Daily Highlights: 3.2.10
- Asian stocks climb on US consumption, improving economic outlook, semiconductor sales.
- Australia raises benchmark rate to 4% as recovery withstands debt concerns.
- Brazil stocks gain as commodities, metals surge.
- Colombia eyes up to $800M 2010 debt issues.
- EU sets clock ticking on Greece as Merkel talks near.
- Global semiconductor sales surprisingly rose 0.3% in Jan from the previous month.
- Japan's Jobless rate unexpectedly declines to 4.9% as exports spur hiring.
- Oil hovers below $79 in Asia as investors eye mixed signals from US economy.
- Pound declines for sixth day on prospect of political deadlock; Yen drops.
- World-wide hotel rates fell 14% last year as the recession continued to dent travel.
- ABM Industries' Q1 EPS comes in at $0.27 (cons $0.32); revs fell 2.0% to $869.9M.
- AIG sells its Asian operations in a govt-approved $35.5B deal to Prudential PLC.
- ArvinMeritor says underwriters purchase 2.6M shares at $10.50/sh.
- CF Industries offers $4.7BforTerra.
- CIT Group expects $900M loss in 4Q, $4B for year.
- Daimler, BYD Co. to jointly develop an electric vehicle to be sold in China.
- Diageo to buy stake in Sichuan Shui Jing Fang Co., one of China's oldest spirits brands.
- General Motors to recall 1.3M compact cars to fix power steering.
- GM expected to announce a shake-up of its sales and marketing operations.
- Hebei Iron & Steel Group is in talks to invest $6B in an iron ore project in Brazil.
- LyondellBasell Board said to reject $14.5B Reliance Industries bid.
- McDermott Intl reported Q4 sales of $1.46B, missing avg. analyst est. of $1.56B.
- Nortel's Chapter 11 trustee objects to proposed 'extraordinary' bonuses.
- OSI Pharmaceuticals' Board rejects Astellas Pharma's $3.5B hostile takeover offer.
- Qualcomm plans to buy back as much as $3B of shares, ups qtrly dividend by 12% to $0.19/sh.
- Singapore's GIC, Abu Dhabi face $10B loss on UBS, Citigroup stakes.
- Sony says about two thirds of its PlayStation 3 video-game consoles (20M) may have a glitch.
- Toyoda: Key reason for quality problems was an excessive focus on market share, profits.
- US Treasury Dept scheduled a March 3 auction of BoA warrants granted to it.
- Watson Pharma to divest its ownership position in ScinoPharm Taiwan for $94M.
Economic Calendar: Data on Auto Sales to be released today.
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Data provided by Egan-Jones Ratings and Analytics
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