Reuters - India’s Sterlite Industries
on Saturday agreed to buy the operating assets
of bankrupt copper miner Asarco for $2.6 billion, the latest in
the series of overseas acquisitions by Indian firms.
Reuters - U.S. Treasury Secretary Henry Paulson
said on Saturday the dollar peg for currencies in the Gulf Arab
countries had served the region well and any changes to the peg
would be a sovereign matter.
Reuters - JPMorgan Chase & Co said on
Saturday it completed its $1.4 billion Bear Stearns Cos
takeover, capping the demise of a Wall Street firm that
survived the Depression and numerous slumps in its 85 years but
could not navigate the mortgage crisis.
Reuters - The U.S. commodity markets’ chief
regulator will unveil policy changes next week meant to address
public and political concerns that market malfunctions may be
contributing to rising food and energy prices, The New York
Times reported on Saturday.
Reuters - India’s Sterlite Industries
on Saturday agreed to buy the operating assets
of bankrupt copper miner Asarco for $2.6 billion, the latest in
the series of overseas acquisitions by Indian firms.
AP - The first round of economic stimulus checks gave a boost to personal incomes in April but a huge question remains: Will people spend the checks quickly enough to keep the economy afloat?
AP - The first round of economic stimulus checks gave a boost to personal incomes in April but a huge question remains: Will people spend the checks quickly enough to keep the economy afloat?
Reuters - U.S. technology shares rose on Friday
as strong results from computer maker Dell Inc
signaled that business and consumer spending was holding up,
driving the Nasdaq to end the month up 4.6 percent.
Reuters - U.S. consumer confidence fell to a
28-year low in May, a survey showed on Friday, as soaring
prices for food and fuel soured sentiment and pushed long-term
inflation expectations to the highest in more than a decade.
AFP - German retail sales released Friday posted a surprise monthly fall in April, adding to evidence that rising prices are keeping consumers away from the shops.
Reuters - Former Federal Reserve Chairman Alan
Greenspan said on Friday that he does not expect another
“bubble” in world markets for a long time, and that central
banks at any rate do not control the long-term interest rates
that can be related to bubbles.
Reuters - UAL Corp’s United Airlines and
US Airways Group said on Friday they would not merge, a
decision that experts said effectively kills the chances of
further U.S. airline consolidation this year.
Reuters - Billionaire investor Kirk Kerkorian on
Friday said he would move ahead with a tender offer for Ford
Motor Co shares, signaling a bigger bet on the
automaker’s turnaround despite the recent slump in its stock
and lowered financial outlook.
Investor’s Business Daily - Treasury Sec’y Henry Paulson backs the stronger scrutiny of gov’t-sponsored enterprises Fannie Mae and Freddie Mac in a housing bill before the Senate. But he had concerns about mortgage guarantees. “Some parts of the legislation are modestly helpful and others are not helpful,” Paulson said. “It’s a big part of my job to work to get the strongest possible housing bill on the president’s desk so he can sign it.”
AP - The first round of economic stimulus checks gave a boost to personal incomes in April but a huge question remains: Will people spend the checks quickly enough to keep the economy afloat?