(Reuters) - FRANKFURT, April 20 - Germany's SAP met analysts' forecasts for sales of new software licences but missed expectations for earnings after a difficult first quarter in which it lost a top manager and faced a lawsuit from a rival.
The world's biggest maker of business software said on Friday licence sales, which hook customers into lucrative maintenance and service deals, rose 10 percent to 564 million euros in the three months to end-March.
Read more at Reuters.com Market News
Thursday, April 19, 2007
Japan's Nikkei Gains on Easing Concern Over Global Sell-Off, Led by Toyota
(Bloomberg) -- Japanese stocks gained after the Dow Jones Industrial Average rose to a record in the U.S., easing concern a plunge yesterday in Chinese stocks would lead to a global sell-off.
Exporters such as Toyota Motor Corp., which led yesterday's slide, paced the rebound.
Read more at Bloomberg Stocks News
Exporters such as Toyota Motor Corp., which led yesterday's slide, paced the rebound.
Read more at Bloomberg Stocks News
Hoya to extend negotiations with Pentax -source
(Reuters) - By Kentaro Hamada
TOKYO, April 20 - Hoya Corp. has decided to continue talks with Pentax Corp. through the end of May in the interest of merging with the camera and medical equipment maker on friendly terms, a source close to the matter said on Friday.
Read more at Reuters.com Mergers News
TOKYO, April 20 - Hoya Corp. has decided to continue talks with Pentax Corp. through the end of May in the interest of merging with the camera and medical equipment maker on friendly terms, a source close to the matter said on Friday.
Read more at Reuters.com Mergers News
U.K. Pound Headed for Weekly Advance on Bets BOE Will Raise Interest Rates
(Bloomberg) -- The pound headed for a second weekly gain versus the dollar as signs U.K. inflation is quickening prompted investors to raise bets the Bank of England will lift interest rates twice more this year.
The U.K. currency reached $2 this week for the first time since 1992 when George Soros and other speculators forced it out of the European system of linked exchanged rates. Government reports showed rising inflation, which climbed to the highest in a decade last month, might be feeding into wage negotiation.
Read more at Bloomberg Currencies News
The U.K. currency reached $2 this week for the first time since 1992 when George Soros and other speculators forced it out of the European system of linked exchanged rates. Government reports showed rising inflation, which climbed to the highest in a decade last month, might be feeding into wage negotiation.
Read more at Bloomberg Currencies News
Australian Cattle Prices Plunge the Most in Six Months on Drought Concern
(Bloomberg) -- Cattle prices in Australia, the world's second-largest beef exporter, had their biggest weekly plunge in six months as continuing drought depletes feed supplies, forcing farmers to sell livestock.
Australia's benchmark Eastern Young Cattle Indicator, which measures auction prices of young cattle sold at sale yards in the east of the country, fell 28 cents, or 8.6 percent this week, to close at A$2.96 ($2.47) a kilogram. That's the biggest weekly fall since a 9.1 percent plunge in the week ending Oct. 20.
Read more at Bloomberg Commodities News
Australia's benchmark Eastern Young Cattle Indicator, which measures auction prices of young cattle sold at sale yards in the east of the country, fell 28 cents, or 8.6 percent this week, to close at A$2.96 ($2.47) a kilogram. That's the biggest weekly fall since a 9.1 percent plunge in the week ending Oct. 20.
Read more at Bloomberg Commodities News
Google, American Express Advance on Earnings Reports: U.S. After-Hours
(Bloomberg) -- Google Inc. gained in extended trading after the owner of the most popular Internet search engine said first-quarter profit rose 69 percent as the company boosted advertising sales and took market share away from Yahoo! Inc.
Shares of Mountain View, California-based Google added $14.35 to $486 at 5:39 p.m. in New York. The company said net income increased to $3.18 a share from $1.95 a year earlier. Profit excluding costs for stock options was $3.68 a share, exceeding the average estimate of 27 analysts surveyed by Bloomberg. Sales excluding revenue passed on to partners rose to $2.53 billion, exceeding analysts' estimates.
Read more at Bloomberg Stocks News
Shares of Mountain View, California-based Google added $14.35 to $486 at 5:39 p.m. in New York. The company said net income increased to $3.18 a share from $1.95 a year earlier. Profit excluding costs for stock options was $3.68 a share, exceeding the average estimate of 27 analysts surveyed by Bloomberg. Sales excluding revenue passed on to partners rose to $2.53 billion, exceeding analysts' estimates.
