November 25th, 2009
Tiffany & Co reported a larger-than-expected quarterly profit and raised its forecast for full-year earnings on the strength of its overseas sales and a solid start to the holiday season, sending the upscale jeweler’s shares up nearly 6 percent.
The company’s sales showed double-digit growth in Asia and a slower rate of decline for the […]
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October 30th, 2009
GMAC Financial Services is seeking a third round of bailout funds from the U.S. Treasury Department, according to a report in the Wall Street Journal.
Talks over a fresh lifeline are at an advanced stage and the U.S. government could provide an additional $2.8 billion to $5.6 billion to the lender, the report said, citing […]
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October 9th, 2009
Irish Finance Minister Brian Lenihan said the country’s biggest banks may need further money from the state even after selling real-estate loans to the government.
The proposed National Asset Management Agency will pay 54 billion euros ($79.4 billion) to buy loans with a book value of 77 billion euros from five lenders, including Bank […]
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September 19th, 2009
Britain posted the biggest budget deficit for any August since modern records began in 1993 as the recession destroyed tax revenue and welfare costs soared.
The 16.1 billion-pound ($26.3 billion) shortfall compared with a deficit of 9.9 billion pounds a year earlier, the Office for National Statistics said in London today. The median of […]
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September 18th, 2009
Treasurer Wayne Swan maintained his forecast for the nation to return to a budget surplus by 2016 even as it grapples with a surge in population and the resulting pressure on services.
Managing the rising population and the impact of climate change may be “two of our greatest economic challenges,” Swan said in e-mailed […]
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August 30th, 2009
AstraZeneca’s new pill Brilinta for preventing heart attacks works better than Plavix, the world’s second biggest selling drug, without increasing the amount of life-threatening bleeding, researchers said on Sunday.
The positive clinical trial result should ensure the blood thinner wins a slice of the Plavix market, worth $9 billion last year, and is likely to […]
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June 9th, 2009
President Dmitry Medvedev says the Russian economy will rebound faster than expected. An audience of government officials and executives meeting at the weekend mainly agreed, while demurring on the shape of the recovery.
“I expect the Russian economy, as one of these rapidly developing markets, to overcome its problems more quickly than had perhaps […]
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June 2nd, 2009
The Philippine government said it may cut its 2009 economic target and widen the budget-deficit estimate a third time this year after growth slowed to the weakest pace in a decade last quarter.
A deficit of about 250 billion pesos ($5.3 billion) or 3 percent of gross domestic product “is something that we might […]
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May 31st, 2009
Tired of quality problems at Asian factories, Fenton-based Tacony Corp. is moving the manufacture of two vacuum cleaner models to its plant in St. James, Mo.
The plant will add 20 jobs as the models are brought on line this summer. The St. James plant now employs 120 people.
Joy Petty, Tacony marketing director, […]
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May 23rd, 2009
Indian Prime Minister Manmohan Singh, who began his second term this week, may set a record for selling state assets as he revives efforts that were foiled by his former communist allies, bankers and analysts said.
The new administration could start by resuming share sale plans for NHPC Ltd., India’s largest producer of electricity […]
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