New York, May 6 (DPA) US stocks fell slightly Tuesday amid reports that the government will require banks to raise more capital in the ongoing recession.
The results of the government’s so-called stress tests, which are designed to evaluate the health of the country’s 19 largest banks, are due to be released Thursday.
Los Angeles, May 6 (DPA) Entertainment conglomerate Disney saw second quarter profits plunge by 46 percent, the company said Tuesday.
Citing restructuring charges, declining DVD sales and a drop in advertising, Disney said it earned $613 million in the quarter compared to $1.13 billion a year ago.
Washington, May 6 (DPA) Perched on the brink of collapse, Chrysler LLC. crept forward Tuesday with approval by a US bankruptcy judge to start drawing down from a government loan to pay outstanding bills.
The funds would come from a $4.5-billion bankruptcy loan from the US Treasury Department, Bloomberg reported.
Mumbai, May 5 (IANS) India’s rupee Tuesday shot up 62 paise to close at a two-and-a-half month high of 49.30/31 against the US dollar, thanks to sustained capital inflows and the recent rise in the equities markets.
During the trade at the Interbank Foreign Exchange (Forex) market, the domestic unit resumed strong at 49.60/62 against the dollar from its previous close of 49.92/94.
Bangalore, May 5 (IANS) Indian IT professionals Tuesday slammed President Barack Obama’s move to end tax incentives for US companies that ship jobs to countries like India, saying it will neither benefit the US nor its corporate sector.
Toronto, May 5 (IANS) BlackBerry-maker Research In Motion (RIM) has announced a strategic tie-up with Hewlett Packard (HP) to provide “a portfolio of solution”‘ to businesses on its smartphones.
Under the tie-up, Hewlett Packard will unveil HP CloudPrint to enable BlackBerry users to print emails, photos, web pages and other documents from their smartphones to the nearest printer - at home, in the office or on the road.
New York, May 5 (DPA) About 10 large US banks will need to increase their capital under a government stress test to measure their health, a news report has said, citing people familiar with the discussions.
Citigroup, the Bank of America and Wells Fargo are among the 19 banks being examined by the Obama administration who may need to raise more capital to protect themselves against the ongoing financial crisis, the Wall Street Journal reported Tuesday.
Toronto, May 5 (IANS) Canadian markets made the biggest one-day gain of the year Monday, with the Toronto Stock Exchange (TSX) composite index jumping 373.41 points to almost touch the 10,000-mark.
The energy and mineral-rich market jumped up after a string of positive indicators from the US and China - Canada’s two biggest trading partners.
Washington, May 2 (IANS) President Barack Obama’s tech-savvy administration has taken another leap into cyberspace with the roll-out of ‘White House 2.0.’ linking it to social networks MySpace and Facebook and hot micro-blogging service Twitter.
New York, May 1 (IANS) For those who have an account with social networking site Facebook - take care not to click on messages urging you to “check this out”. It could be a worm luring you to provide information.
The site has been hit by two phishing attacks on two consecutive days, with a worm prompting users to log in to a fake Facebook page, Facebook spokesman Barry Schnitt has said.