Read more at Bloomberg Stocks News
Philippine Peso Advances, Bonds Drop as Central Bank Curbs Money Supply
(Bloomberg) -- Philippine bonds fell, the biggest fluctuation among government debt markets today, after the central bank introduced new rules to curb growth in money supply. The peso strengthened.
Five-year bonds fell the most in at least a month after Bangko Sentral ng Pilipinas yesterday expanded access to its deposit accounts with higher interest rates to government pension funds, state-owned companies and some investment trusts. They were previously available only to banks. The central bank held its overnight policy rate at 7.5 percent and maintained lower payments for larger deposits.
Read more at Bloomberg Currencies News
Five-year bonds fell the most in at least a month after Bangko Sentral ng Pilipinas yesterday expanded access to its deposit accounts with higher interest rates to government pension funds, state-owned companies and some investment trusts. They were previously available only to banks. The central bank held its overnight policy rate at 7.5 percent and maintained lower payments for larger deposits.
Read more at Bloomberg Currencies News
Brown Says Britons Are Bored With Celebrities: Can He Really Be Serious?
(Bloomberg) -- Gordon Brown, Britain's prime minister-in-waiting, is known as a solemn, thoughtful man. When he said that the U.K. was tiring of celebrity trivia, many gossip- loving Britons asked: Can he be serious?
Brown, the chancellor of the exchequer, got people talking with an April 14 interview in the Guardian newspaper.
Read more at Bloomberg Exclusive News
Brown, the chancellor of the exchequer, got people talking with an April 14 interview in the Guardian newspaper.
Read more at Bloomberg Exclusive News
U.S. Notes Head for Weekly Gain as Inflation Slows, Housing Market Weakens
(Bloomberg) -- U.S. 10-year Treasuries headed for a weekly gain on speculation inflation will slow because economic growth may weaken.
Notes snapped a four-week run of losses after an inflation index this week declined more than economists predicted. A housing recession is feeding expectations the Federal Reserve will cut interest rates by the end of the year.
Read more at Bloomberg Bonds News
Notes snapped a four-week run of losses after an inflation index this week declined more than economists predicted. A housing recession is feeding expectations the Federal Reserve will cut interest rates by the end of the year.
Read more at Bloomberg Bonds News
Gold, Silver Rebound in Asia as Dollar's Fall Boosts Demand For the Metal
(Bloomberg) -- Gold and silver rebounded in Asia as the dollar headed for its fourth consecutive weekly decline against the euro, boosting demand for the precious metal as an alternative investment.
Gold generally moves counter to the dollar, which traded within a cent of its record low versus the euro on speculation slowing U.S. growth will cut the currency's appeal. Gold yesterday had its biggest one day fall since March 2.
Read more at Bloomberg Commodities News
Gold generally moves counter to the dollar, which traded within a cent of its record low versus the euro on speculation slowing U.S. growth will cut the currency's appeal. Gold yesterday had its biggest one day fall since March 2.
Read more at Bloomberg Commodities News
Crude Oil Gains on Speculation Rising Gasoline Output Will Bolster Demand
(Bloomberg) -- Crude oil rose in New York on speculation demand may climb as U.S. refiners increase operating rates to produce gasoline before the peak driving season starts.
Refiners bolstered operating rates by 2 percentage points last week, according to a U.S. Department of Energy report. Crude oil fell yesterday after the pipeline that supplies Canadian oil to the U.S. market resumed shipments.
Read more at Bloomberg Energy News
Refiners bolstered operating rates by 2 percentage points last week, according to a U.S. Department of Energy report. Crude oil fell yesterday after the pipeline that supplies Canadian oil to the U.S. market resumed shipments.
Read more at Bloomberg Energy News
Longview Fibre shareholders approve Brookfield deal
(Reuters) - Brookfield Asset Management agreed to buy Longview Fibre on February 5 for about $2.15 billion including assumed debt.
Read more at Reuters.com Mergers News
Read more at Reuters.com Mergers News
Rand rebounds after sharp early fall
(Reuters) - South Africa's rand rebounded against the dollar on Thursday after falling Chinese stocks and risk aversion pulled it down more than two percent in early trade.
The local currency was trading at 7.04 to the greenback at 1427 GMT, 0.3 percent weaker than its previous New York close, but just off a three-month high. It had slid to a session low of 7.1650 in early Johannesburg trade.
