Daily Highlights: 1.22.10
- Asian stocks, oil fall on China rates concern, Obama bank plan.
- Asia-Pacific bond risk jumps on Obama bank threat, China growth.
- China is expected to soon surpass Japan as No.2 economy on its revision of 2008 GDP.
- China’s growth surge may make inflation task tougher: Chinese Premier.
- Gold heads for biggest weekly slump in six on Dollar's gain, China outlook.
- Iraq signs Zubair oil field deal with Italy's Eni, US firm Occidental and SKorea's KOGAS.
- Japan court rejects tobacco lawsuit, notes health dangers while refusing damages.
- Obama calls for limiting size, risk-taking of financial firms.
- Oil trades near $76 as US refiners reduce processing on weak fuel demand.
- US unemployment claims unexpectedly surged in the latest week, up 36,000.
- AmEx Q4 profit nearly tripled to $716M, as loan-loss provisions fell 47% on flat revs.
- AMP Ltd. almost doubled its residential mortgage-backed securities sale to $902M.
- Bids for MGM turned out a shade better than expected, but offers aren't close to
- British Sky lost its latest attempt to stop UK govt forcing it to divest a 17.9% holding in ITV.
- Burlington Northern's Q4 profit drops 12.8% to $536M on 15.8% dip in revs to $3.68B.
- Consolidated Edison posted 26% rise in Q4 net at $202M as revs grew 9% to $3.27B.
- EU cleared Oracle's $7.4B takeover of Sun Microsystems.
- GE's Dec. net income declined from $3.7B in 2008 to $3.0B in 2009.
- Google's Q4 revenue grew 17% to $6.67B, profits more than quintupled to $1.97B.
- JPMorgan, Goldman may be forced to sell buyout units under Bank proposal.
- McDonald's Dec. net income rose from $985M in 2008 to $1.2B in 2009.
- Metro-Goldwyn received bids from $1.5B to $2.5B, but still short of covering debt.
- Rusal raised $2.24B in first Hong Kong IPO by Russian company.
- Sony Ericsson's Q4 net loss narrowed to €167M despite a 40% fall in revs to €1.75B.
- Southwest Airlines posts Q4 profit of $116M helped by lower fuel bills.
- Target curbs new store expansion; to spend $1B in remodelling its existing shops.
- Toyota will recall about 2.3M vehicles in US to fix sticking accelerator pedals.
- UnitedHealth's Q4 net jumps 30% to $944M helped by 6.5% rise in revs to $21.78B.
- Xerox says it is only seeing "modest" improvement in sales, will cut more jobs in 2010.
Earnings Calendar: APD, AVX, BBT, EXC, GE, HBAN, HOG, JCI, KMB, MCD, SLB, STI.
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