American Airlines Freezing Nonflight Hiring Because of Economy and Fuel Costs
DALLAS (AP) -- American Airlines has imposed a freeze on hiring management and support staffers as the nation's largest air carrier copes with high fuel costs and the slowing economy.
The airline will honor job offers issued before April but is postponing additional hiring indefinitely, American spokesman Andy Backover said.
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Saturday, April 5, 2008
Microsoft Gives Yahoo Deadline on Offer
Microsoft Sets a 3-Week Deadline for Yahoo to Respond to Buyout Offer of More Than $40 Billion
SEATTLE (AP) -- Microsoft set the clock ticking for Yahoo to accept its $41 billion buyout offer in a letter to the Internet pioneer's board Saturday, warning that if a deal wasn't reached by April 26 the software maker would launch a hostile takeover at a less attractive price.
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SEATTLE (AP) -- Microsoft set the clock ticking for Yahoo to accept its $41 billion buyout offer in a letter to the Internet pioneer's board Saturday, warning that if a deal wasn't reached by April 26 the software maker would launch a hostile takeover at a less attractive price.
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Weekly Recap - Week ending 04-Apr-08
Once again, there were a host of market-moving headlines in the week that just concluded. Once again, too, there was a glut of headlines pertaining to the financial sector. The stock market's overall take on things was nothing short of exuberant.
The S&P 500 rallied just over 4.0% for the week. It was a striking move on a number of levels, not the least of which was the understanding that it came on the heels of the worst quarterly performance since 2002.
The financial sector led the charge, gaining 6.6% in a news rush that was triangulated between Europe, Washington and Wall Street.
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The S&P 500 rallied just over 4.0% for the week. It was a striking move on a number of levels, not the least of which was the understanding that it came on the heels of the worst quarterly performance since 2002.
The financial sector led the charge, gaining 6.6% in a news rush that was triangulated between Europe, Washington and Wall Street.
more ...
Thursday, April 3, 2008
4th APRIL
4:20 pm : After choppy action on Thursday, the market eventually finished the day with a slight gain. A better than expected ISM services report, and reassuring comments by a major financial firm’s CEO helped offset disappointment over a worse than expected unemployment claims reading. Testimony from several officials regarding the collapse and bailout of Bear Stearns (BSC 10.72, -0.14) dominated headlines, however, the stock market had a limited reaction. Initial jobless claims for the week ended March 29 jumped to 407,000 from 369,000. Economists expected 366,000 claims. This is the highest level of claims since September 2005. However, the data falls outside of March’s jobs report, so it will not have an impact on tomorrow’s reading.
Wednesday, April 2, 2008
3rd APRIL, 2008
4:25 pm : Following Tuesday's huge rally the stock market cooled its jets on Wednesday, registering modest declines in the wake of Fed Chairman Bernanke's testimony on the economic outlook before the Joint Economic Committee.
In some wide-reaching testimony, the acknowledgment by the Fed Chairman that real GDP will not grow much, if at all, over the first half of 2008 and could even contract slightly served as a profit taking catalyst.
Tuesday, April 1, 2008
Monday, March 31, 2008
Latest Updates
4:25 pm : The stock market closed the first quarter on a winning note, but alas, today's gains weren't enough to avoid yet another month of declines. The end result is that the S&P 500 extended its losing streak to five consecutive months - the longest such losing streak since 1990.
Monday's outing was accented by a handful of developments, the most prominent of which was a proposal put forth by Treasury Secretary Paulson to enact a sweeping overhaul of the U.S. financial regulation system.
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Monday's outing was accented by a handful of developments, the most prominent of which was a proposal put forth by Treasury Secretary Paulson to enact a sweeping overhaul of the U.S. financial regulation system.
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Monday, 31st March, 2008
BOMBAY STOCK MARKET : ClosingDownward spiral...
The broader markets had a difficult time in checking the downward spiral as the large caps tumbled 4% as against around 1% in the mid cap and small cap space. Heavyweights from the software and banking sectors bore the brunt of the selling activity. As regards global markets, while the Asian indices closed in the red, the European indices are witnessing a negative trend currently.
