United Parcel Service Inc, the world's largest package delivery service, on Tuesday said it expected a sharp increase in earnings in 2010 as the U.S. economy improves. UPS said it expected 2010 profit of $2.70 to $3.05 per share, an increase of 17 percent to 32 percent over 2009. The company's forecast creates a midpoint
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European shares extended gains in afternoon trade on Tuesday, led by the banking sector ahead of White House adviser Paul Volcker's congressional testimony. By 1441 GMT, the pan-European FTSEurofirst 300 index of top shares was up 0.8 percent at 1,026.34 points, after hitting a day's high of 1,028.19. In Europe, banks added the most points
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Pending sales of previously owned U.S. homes edged up as expected in December, a survey showed on Tuesday, which should help to calm fears of renewed weakness in the troubled housing sector. But the housing recovery remains slow and painful, with other data showing the percentage of empty privately owned homes rose to 2.7 percent
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Greece warned on Tuesday its fiscal troubles were part of a wider euro zone problem, with Spain and Portugal next in line, and said a joint euro bond could be one way out of the crisis. Greece's ballooning deficit and debt have reverberated across the euro group, hitting the euro currency and bond prices and
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Moody's Investors Service has downgraded the bank financial strength rating (BFSR) of Gulf Bank (Kuwait) to D- from D+, while the long-term global local currency (GLC) and foreign currency deposit ratings were also downgraded to Baa2 from A3. All the ratings now carry a stable outlook. Moody's said the rating actions reflect the significant challenges
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British construction activity fell at its slowest pace in 23 months in January, a survey showed on Tuesday, as firms shed jobs at a reduced pace and confidence improved, but a fall in orders showed conditions remain tough. The Chartered Institute of Purchasing and Supply and Markit said their construction PMI index rose to 48.6
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Oil rose above $75, gaining for the second day on Tuesday, on prospects that demand will increase due to strong economic data from China and the United States, the world's top two energy consumers. But price gains were capped due to a stronger dollar [FRX/] and because current fuel demand remains weak in many developed
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World stocks bounced back on Tuesday after hitting three-month lows a day earlier, but gains were limited ahead of key economic data and rate decisions from the European Central Bank and the Bank of England this week. Worries over tougher banking regulations and Greece's deficit situation prompted equity investors to trade cautiously as they waited
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Britain's top share index fell 0.3 percent early on Tuesday, pressured by energy stocks after disappointing results from BP, which outweighed solid gains from miners helped by positive broker comment. By 0912 GMT, the FTSE 100 was off 17.46 points at 5,229.95, after closing 58.89 points, or 1.1 percent higher on Monday. Energy stocks were
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A pricing battle lost by Amazon.com Inc to a top publisher may herald pressure from other publishers, compromising low e-book prices which could potentially hit sales volume growth for its Kindle e-reader. The news highlighted for the first time that the world's largest online retailer, and its market-leading Kindle, could soon be challenged by new
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