Citrix Systems Inc. reported a 12 percent jump in second-quarter earnings Wednesday, helped by a 17 percent rise in sales. The company’s profit missed Wall Street expectations, but a stronger-than-expected forecast for this quarter and the full year helped boost Citrix shares in extended trading. The company, which provides software and equipment for streamlining business computer [...]
Steel makers painted a gloomy picture for the short-term prospects of the industry on Tuesday, saying global prices had fallen and industrial demand was not recovering as quickly as expected. The negative outlook from Japan to North America sent steel makers’ shares tumbling. The United States Steel Corporation said it was seeing slower order rates [...]
Cincinnati, along with other American metropolitan areas, must produce more goods and services for global markets for the nation’s prosperity and security, according to a new Brookings Institution report. The report, “Export Nation: How U.S. Metros Lead National Export Growth and Boost Competitiveness,” is a comprehensive analysis of U.S. exports of goods and services produced in [...]
QBE Insurance Group says first-half profit is expected to be down 40 per cent from the same period last year as net investment income took a hit. Shares in QBE slumped 97 cents, or 5.4 per cent to $17.00 by 1106 AEST. That is the lowest since the stock closed at $16.87 on March 13, [...]
US President Barack Obama Tuesday hailed a “breakthrough” in his laborious effort to pass sweeping Wall Street reform, after Democrats apparently lined up the votes to pass the landmark bill. Obama praised three Republican senators for reaching across party lines in the bitterly-divided Senate to give the Democratic leadership sufficient support to advance the measure, his top current [...]
South Korea’s central bank Monday raised its 2010 economic growth forecast to an eight-year high of 5.9 percent, citing robust industrial output, exports and business investment in the first half. The forecast by the Bank of Korea compares to its 5.2 percent estimate in April. The bank now tips Asia’s fourth-largest economy to expand 4.5 [...]
Consumer borrowing fell again in May, more evidence that Americans remain jittery over their finances and the durability of the economic recovery. The Federal Reserve said Thursday that borrowing dropped by $9.1 billion in May. It also said borrowing declined by $14.9 billion in April, revising an initial estimate that showed a gain of $995 [...]
The IMF or International Monetary Fund has upgraded its outlook for 2010?s world economic growth to 4.6%. It said that the economies of China and Japan would grow more than expected. In its quarterly World Economic Outlook announced on Thursday, that the IMF revised its estimate for Japan’s growth increase up to 2.4% from a [...]
The latest headlines point to a widespread expectation of a double-dip recession by later this year. The latest round of worries are focused on potential European debt troubles, soft unemployment numbers and the latest round ofU.S. economic numbers that proved to be disappointing to investors. To give you an idea of the tone of last [...]
Abbott Labs (NYSE: ABT) outbid other drugmakers to purchase Solvay‘s pharmaceuticals business. The American drugmaker clearly saw an opportunity to get full control of cholesterol drugs Tricor and TriLipix, which the companies sold together, as well as a presence in the emerging markets. Solvay’s flu vaccine business, on the other hand, Abbott can live without. The Wall Street Journal reports [...]
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