Archive for July 24th, 2009

Has the credit crisis passed? Companies sold a record 1.79 billion in bonds worldwide in the first half of the year, according to a recent analysis by the rating agency Standard & Poor’s. Investors have clearly developed an appetite for corporate debt even while some companies, like the CIT Group, struggle under their debt burdens…. »

Rio Tinto’s relations with the small West African state of Guinea are growing tenser, highlighting the risks that miners are facing as they scour political instable environments in the search for new, lucrative assets.On Thursday, Rio finally agreed to remove equipment from an iron ore project in the country, after being threatened with having its… »

Stocks took another breather on Friday, pausing amid a broad rally that has seen the major indexes gain 11% in the last two weeks. Many U.S. companies have posted better-than-expected second-quarter earnings reports so far. The week’s final session saw drug and energy stocks rise, countered by disappointing results from tech giants like Microsoft and… »

Time Warner is hoping the magic of the movies will act as a counterweight to falling advertising revenue.Wall Street expects the company to report second-quarter earnings of 37 cents per share on Wednesday, nearly half of the 72 cents it pulled in a year ago. Since the New Year, Time Warner ‘s stock has remained… »

In lean times, people are less likely to stop and chew the fat. That’s according to UBS analyst David Palmer, who follows the fast-food industry for the Swiss investment bank. While fast-food chains have earned a reputation for giving customers more grub for their buck, the recession in the U.S. is taking a bite out… »

The U.S. economy is in transition, and the reduction of negatives expected in the second quarter, gross domestic product, will be an important guide to the rest of the year.”The consumer is still weak, making this a business-led recovery, which isn’t perfect, but we’re moving in the right direction,” said Joe LaVorgna, chief U.S. economist… »

The ambitions of German drug company Merck KGaA have been crushed. An E.U. review panel dealt a body blow to Merck’s dreams to extend the range of patients for its most promising cancer drug, following weaker-then-expected second-quarter results.Shares of Merck, which shouldn’t be confused with the U.S. company of the same name, fell 14%, or… »

Britain’s Royal Bank of Scotland and Lloyds Banking Group have buckled to the muscle of Brussels, submitting proposals to restructure their businesses. But whether it will be enough to satisfy the stringent requirements of the European Commission remains to be seen. Outlining the commission’s latest guidelines on conditions that must be met by banks receiving… »

Back in January, LM Ericsson’s ebullient chief executive, Carl-Henric Svanberg, said that the impact of the economic slowdown-all too apparent for most households and investors-had yet to be felt at the network supplier. But he warned that it would be “unreasonable” to think this would last throughout 2009. And on Friday, when the company unveiled… »

Vodafone was one of the few big blue chips in Europe to announce quarterly results that met expectations on Friday, sending its stock up by a respectable 2.2% to 119.5 pence in London trading.Yet the world’s largest cell phone network supplier still has big challenges ahead. It gets more than 70% of its sales from… »