Financial News

Debt-laden miner Rio Tinto reaps rights bonanza - AFP - Fri 03 Jul, 03:56 AM
Mining giant Rio Tinto has confirmed a huge take-up for its record rights offering after investors snapped up the Australian portion, allowing it to pay off a large chunk of its heavy debt.

Obama sure of rebound despite job loss figures - AFP - Fri 03 Jul, 03:14 AM
President Barack Obama said he was confident the US economy would recover, despite new data showing unemployment at a 26-year-high of 9.5 percent, which dampened hopes of a quick rebound.

GM bankruptcy exit hearing closes - AFP - Thu 02 Jul, 10:07 PM
The fate of General Motors was placed in the hands of a New York judge Thursday who must decide whether the largest US automaker can execute a swift exit from bankruptcy protection by selling its best assets to a new company.

Siemens to pay $100 million to fight graft: World Bank - AFP - Thu 02 Jul, 08:38 PM
German industrial giant Siemens will pay 100 million dollars over 15 years into a fund to fight corruption after probes revealed fraud at its subsidiaries, the World Bank said Thursday.

Weak US jobs data dashes quick recovery hopes - AFP - Thu 02 Jul, 08:17 PM
Dampening hopes of an early recovery from recession, official figures Thursday showed US job losses surged to 467,000 in June, pushing the unemployment rate to a new 26-year high of 9.5 percent.

Austrian Airlines to cut 1,000 jobs: company - AFP - Thu 02 Jul, 07:40 PM
Austrian Airlines said Thursday it would cut 1,000 jobs following record losses in 2008 and amid a troubled bid by German flag carrier Lufthansa to take over the company.

Market overview: FTSE 100 closes down 106 - ShareCast - Thu 02 Jul, 05:21 PM
1630 close: Footsie closed the day nursing triple-digit losses as investors took fright following poor US monthly jobs figures. WPP was the day's worst performer as Citigroup downgraded the UK advertising firm to sell from hold. Rio Tinto also fell despite a strong response to its $15.2bn rights issue. Shareholders have taken up 96.97% of the shares offered to them, with major shareholder Chinalco has taken up its entitlement in full. London Stock Exchange fell after it announced a new pricing scheme yesterday. The stock market operator says the new tariff would have resulted in £3m worth of trading fee reductions between January and March. FTSE 100 down 106 points to 4234.

Boeing aircraft deliveries steady at 125 in quarter - AFP - Thu 02 Jul, 05:06 PM
Boeing Co. said Thursday it delivered 125 civilian aircraft in the second quarter, little changed from the 126 in the same period a year ago.

Oracle to cut up 1,000 jobs in Europe: unions - AFP - Thu 02 Jul, 04:16 PM
US software giant Oracle has unveiled plans to cut 850 to 1,000 jobs in Europe in light of weaker than expected growth projections, trade unions said Thursday.

Cash rolls in at NCC - ShareCast - Thu 02 Jul, 04:09 PM
IT security assurance group NCC Group put in a strong second half to its financial year to achieve its strongest performance in its five year history as a public company.

FTSE 100 movers: Miners hit by market wobble 03:52 PM [ ShareCast]
Market overview: FTSE 100 down 98 03:44 PM [ ShareCast]
US loses 467,000 jobs, unemployment at 9.5% 02:37 PM [ AFP ]
Market overview: FTSE 100 down 79 02:27 PM [ ShareCast]
FTSE 250 movers: Investors show thirst for pubs 02:16 PM [ ShareCast]

Broker snap: Greene King tops forecasts 01:30 PM [ ShareCast]

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