Read more at Reuters Africa
The local currency was trading at 7.04 to the greenback at 1427 GMT, 0.3 percent weaker than its previous New York close, but just off a three-month high. It had slid to a session low of 7.1650 in early Johannesburg trade.
Read more at Reuters Africa
Highland seeks investment meeting with Delphi
(Reuters) - Delphi rejected a previous Highland investment proposal to support its emergence from bankruptcy, and the U.S. Bankruptcy Court approved its decision to pursue the current deal.
The current deal remains contingent on Delphi reaching agreements with its unions and former parent General Motors Corp.
Read more at Reuters.com Bonds News
The current deal remains contingent on Delphi reaching agreements with its unions and former parent General Motors Corp.
Read more at Reuters.com Bonds News
UPDATE 1-Playtex buys Hawaiian Tropic for about $83 million
(Reuters) - Playtex said the purchase price for the stock of privately held Tiki Hut, and repayment of all outstanding debt at the closing, was $83 million, plus a seasonal working capital adjustment.
The company expects the acquisition to reduce 2007 earnings by 7 cents to 10 cents per share due to the seasonality of the business and the timing of the closing. However, the deal should add moderately to earnings over the first 12 months of ownership, Playtex said.
Read more at Reuters.com Bonds News
The company expects the acquisition to reduce 2007 earnings by 7 cents to 10 cents per share due to the seasonality of the business and the timing of the closing. However, the deal should add moderately to earnings over the first 12 months of ownership, Playtex said.
Read more at Reuters.com Bonds News
Allstate continues to reduce exposure in Florida
(Reuters) - Allstate has filed for an average rate decrease of 14 percent in homeowner policies following a directive by the state requiring all home insurers to cut their premiums.
Read more at Reuters.com Bonds News
Read more at Reuters.com Bonds News
S.Africa Woolies seeks to boost organic sales
(Reuters) - South African food and clothing retailer Woolworths aims to triple sales of organic-content clothing to more than 1 billion rand a year by 2012, Chief Executive Simon Susman said on Thursday.
The group also wants to increase its organic food sales by a multiple of five by the same year, but declined in an interview to give sales figures.
Read more at Reuters Africa
The group also wants to increase its organic food sales by a multiple of five by the same year, but declined in an interview to give sales figures.
Read more at Reuters Africa
Crude-Oil Prices Drop After Canadian Pipeline Resumes Shipments to U.S.
(Bloomberg) -- Crude oil fell below $62 a barrel in New York after Enbridge Inc., which supplies Canadian oil to the U.S., resumed shipments through a pipeline that was shut because of a leak.
The pipeline segment that ruptured was replaced and deliveries started yesterday at 5:40 p.m. Calgary time, the company said. The June through September futures contracts were down less than the May contract amid speculation U.S. crude-oil demand will surge. A government report yesterday showed that refiners bolstered operating rates by 2 percentage points.
Read more at Bloomberg Commodities News
The pipeline segment that ruptured was replaced and deliveries started yesterday at 5:40 p.m. Calgary time, the company said. The June through September futures contracts were down less than the May contract amid speculation U.S. crude-oil demand will surge. A government report yesterday showed that refiners bolstered operating rates by 2 percentage points.
Read more at Bloomberg Commodities News
UPDATE 1-Altria profit lifted by international tobacco unit
(Reuters) - The company's Philip Morris USA business, meanwhile, shipped fewer cigarettes, which the company blamed in part on weakness in the entire industry.
Altria, which spun off Kraft at the end of the quarter, said profit from continuing operations was $1.03 a share, excluding Kraft and other special items, compared with 98 cents a year earlier.
Read more at Reuters.com Market News
Altria, which spun off Kraft at the end of the quarter, said profit from continuing operations was $1.03 a share, excluding Kraft and other special items, compared with 98 cents a year earlier.
Read more at Reuters.com Market News
UPDATE 1-Wyeth posts strong profit, positive Pristiq data
(Reuters) - NEW YORK, April 19 - Wyeth said on Thursday quarterly earnings rose a better-than-expected 12 percent on strong sales of its vaccine against childhood infections, and reported positive trial results for its most important experimental drug.
The trial data shows low doses of Pristiq were effective against both depression and hot flashes and caused less nausea than seen in prior studies of higher doses. Although the new data will take more time for regulators to analyze, it could bolster prospects for its eventual approval and commercial success. Pristiq is now awaiting U.S. approval as a treatment for both conditions. But Wyeth and investors have been concerned about a high incidence of nausea seen among patients who took the drug in earlier trials to treat depression and hot flashes.
