Archive for June 24th, 2009

HONG KONG – Even though the U.S. Federal Reserve overnight concluded its two-day interest rate meeting with a cautious tone, Asian stocks surged across the board on Thursday. Japanese manufacturers climbed on a weaker yen and overseas expansion, while Australian investors were happy to see the International Monetary Fund has revised up its economic forecast… »

ConAgra Foods is preparing to report fourth-quarter earnings on Thursday morning, but analysts warn the popularity of grocery stores’ private-label brands could chew into profits. According to one stockpicker, however, the company’s lower input costs are helping it close the pricing gap. After grocery store operator Kroger announced a meaty 12.7% boost to first-quarter profits… »

You’ve tried wine from Chile, South Africa and of course France. But Brazil? The country that is famous for its beautiful beaches, long-limbed inhabitants and being one of the key BRIC nations, is not as well known for producing a good glass of red. Yet Brazil has become one of the more eagerly anticipated attendants… »

There’s another bomb hidden in the real estate market, but unlike subprime mortgages, this one will take a decade to explode. Commercial properties-offices, hotels, malls-could suffer a wave of foreclosures like the one that hit the residential market last year, says Deutsche Bank analyst Richard Parkus. As tenants struggle to make rent, delinquencies are up,… »

PARIS – Oil majors like BP, Total and ExxonMobil have waited a long time for access to Iraq’s oil reserves, following the United States-led invasion of 2003. While smaller companies raced into the semiautonomous and far more stable region of Iraqi Kurdistan to get a head start, Big Oil preferred to wait and play it… »

Credit card issuers wrote off a record portion of their loans to customers in May, citing them as uncollectible, according to Moody’s Investors Service. The charge-off rate, an annualized figure, hit 10.6%, breaking a record for the sixth consecutive month and marking the first time the Moody’s Credit Card Index has surpassed 10%. Expect the… »

LONDNO – “Cost cutting” in this recession generally brings to mind job cuts, or at a push unusual methods such as British Airways’ request that staff work a month for free. Rarely, however, does a company take it out on its customers.But, that’s a strategy being considered by iconoclastic Michael O’Leary, chief executive of Irish… »

While most sectors of the stock market have rallied sharply from their lows in March, one sector stands out: the people who manage other people’s money. Mutual fund companies such as T. Rowe Price , private equity managers such as Blackstone and index shops like State Street have all bounced by more than 35% in… »

After months of diligently tending its hostile bid for fertilizer company CF Industries Holdings, Agrium is finally seeing signs that its rival may be ripe for the picking.Shareholders of CF Industries don’t appear to agree with the company’s repeated claims that Agrium’s twice-enhanced offer doesn’t fairly value CF’s nitrogen and phosphate fertilizer business. As of… »

Could U.S. President Obama’s proposals for overhauling banking regulation pale in comparison to what’s being planned across the pond? It’s certainly a possibility after the latest comments from Adair Turner, the chairman of British banking regulator, the Financial Services AuthorityGiving evidence to Members of Parliament on the House of Commons Treasury Select Committee, he warned… »