bad news about the global economy, including a massive round of layoffs in the financial sector.
Philippine stock index tumbles 3.4 percent
AP - Philippine shares tumbled for a second straight session Tuesday as investors took their cue from losses in the U.S. and Asian markets.
Mitsubishi UFJ first-half profit dives 64 percent
AP - Mitsubishi UFJ Financial Group Inc. , Japan's largest bank, said first-half net profit plunged 64 percent, hit by higher credit costs and losses on its shareholdings.
Hong Kong index falls 4.5 pct as bank shares hit
AP - Hong Kong's main stock index tumbled 4.5 percent Tuesday as another wave of bank layoffs spurred selling in financial shares.
China stocks tumble on profit-taking
AP - Chinese shares fell sharply Tuesday on profit-taking and worries about a slowing economy after advancing for four trading days.
Burberry 1H net rises, shares fall on outlook
AP - British luxury goods company Burberry Group PLC on Tuesday reported a 13 percent rise in first half net profit, but its shares plummeted as it added that second-half business was proving more difficult, particularly in the United States.
British Energy posts 2Q loss, but outlook positive
AP - British Energy Group PLC, the nuclear power producer being taken over by Electricite de France SA, on Tuesday posted a second-quarter loss after the company suffered from power station shutdowns.
Lonmin's profit up 45 pct, but cutbacks to come
AP - Lonmin PLC, the world's third largest platinum producer, said Tuesday annual net profit rose 45 percent on high sales prices, but warned it would have to cut some production and jobs because platinum's market value has plummeted since its midyear high.
FTSE-100 down 65.05 at 4,067.11
AP - Share prices on the London Stock Exchange were lower at midday Tuesday.
Banks lead European markets down
AP - European stock markets fell Tuesday following Asian losses amid further gloom about the state of the world economy and the banking system's prospects in particular.
Stock futures fall ahead of automakers' testimony
AP - Wall Street appeared ready to retreat again Tuesday, as stock futures sank amid nervousness about the fate of Detroit's Big Three auto makers.
easyJet board row escalates as earnings fall
AP - A row on the board of budget airline easyJet PLC escalated Tuesday when founder and non-executive director Stelios Haji-Iannou refused to approve the carrier's annual accounts as it posted a 45 percent drop in full-year earnings.
Medtronic 2Q profit sinks on hefty legal charge
AP - Medical device maker Medtronic says its fiscal 2009 second-quarter profit fell, mainly on legal charges for a patent dispute with Johnson & Johnson.
Home Depot 3Q profit falls 31 percent
AP - Home Depot says its third quarter profit sank 31 percent on slow sales at established locations as consumers continued to cut back on spending.
Wall Street little changed amid weak economic data
AP - Wall Street has opened mostly flat, with investors refraining from making bets in a volatile market battered by a stream of weak economic data.
Brazil stocks down early
AP - Brazil's stocks are off in early trading, with the Ibovespa stock index falling 2.2 percent to 34,936.
Banks lead world markets lower
AP - World stock markets fell Tuesday ahead of expected further losses on Wall Street amid gloom about propects for the world economy and the banking system.
Home Depot profit falls, but beats Wall St. view
Reuters - Home Depot Inc reported a higher-than-expected quarterly profit on Tuesday as it held down costs in the face of lower sales and a weak economy, sending its shares up 3 percent.
Carphone Warehouse 1H profits up, but outlook weak
AP - Carphone Warehouse Group PLC's reported Tuesday a jump in first-half net profit on a one-time gain on asset sales. But shares plunged over 17 percent as the company gave a gloomy forecast and said it might split its profitable landline telephone and broadband business from its retail operations.
ArvinMeritor posts quarterly loss
Reuters - Car and truck parts maker ArvinMeritor Inc posted a quarterly loss on Tuesday, weighed down by hefty tax charges, and said it expected to sell its car parts business in 2009.
Wall Street makes hesitant advance
AP - Wall Street made a hesitant advance Tuesday, with investors refraining from making big bets in a volatile market battered by a stream of weak economic data.
World markets lower, losses trimmed after US open
AP - World stock markets fell Tuesday on recession fears, though European shares regained some of the lost ground after Wall Street posted a better than anticipated performance after the opening bell.
Corning CEO to withdraw 4Q, 2009 earnings outlook
AP - Shares of Corning Inc. tumbled 12 percent Tuesday after the specialty glass maker lowered its fourth-quarter sales and profit guidance to reflect slumping demand for glass used in flat-screen televisions and computers.
Wall Street fluctuates on weak economic data
AP - Wall Street fluctuated Tuesday, as investors refrained from making big bets in a volatile market battered by a stream of weak economic data.
FTSE 100 rebounds from early lows
AFP - The leading share index bounced back on Tuesday as it mirrored strong gains on Wall Street to help it recover from early lows.
FTSE-100 up 76.39 points at 4,208.55
AP - Share prices on the London Stock Exchange closed higher Tuesday.
Stock markets rise on Hewlett-Packard news
AP - European and U.S. stocks rose Tuesday after computer maker Hewlett-Packard Co. said it is weathering the economic slowdown better than anticipated. Asian markets closed lower overnight.
easyJet board dispute escalates as earnings fall
AP - A dispute on the board of budget airline easyJet PLC escalated Tuesday when founder and non-executive director Stelios Haji-Iannou refused to approve the carrier's annual accounts as it posted a 45 percent drop in full-year earnings.
Wall Street pulls back amid economic uncertainty
AP - Wall Street retreated in another turbulent session Tuesday, as investors refrained from making big bets in a volatile market battered by a stream of weak economic data. The Dow Jones industrials dropped more than 130 points.
Boeing shares fall to 5-year low on earnings worries
Reuters - Boeing Co shares tumbled 6 percent to a near five-year low on Tuesday as Wall Street analysts expressed concerns about the plane maker and defense contractor meeting profit estimates over the next two years, as airlines struggle to get financing to buy the company's planes and the new U.S. administration threatens defense spending cuts.
Corning lowers 4Q profit outlook
AP - Shares of Corning Inc. tumbled 17 percent to a five-year low Tuesday after the specialty glass maker lowered its fourth-quarter sales and profit guidance to reflect slumping demand for glass used in flat-screen televisions and computers.
Wall Street pulls off final-hour rebound
AP - Wall Street rebounded Tuesday in another turbulent session, as investors rushed back into the market after the Standard & Poor's 500 index tested a 2003 low.
SEC accuses 4 of inflating bank's portfolio
AP - Federal regulators on Tuesday accused four people of inflating the value of Bank of Montreal's trading portfolio to falsely enhance its financial results. One of the four pleaded guilty to related criminal charges and agreed to a civil settlement with the Securities and Exchange Commission.
How home improvement chains fared in 3rd quarter
AP - The Home Depot Inc. and its competitor Lowe's Cos. Inc. both reported better-than-expected third quarter results this week. Here's a summary of how the nation's two largest home improvement chains performed.
US, European stocks get boost from Hewlett-Packard
AP - Stock markets in Europe and the United States got a boost Tuesday from Hewlett-Packard Co. saying it is weathering the economic slowdown better than anticipated.
U.S. regulators face fight on IFRS accounting cost
Reuters - Just four days after releasing a formal 'roadmap' proposal to move U.S. companies to international accounting rules, U.S. regulators are facing a slew of complaints about the millions of dollars it would cost companies to make the switch.
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