Read more at Reuters.com Market News
The trial data shows low doses of Pristiq were effective against both depression and hot flashes and caused less nausea than seen in prior studies of higher doses. Although the new data will take more time for regulators to analyze, it could bolster prospects for its eventual approval and commercial success. Pristiq is now awaiting U.S. approval as a treatment for both conditions. But Wyeth and investors have been concerned about a high incidence of nausea seen among patients who took the drug in earlier trials to treat depression and hot flashes.
Read more at Reuters.com Market News
Corrected: Harley-Davidson profit, sales hit by strike
(Reuters) - The U.S. motorcycle maker reported a first-quarter profit of $192.3 million, or 74 cents a share, compared with $234.6 million, or 86 cents a share, last year.
Sales fell 8.3 percent to $1.18 billion.
Read more at Reuters.com Business News
Sales fell 8.3 percent to $1.18 billion.
Read more at Reuters.com Business News
Calpine Reaches Prelinary Settlement With Holders of $12 Billion in Bonds
(Bloomberg) -- Calpine Corp., the bankrupt power generator, said it reached a preliminary settlement with a committee of bondholders that will eliminate one of the biggest groups of claims in its case.
The settlement, which requires court approval, will reduce $12 billion in claims to a single claim of $3.5 billion, the San Jose, California-based company said in a statement distributed today by PRNewswire.
Read more at Bloomberg Bonds News
The settlement, which requires court approval, will reduce $12 billion in claims to a single claim of $3.5 billion, the San Jose, California-based company said in a statement distributed today by PRNewswire.
Read more at Bloomberg Bonds News
CORRECTED - UPDATE 1-American Standard profit tops forecast
(Reuters) - NEW YORK, April 19 - Heating and cooling systems maker American Standard Cos. , which plans to separate its businesses this year, posted higher quarterly profit on Thursday as commercial air-conditioning demand helped offset residential weakness.
The company also raised its full-year forecast, saying it saw continued global strength in the commercial air-conditioning market, including healthy demand in Europe.
Read more at Reuters.com Mergers News
The company also raised its full-year forecast, saying it saw continued global strength in the commercial air-conditioning market, including healthy demand in Europe.
Read more at Reuters.com Mergers News
UPDATE 1-Marriott profit rises on rates, tops view
(Reuters) - Marriott, which mostly manages hotels rather than owning them, said net income nearly tripled to $182 million, or 44 cents per share, from $61 million, or 14 cents per share, a year earlier.
Net income in the year-ago quarter was reduced by 25 cents per share due to losses from the cumulative effect of change in accounting principle related to real estate timesharing transactions.
Read more at Reuters.com Market News
Net income in the year-ago quarter was reduced by 25 cents per share due to losses from the cumulative effect of change in accounting principle related to real estate timesharing transactions.
Read more at Reuters.com Market News
American Standard profit tops forecast
(Reuters) - NEW YORK, April 19 - Heating and cooling systems maker American Standard Cos. , which plans to separate its businesses this year, posted higher quarterly profit on Thursday as commercial air-conditioning demand helped offset residential weakness.
The company also raised its full-year forecast, saying it saw continued global strength in the commercial air-conditioning market, including healthy demand in Europe.
Read more at Reuters.com Market News
The company also raised its full-year forecast, saying it saw continued global strength in the commercial air-conditioning market, including healthy demand in Europe.
Read more at Reuters.com Market News
Continental Airlines posts Q1 profit
(Reuters) - The No. 4 U.S. carrier said net profit was $22 million, or 21 cents per share, including items, compared to a net loss of $66 million, or 76 cents per share, in the same period a year ago.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
Wyeth beats profit forecasts, as drugs deliver
(Reuters) - Excluding special items, Wyeth earned 94 cents per share. Analysts on average expected 87 cents per share, according to Reuters Estimates.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
Oil ebbs on pipeline restart, Iran worries support
(Reuters) - Benchmark Brent oil edged lower and U.S. crude fell on Thursday after a major Canadian pipeline was restarted, but renewed concern over Iran's nuclear programme lent some support to prices.
London Brent crude fell 19 cents to $65.85 a barrel by 0812 GMT, reversing Wednesday's 11-cent gain that pulled prices back from a three-week low of $64.76 a barrel. Benchmark U.S. crude fell 45 cents to $62.68.
