Stocks opened little changed on Thursday, a day after the Dow pushed to a 17-month high, as gains in materials shares were offset by declines in financial companies. The Dow Jones industrial average (.DJI) gained 15.57 points, or 0.15 percent, to 10,749.24. The Standard & Poor's 500 Index (.SPX) edged up 0.14 point, or 0.01
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Package delivery giant FedEx Corp (FDX.N) posted sharply higher quarterly profit, citing an improving global economy. Memphis-based FedEx reported profit for its fiscal third quarter ended Feb 28 of $239 million, or 76 cents per share, up from $97 million, or 31 cents per share, a year earlier. Revenue rose 7 percent to $8.7 billion.
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The number of U.S. workers filing new applications for unemployment benefits fell less than expected last week, while consumer prices were unchanged in February on lower energy prices. The data on Thursday pointed to a gradual improvement in the labor market and generally muted inflation pressures, which should allow the Federal Reserve to honor its
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Greece raised the stakes on Thursday in its quest for EU help to tackle its debt crisis, warning it cannot achieve promised deficit cuts if its borrowing costs remain so high and may have to call in the IMF. The country, however, strongly denied a report that it was scheduled to turn to the international
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The Aaa rating on the debt issued by the government of Luxembourg is underpinned by low debt and substantial financial buffers, Moody's Investors Service said in its new sovereign credit analysis. Given their favourable starting point, government finances should be able to absorb the challenges posed by the economy's dependence on financial services and adverse
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Marfin Popular Bank Public Co Ltd announced that its Board of Directors will meet on Tuesday, 30 March 2010 to examine, among other subjects, the Final Financial Statements and its proposal to the General Meeting regarding the dividend policy for the financial year 2009. On the same day the results will be announced to the
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A rise in the yuan would be a disaster for labor-intensive Chinese exporters, a semi-official trade group said on Thursday, as frictions grow with the U.S. and other Western powers over Beijing's stable currency policy. The China Council for the Promotion of International Trade was checking with more than 1,000 exporters in 12 industries on
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Christie's has put a record price tag on an important Picasso painting from his celebrated Blue Period that will be offered for sale in London in June. "Portrait of Angel Fernandez de Soto (The Absinthe Drinker)," dated 1903, is expected to fetch 30-40 million pounds ($45-60 million), the highest pre-sale estimate for any work of
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Cellphone developer HTC Corp said it is confident it can fight off a recent technology patent infringement lawsuit from iPhone maker Apple Inc and promised to issue a formal response in the next few weeks. The comments released on Thursday follow a lawsuit from Apple earlier this month, accusing HTC of infringing on 20 iPhone
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The Cyprus Chamber of Commerce and Industry launched on Wednesday an initiative on Corporate Responsibility during a ceremony here today in the presence of Cyprus President Demetris Christofias. Fifty one businesses signed the Charter Against Climate Change which commits them to working to fulfill Cyprus’ national goal to reduce carbon dioxide emissions by 15% by
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