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Dow Jones Newswires | United Airlines has lodged a protest with U.S. regulators after it was
frozen out of new services to Tokyo’s downtown Haneda airport.
The U.S. Department of Transportation last month made a tentative award
of the four daily routes to Delta Air Lines Inc., the American
Airlines unit of AMR Corp. and Hawaiian Holdings Inc., parent
of Hawaiian Airlines.
Associated Press | Downtown Bangkok became a flaming battleground Wednesday as an army assault forced anti-government protest leaders to surrender, enraging followers who shot grenades and set fire to landmark buildings, cloaking the skyline in black smoke. After Red Shirt leaders gave themselves up to police, rioters set fires at the Stock Exchange, several banks, the headquarters of the Metropolitan Electricity Authority, Central World — one of Asia’s biggest shopping malls — and a cinema that burned to ground.
Get the full story: Protesters set Thai stock exchange on fire.
Associated Press | Thailand’s government said Wednesday parts of
Bangkok were still not under control after a military offensive that
shut down an antigovernment protest camp. Hardliners set fire to a TV
station, the stock exchange building and a shopping mall.
Traders on the floor of the New York Stock Exchange Monday, May 17, 2010. (AP Photo/Richard Drew)
Associated Press | European stock markets rebounded Monday, and the euro pushed back up above near four-year lows against the dollar, despite ongoing worries about the continent’s sovereign debt crisis. In the U.S., the Dow Jones industrial average was up about 3 points at
10,623.11 soon after the open, while the broader S&P
500 index rose 1.64 points, or 0.1 percent.
Get the full story: European markets rebound as euro perks up.
From the Financial Times | CME Group has changed plans for launching over-the-counter credit default swap clearing in Europe and will instead with with OTC energy derivatives. “Following discussions with our European customers, we have augmented
our FSA-regulated clearing house application to include energy
products. Going forward, the service intends to include other asset
types, including CDS,” said CME spokesman Jeremy Hughes.
Get the full story: ft.com
Associated Press | The euro sank to just above a 4-year low against the dollar Friday as
economic data suggested a stronger recovery in the U.S. while the cost
and economic fallout of an emergency financing deal for indebted
European countries hurt the shared European currency.
The euro, which is used by 16 countries, slid to a 19-month low of
$1.2359 in midday trading in New York. That’s more than 2 cents off its
high from the day. A break below $1.2328 would mean the euro was
trading at its lowest point in more than 4 years.
Dow Jones Newswires | A Canadian judge explained her reasons for
approving Smurfit-Stone Container Corp.’s reorganization plan, leaving
it to a U.S. bankruptcy judge to make the final ruling on whether the
box-maker is free to emerge from Chapter 11 protection.
Justice Sarah Pepall of the Ontario Superior Court of Justice said
Smurfit-Stone’s scheme of arrangement was fair and reasonable, and had
votes of support from most creditors of the company’s Canadian units,
according to a copy of her ruling filed with the U.S. bankruptcy court.
Dow Jones Newswires | Chicago real-estate magnate Sam Zell’s
investment company, Equity International, has reduced its stake in
Brazilian home builder Gafisa to 7.18 percent from 11.48 percent,
Gafisa said late Thursday.
From Polish Market | Woodward Governor Co. plans to open a new facility near Krakow, Poland where it has operated a plant since 2005.
Get the full story: polishmarket.com
From Reuters | Congress is considering identical bills that could help Boeing Co. best Europe’s EADS for a potential $50 billion U.S. Air Force contract. The bills were introduced in the U.S. House of Representatives and Senate on Thursday.
Get the full story: reuters.com.
From Reuters | Jim Owens, the chairman and chief executive of Caterpillar, warned against regulations that might prevent Chinese and
other overseas companies from buying U.S. businesses. Owens said on Wednesday that efforts to discourage cross-border deals, like China National Offshore Oil Corp’s derailed effort to take over U.S. oil firm Unocal Oil back in 2005, made it more difficult for U.S. companies to invest in overseas markets.
Get the full story: reuters.com.
By Julie Wernau | Downers Grove-based consumer products giant Sara Lee will sell its 51
percent stake in Indian food company Godrej, according to a release from
Sara Lee. The joint venture, called Godrej Sara Lee, primarily markets
insecticides in India. Sara Lee will sell its stake for $234 million.
Brenda Barnes, chairman and chief executive of Sara Lee Corp., said the
sale is part of the company’s strategy to focus on its core food and
beverage businesses. The company has also received offers from Unilever
for its body care business for 1.275 billion euros ($1.61 billion) and
from P&G for its air care business for 1.780 billion euros ($2.26
billion). The company said it has also seen “strong interest” in other
segments of its international household and body care business that it
wishes to divest — shoe care, non-Indian insecticides and certain
non-European cleaning brands.
Associated Press | The dollar edged higher Wednesday
against the euro and the pound on concerns about the nearly $1 trillion
financing package for euro countries and the new British government’s
plan to reduce its debt. The euro dropped to $1.2639 in midday trading
in New York Wednesday from $1.2694 late Tuesday.
The euro has been under pressure because of fears that Greece’s
financial woes will drive up borrowing costs and perhaps lead to default
by other indebted euro countries such as Portugal. The debt problems
led some to speculate that some of the 16 countries using the common
currency could leave the monetary union.
Get the full story: Dollar extends gains on worries over debt plans.
A pair of specialists work on the floor of the New York Stock Exchange on Tuesday, May 11, 2010. (AP Photo/Richard Drew)
Associated Press | The stock market mostly held on to its big comeback after investors set aside worries about Europe’s debt struggles. The Dow Jones industrial average fell about 37 points after fluctuating for much of the day. Broader indexes were mixed.
Analysts said it was encouraging to see the market hold on to most of its gains from Monday, when the Dow soared 405 points in response to the creation of a bailout fund for weak countries like Greece. Tuesday’s steady trading signaled that the previous day’s big advance wasn’t solely driven by euphoria.
Get the full story: Stocks fall after excitement wanes over EU plan.
