Business and Finance News

Freddie Mac to float new share offering
Sudan News.Net
Mortgage finance giant Freddie Mac has announced that it will raise US$5.5 billion through a new share offering.
Middle-east funds enjoy London listings
Sudan News.Net
With Kuwaiti private equity fund MENA becoming the latest Middle East company to list on the London Stock Exchange, London is emerging as the market of choice for companies from the region.
Cuba to allow more private farm land
Sudan News.Net
Cuban President Raul Castro has announced further economic reforms.
Cereal production increases in 2008
Sudan News.Net
An estimated 2.8 percent increase in world cereal production in 2008 over the past year should contribute to some improvement in the global supply and demand situation, a UN agency said Friday.
Japanese bosses overwork staff to death
Sudan News.Net
Corporate bosses in Japan are under the spotlight after the death of an employee due to overwork.
Parliament stops Ghana phone deal
Sudan News.Net
Ghana’s parliamentary opposition has blocked the sale of a majority stake in state-owned Ghana Telecom to Britain's Vodafone.
Citigroup posts US$2.5 bil. loss as loan defaults mount
The China Post
... second quarter as it struggled with surging loan defaults.The nation's biggest banking company by assets reported Friday it lost US$2.5 billion, or 54 cents per share, in the April-June period. In...
Egypt buys bulk wheat at differing prices
Sudan News.Net
Egypt has bought 145,000 tonnes of wheat for August delivery at prices between US $321 per tonne to US$337 per tonne.
Alistair Darling says there is no more in the government pot
Sudan News.Net
UK finance minister Alistair Darling has said in an interview there is no extra money available for public spending.
US stocks end six-week losing streak despite gloomy predictions
Sudan News.Net
US stocks defied a week of gloomy predictions and controversial financial decisions by US officials, bouncing back by Friday after a slump Monday and Tuesday.
Argentina drops tax plan
Sudan News.Net
Argentinian President Cristina Fernandez has dropped a plan to raise taxes on farm exports.
Wall Street mixed after earnings reports
San Diego Union-Tribune
NEW YORK – Wall Street closed out an impressive week with a mixed performance Friday after disappointing high-tech earnings punctured some of investors' enthusiasm over better-than-expected...
Public Silence Greets Wall St. Blunders
Newser
... but public anger seems strangely dormant. Populist politicians railed against Wall Street during past financial crises, Grant notes, but today's politicians appear largely uninterested in taking...
Citigroup tonic gives strength to dollar
Gulf News
With rising oil prices hurting US growth, there was little incentive seen to buy dollars. Concerns about the US economy and financial sector overshadowed a series-low reading of the German ZEW...
Major Investor Backs Yahoo in Microsoft Fight
RedOrbit
Posted on: Saturday, 19 09:05 CDT A new actor took center stage Friday in one of the most unusual takeover dramas in Silicon Valley history with a message for Microsoft: Show me the...
Congress could take steps to ease gas prices
San Diego Union-Tribune
CRAWFORD, Texas – Responding to Americans' anger over gas prices and the housing bust, President Bush is stepping up pressure on Congress to open up offshore oil exploration and work to restore...
Dream of gas tax holiday faltered over job losses
San Diego Union-Tribune
WASHINGTON – The political vision of a summer gas tax holiday died a quick death in Congress, losing to a view that federal excise taxes on gasoline and diesel fuel will have to go up if they...
Salmonella scare damages industry
San Diego Union-Tribune
RICHMOND, Va. – The 6,000 acres of tomatoes grown on Virginia's sea-swept Eastern Shore were never implicated in the national salmonella outbreak – they were still on the vine weeks after...
House prices could fall for two years-Citigroup
San Diego Union-Tribune
LONDON – Citigroup chief Win Bischoff has warned that house prices in Britain and the United States are likely to keep falling for two years. The chairman of one of the world's most powerful...
Wall Street still hesitant to jump back into badly beaten bank stocks
Canadian Business
Joe Bel Bruno 2008 - 01:59 a.m. Merrill Lynch & Co. Chief Executive John Thain is making a pitch to Wall Street: Buy the brokerage's shares while they're...
Weak U.S. dollar should boost Big Pharma earnings
Market Watch
Major pharmaceutical companies are expected to roll out higher second-quarter earnings reports next week, helped partly by strong overseas sales stoked by a weak U.S. dollar.
Bank of America heads parade firms aiming to show turnaround
Market Watch
... tops the list of major U.S. financial firms reporting earnings next week, and investors will be looking to see if the nation's second-largest bank continues a cheerier trend started by rivals...
Stocks face heavy earnings week with new hope
Market Watch
Investors will start next week -- one of the most loaded of the second-quarter earnings season -- hopeful that a nascent positive tone on Wall Street will continue to lift stocks. Crude oil prices...

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