The BSE Sensex closed at 15,644 (down 727 points) while the NSE Nifty closed at 4,735 (down 208 points). The rupee was trading at 39.98 to the dollar.
The markets began on a disappointing note on the back of inflation worries. But the worst was yet to come as the indices continued to tumble as the day progressed. Infact, the Sensex recorded its day's low towards the very end of the trading session. Both the BSE midcap index as well as the BSE smallcap index closed lower by 1%. The overall market breadth was negative with losers outnumbering the gainers by a ratio of 8:1 on the broader BSE. HDFC and Wipro (down 9% each) led the pack of losers.
L&T has won a Rs 5.8 bn turnkey project from HPCL for the construction of a 200,000 tonnes per annum lube oil base stock plant. This would enable HPCL to produce high quality Group II & III lube oils, which are higher value-added petroleum products. It intends to set up this plant as a part of its quality upgradation project. The scope of work includes residual process design, detailed engineering, procurement, supply, transportation, storage, fabrication, inspection, construction, installation, testing, mechanical completion, pre-commissioning, commissioning and performance guarantee test runs. It may be noted that L&T's engineering and construction order backlog stood at Rs 476 bn at the end of December 2007, which is 3.5 times segment sales in FY07. L&T ended lower by 4%, while BHEL closed lower by 3%.
Power Grid Corporation, the central transmission utility, has signed a loan agreement with the Asian Development Bank (ADB) for US$ 600 m, having a 25 year term. The loan will be drawn in two tranches, of which the first tranche will be of US$ 400 m. The loan will be utilised to finance the high voltage North Eastern-Northern / Western region interconnector lines, as well as the substations for the transmission capacity from Uttarakhand. It may be noted that the company has a long association with ADB and has already availed three loans amounting to US$ 925 m for its various transmission projects. Power Grid ended lower by 2%, while Tata Power closed 3% lower.
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The broader markets had a difficult time in checking the downward spiral as the large caps tumbled 4% as against around 1% in the mid cap and small cap space. Heavyweights from the software and banking sectors bore the brunt of the selling activity. As regards global markets, while the Asian indices closed in the red, the European indices are witnessing a negative trend currently.
The BSE Sensex closed at 15,644 (down 727 points) while the NSE Nifty closed at 4,735 (down 208 points). The rupee was trading at 39.98 to the dollar.
The markets began on a disappointing note on the back of inflation worries. But the worst was yet to come as the indices continued to tumble as the day progressed. Infact, the Sensex recorded its day's low towards the very end of the trading session. Both the BSE midcap index as well as the BSE smallcap index closed lower by 1%. The overall market breadth was negative with losers outnumbering the gainers by a ratio of 8:1 on the broader BSE. HDFC and Wipro (down 9% each) led the pack of losers.
L&T has won a Rs 5.8 bn turnkey project from HPCL for the construction of a 200,000 tonnes per annum lube oil base stock plant. This would enable HPCL to produce high quality Group II & III lube oils, which are higher value-added petroleum products. It intends to set up this plant as a part of its quality upgradation project. The scope of work includes residual process design, detailed engineering, procurement, supply, transportation, storage, fabrication, inspection, construction, installation, testing, mechanical completion, pre-commissioning, commissioning and performance guarantee test runs. It may be noted that L&T's engineering and construction order backlog stood at Rs 476 bn at the end of December 2007, which is 3.5 times segment sales in FY07. L&T ended lower by 4%, while BHEL closed lower by 3%.
Power Grid Corporation, the central transmission utility, has signed a loan agreement with the Asian Development Bank (ADB) for US$ 600 m, having a 25 year term. The loan will be drawn in two tranches, of which the first tranche will be of US$ 400 m. The loan will be utilised to finance the high voltage North Eastern-Northern / Western region interconnector lines, as well as the substations for the transmission capacity from Uttarakhand. It may be noted that the company has a long association with ADB and has already availed three loans amounting to US$ 925 m for its various transmission projects. Power Grid ended lower by 2%, while Tata Power closed 3% lower.
more...
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