Archive for June, 2009
Stock futures flat to higher as data awaited later in week (Reuters)
NEW YORK (Reuters) –
U.S. stock futures were flat to higher on Monday as investors looked to new data later in the holiday-shortened week for clues over the direction of the recession-hit economy.
U.S. stocks have run up as much as 40 percent since early March but have drifted recently as investors looked for signs to justify [...]
29Jun2009 | it-y | 0 comments | Continued
VW, Porsche must agree on future soon: government (Reuters)
BERLIN (Reuters) –
Cash-rich German carmaker Volkswagen AG (VOWG.DE) and its ailing majority owner Porsche SE (PSHG_p.DE) must decide soon whether to integrate or not, VW's home state of Lower Saxony said on Monday.
"We need to clarify now whether each will go his own way or whether there is a common solution," conservative state premier Christian [...]
29Jun2009 | it-y | 0 comments | Continued
Towers Perrin, Watson Wyatt to merge in $3.5 billion deal (Reuters)
NEW YORK (Reuters) –
Consulting firms Towers Perrin Forster & Crosby and Watson Wyatt Worldwide (WW.N) said on Sunday they plan to merge in an all-stock deal valued at about $3.5 billion, as they hope to cut costs amid an economic slump that has caused clients to curb discretionary spending.
Under terms of the deal, Watson Wyatt [...]
29Jun2009 | it-y | 0 comments | Continued
Madoff can expect de facto life term at sentencing (Reuters)
NEW YORK (Reuters) –
Admitted thief Bernard Madoff will leave his jail cell and be taken under guard to court on Monday morning to hear his punishment for running Wall Street's biggest and most brazen investment scheme.
A U.S. judge is expected to sentence Madoff, 71, to an effective life term in prison during an emotional court [...]
29Jun2009 | it-y | 0 comments | Continued
Stocks eye job data in July 4th week (Reuters)
NEW YORK (Reuters) –
For investors, June's job data could determine in this short July 4th holiday week if the stock market's recent rally is reignited or sputters out like a wet firecracker.
The monthly nonfarm payrolls report will come out on Thursday, instead of the usual Friday. U.S. markets will be closed on Friday, July 3, [...]
29Jun2009 | it-y | 0 comments | Continued