Most stocks fell in Europe and Asian shares retreated as Germany entered a recession, Intel Corp. cut its sales forecast and Zurich Financial Services AG posted earnings that missed analysts’ estimates. U.S. index futures rose.
Intel, the world’s largest semiconductor maker, sank 6.7 percent in Germany after cutting its fourth-quarter revenue estimate by about $1 billion. [...]
Archive for November 13th, 2008
Most Europe Stocks Fall, Asian Shares Drop; U.S. Futures Rise
November 13, 2008Posted in Finance | Tags: Andrew Lynch, Asian, BHP, BHP Billiton, billion, bourse, company, computers, Crude oil, debt, demand, Dow Jones Stoxx, Economists, estimated, Europe, euros, financial crisis, fourth-quarter, fuels, German economy, Germany, Great Depression, Gross domestic product, hurricanes, ICAP, ICAP Plc, Infineon Technologies, insurer, Intel, Intel Corp, interbank broker, investors, kroner, Kuwait, Kuwait Stock Exchange, LG, London, market stocks, metals, metals prices, Micex, million, Morgan Stanley, MSCI, MSCI Asia Pacific Index, natural-gas, Norway, oil, pence, product, Recession, revenue, Russia, Schroder Investment Management Ltd, semiconductor, shares, Sharp, South Korea, Standard & Poor, StatoilHydro, STMicro, STMicroelectronics NV, Switzerland, third quarter, Tullett Prebon, U.S, U.S. index, western Europe, world, world's largest mining company, Zurich, Zurich Financial, Zurich Financial Services | Leave a Comment »
BT to Cut 10,000 Jobs; Second-Quarter Profit Falls
November 13, 2008BT Group Plc, the U.K.’s largest phone company, aims to cut about 6 percent of its workforce in the year through March to improve profitability after reporting a slide in second-quarter earnings.
Most of the 10,000 cuts, out of a workforce of 160,000, will be in the area of “indirect labor” such as agency, contractors, subcontractors [...]
Posted in Finance | Tags: quarter, BT Group Pl, BT, U.K, phone company, U.K.'s largest phone company, agency, contractors, subcontractors, offshore workers, company, interest, taxes, depreciation, amortization, costs, jobs, pounds, fiscal second quarter, economic, London, clients, Chief Financial Officer, Hanif Lalani, Schroder Investment Management, Schroder, Investment, economic slump, Livingston, Ebitda, services, rancois Barrault, Lalani | Leave a Comment »
Siemens Profit Misses Estimates on Job-Cut Charges (Update2)
November 13, 2008Siemens AG, Europe’s largest engineering company, reported fourth-quarter profit that fell more than analysts estimated on costs for job cuts at rail- equipment and health-care units.
Earnings at the main industry, energy and health-care divisions, which Siemens calls sector profit, declined to 1.49 billion euros ($1.86 billion) from 1.99 billion euros a year earlier, the Munich-based [...]
Posted in Finance | Tags: ABB, ABB Ltd, Alstom, Alstom SA, Areva SA, Asia, Austrian, automation equipment, billion, bribery scandal, Chief Executive Officer, China, Christel Monot, diagnostic equipment, Earnings, Eaton Corp, energy, engineering, engineering company, Europe, Europe's largest engineering company, euros, fossil, France, Frankfurt, French company, Fujitsu, Fujitsu Ltd, General Electric Co, German, German manufacturer, global gross domestic product, global power, health-care, industry, job, job cuts, Loescher, Management, markets, Munich, network, Nuclear, Olkiluoto, Peter Loescher, Philippe Joubert, plant, power transmission systems, profit, Quarterly, revenue, revenue growth, sales, Schneider Electric SA, share, Siemens, Siemens AG, U.S, UBS, venture, world economy | Leave a Comment »
German Economy Enters Worst Recession in 12 Years (Update1)
November 13, 2008The German economy, Europe’s largest, contracted more than economists expected in the third quarter, confirming it has entered its worst recession in at least 12 years as the global financial crisis curbs exports and spending.
Gross domestic product dropped a seasonally adjusted 0.5 percent from the second quarter, when it fell a revised 0.4 percent, the [...]
Posted in Finance | Tags: 15-nation euro region, Adam Opel, Add new tag, aircraft, airline, Anecdotal, Angela Merkel, bank, bankruptcy, barrel, Beijing, benchmark, Bochum, Brussels, business, Carsten Brzeski, central banks, Chancellor Angela Merkel, Commerzbank AG, Consumer, Continental AG, credit, crisis, DAX, DAX Index, decline, demand, Deutsche, Deutsche Bank, Deutsche Lufthansa AG, dollar, Economists, economy, Eisenach, Eonia, euro, euro region, Europe, European, European Central Bank, European Commission, European Union, Eurostat, export, exports, Federal Statistics Office, financial, financial crisis, forecasts, Frankfurt, General Motors, General Motors Corp, German, German companies, German economy, global, global financial crisis, global growth, government, Gross domestic product, growth, Households, IMF, impact, indicators, inflation, ING Group, interest rates, International Monetary Fund, Japan, Lehman Brothers, Lehman Brothers Holdings Inc, leisure travel, Lufthansa, manufacturing, marginal, median, monetary policy, mortgage, mortgage market, News survey, oil prices, orders, percent, production, quarter, Ralph Solveen, Recession, second quarter, September, spending, Stefan Bielmeier, subprime mortgage market, third quarter, today, travel, U.S, U.S. housing slump, U.S. subprime mortgage market, Washington, Wiesbaden, world | Leave a Comment »