Read more at Reuters Africa
London Brent crude fell 19 cents to $65.85 a barrel by 0812 GMT, reversing Wednesday's 11-cent gain that pulled prices back from a three-week low of $64.76 a barrel. Benchmark U.S. crude fell 45 cents to $62.68.
Read more at Reuters Africa
Seaspan's 5 mln share offering priced at $29.45/shr
(Reuters) - The company said it intends to use the net proceeds to fund a portion of the purchase prices of the undelivered vessels that it has contracted to buy and for working capital and other general corporate purposes.
Read more at Reuters.com Government Filings News
Read more at Reuters.com Government Filings News
REFILE-Four private equity firms eye ASE buyout- paper
(Reuters) - New potential buyers are Kohlberg Kravis Roberts , Blackstone, Texas Pacific Group and Goldman Sachs, the Commercial Times said, citing unnamed sources.
ASE, the world's biggest chip packaging and testing firm, said Carlyle's bid did not reflect its value. A company spokesman said it was not now in talks with other private equity firms.
Read more at Reuters.com Mergers News
ASE, the world's biggest chip packaging and testing firm, said Carlyle's bid did not reflect its value. A company spokesman said it was not now in talks with other private equity firms.
Read more at Reuters.com Mergers News
Rakuten says plans to buy additional TBS shares
(Reuters) - TOKYO, April 19 - Japan's Rakuten Inc. said on Thursday it planned to buy more shares in Tokyo Broadcasting System Inc. to push through its long-running merger proposal, but the plan could trigger the broadcaster to implement a planned takeover defence measure.
Negotiations between the two companies on a possible alliance have dragged on for more than a year since Rakuten's failed takeover bid for TBS in 2005. Rakuten, Japan's biggest online shopping mall operator, told TBS in a statement it aimed to hold more than 20 percent of the broadcaster's shares, which could make TBS a Rakuten affiliate.
Read more at Reuters.com Mergers News
Negotiations between the two companies on a possible alliance have dragged on for more than a year since Rakuten's failed takeover bid for TBS in 2005. Rakuten, Japan's biggest online shopping mall operator, told TBS in a statement it aimed to hold more than 20 percent of the broadcaster's shares, which could make TBS a Rakuten affiliate.
Read more at Reuters.com Mergers News
Chicago Wheat Prices Rise to 7-Week High on U.S. Crop Concern; Corn Gains
(Bloomberg) -- Chicago wheat futures rose to a seven-week high on concern about freeze damage to the wheat crop in the U.S., the world's biggest exporter, and strong physical buying from Asia and Africa. Corn and soybean prices also gained.
About 55 percent of the U.S. winter-wheat crop was rated good or excellent as of April 15, down from 64 percent a week earlier, the U.S. Department of Agriculture said this week. Temperatures fell into the upper teens from Kansas to Ohio on April 7. Plants can be damaged if temperatures fall below 24 degrees Fahrenheit (minus 2 Celsius) for more than two hours.
Read more at Bloomberg Commodities News
About 55 percent of the U.S. winter-wheat crop was rated good or excellent as of April 15, down from 64 percent a week earlier, the U.S. Department of Agriculture said this week. Temperatures fell into the upper teens from Kansas to Ohio on April 7. Plants can be damaged if temperatures fall below 24 degrees Fahrenheit (minus 2 Celsius) for more than two hours.
Read more at Bloomberg Commodities News
Asian Currencies: Won Declines as Investors Buy Yen; Taiwan Dollar Climbs
(Bloomberg) -- South Korea's won dropped on speculation investors sold the currency to fund purchases of the yen, which rose to a two-week high against the dollar.
Fund managers have been borrowing yen at Japan's lower interest rates to invest in higher-yielding assets abroad, in so-called carry trades. Speculation the Bank of Japan will raise interest rates may have prompted traders to reverse such investments, requiring them to sell the won.
Read more at Bloomberg Currencies News
Fund managers have been borrowing yen at Japan's lower interest rates to invest in higher-yielding assets abroad, in so-called carry trades. Speculation the Bank of Japan will raise interest rates may have prompted traders to reverse such investments, requiring them to sell the won.
Read more at Bloomberg Currencies News
Logitech shares fall after 2007/8 sales miss target
(Reuters) - "We expect by the second half of the 2007/08 this category can come back to double digit growth," Chief Executive Officer Guerrino De Luca told Reuters in an interview.
By 0805 GMT, shares in the group had fallen more than 7 percent to 31.70 Swiss francs per share.
Read more at Reuters.com Business News
By 0805 GMT, shares in the group had fallen more than 7 percent to 31.70 Swiss francs per share.
Read more at Reuters.com Business News
European Stocks Decline, Paced by BHP Billiton, Rio Tinto; BP Shares Drop
(Bloomberg) -- European stocks headed for the biggest drop in more than a month after China's economy grew faster than economists expected, fueling concern the country is preparing to raise interest rates.
BHP Billiton Ltd. and Rio Tinto Group paced a decline by companies most affected by slowing demand from the world's fastest growing major economy. BP Plc slipped as Merrill Lynch & Co. recommended investors reduce their holdings in the company. Nokia Oyj gained after the average selling price of its mobile phones topped analysts' estimates.
Read more at Bloomberg Stocks News
BHP Billiton Ltd. and Rio Tinto Group paced a decline by companies most affected by slowing demand from the world's fastest growing major economy. BP Plc slipped as Merrill Lynch & Co. recommended investors reduce their holdings in the company. Nokia Oyj gained after the average selling price of its mobile phones topped analysts' estimates.
Read more at Bloomberg Stocks News
Gold off 11-month high as dollar recovers
(Reuters) - Spot gold rose as high as $691.50, surpassing an 11-month high of $691 on April 16, but profit-taking kicked in as the dollar strengthened against the euro , while Japanese gold futures tumbled nearly 1.5 percent due to the yen's broad rally.
But sentiment for gold remained bullish based on expectations that the dollar will stay weak in the long run, with speculative buying in platinum after a planned launch of new exchange-traded funds lending support.
Read more at Reuters.com Hot Stocks News
But sentiment for gold remained bullish based on expectations that the dollar will stay weak in the long run, with speculative buying in platinum after a planned launch of new exchange-traded funds lending support.
Read more at Reuters.com Hot Stocks News
European Stocks Decline, Paced by BHP Billiton, Rio on China Rate Concern
(Bloomberg) -- European stocks dropped, tracking Asian equities lower, on concern China is preparing to raise interest rates to control economic growth.
BHP Billiton Ltd. and Rio Tinto Group paced a decline by companies that generate a high proportion of sales in China. BP Plc slipped as Merrill Lynch & Co. recommended investors reduce their holdings in the company.
Read more at Bloomberg Stocks News
BHP Billiton Ltd. and Rio Tinto Group paced a decline by companies that generate a high proportion of sales in China. BP Plc slipped as Merrill Lynch & Co. recommended investors reduce their holdings in the company.
Read more at Bloomberg Stocks News
China's Economy Surges 11.1 Percent, More Than Expected, Paced by Exports
(Bloomberg) -- China's economy grew at a faster than expected 11.1 percent pace, powered by exports that have inflamed trade tensions and increased the risk of overheating.
Spending on factories and real estate accelerated in the first quarter, the statistics bureau said today in Beijing. The median estimate of 24 economists surveyed by Bloomberg News was for growth of 10.4 percent from a year earlier, the same as in the previous quarter.
Read more at Bloomberg Emerging Markets News
Spending on factories and real estate accelerated in the first quarter, the statistics bureau said today in Beijing. The median estimate of 24 economists surveyed by Bloomberg News was for growth of 10.4 percent from a year earlier, the same as in the previous quarter.
Read more at Bloomberg Emerging Markets News
Pound Declines Below $2 on Concern Gains Too Rapid, Carry Trade Unwinding
(Bloomberg) -- The British pound fell below $2 after pushing above that level on April 17 for the first time in 15 years.
Against the dollar, the pound was trading at $1.9994 as of 7:53 a.m. in London, from $2.0086 late yesterday, when it reached $2.0133, the strongest since June 1981.
Read more at Bloomberg Currencies News
Against the dollar, the pound was trading at $1.9994 as of 7:53 a.m. in London, from $2.0086 late yesterday, when it reached $2.0133, the strongest since June 1981.
Read more at Bloomberg Currencies News
Nikkei down 1.7 pct on higher yen, weak Asia stocks
(Reuters) - Expectations that Japanese companies will present conservative earnings forecasts for the current business year also prompted investor selling.
The Nikkei was down 295.36 points at 17,371.97, its lowest close since April 13. It was the largest daily fall since March 14.
Read more at Reuters.com Hot Stocks News
The Nikkei was down 295.36 points at 17,371.97, its lowest close since April 13. It was the largest daily fall since March 14.
Read more at Reuters.com Hot Stocks News
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