Back On Dec 4, 2006 The Banking Sector Was Doing Fine. Posted By : Murray Nickel
When I wrote the article "Is Banking Tanking?" in early December last year, the banking sector was rallying like every other sector. Well, almost. The only cloud on the horizon: it had gone from a leading sector to a laggard sector since the June 2006 low.
Core inflation rose 0.1 percent in June
WASHINGTON (Reuters) - Core consumer prices rose a less-than-expected 0.1 percent in June, showing stable prices that have eased the year-on-year rate of nonfood, nonenergy inflation to 1.9 percent, the lowest in more than three years, the Commerce Department said on Tuesday.
Futures surge on earnings view; GM rises
NEW YORK (Reuters) - Stock index futures rose on Tuesday after General Motors Corp. further bolstered confidence about corporate earnings and a key inflation indicator showed a smaller-than-expected gain in core consumer prices.
GM trounces estimates
DETROIT (Reuters) - General Motors Corp on Tuesday said it flipped to a net profit, trouncing Wall Street estimates as it benefited from cost-cutting, a better mix of products and growing sales overseas.
J&J to cut jobs in restructuring
NEW YORK (Reuters) - Johnson & Johnson said on Tuesday it planned to eliminate 3 percent to 4 percent of its global work force of about 120,500 people as part of a plan to improve its cost structure.
Bancrofts, News Corp. wrangle over Dow Jones price
NEW YORK (Reuters) - Rupert Murdoch's News Corp. appeared to be inching closer to a deal to buy Dow Jones & Co. Inc. and gaining enough support from the divided Bancroft family, but both sides were still wrangling over the price.
CBS quarterly earnings drop but beat forecasts
NEW YORK (Reuters) - CBS Corp on Tuesday said second-quarter earnings fell sharply from a year ago, when it was helped by a tax benefit and the sale of its Paramount Parks, but still beat expectations on stronger results from its publishing and outdoor divisions.
Nike to pay $7.6 mln to settle suit
NEW YORK (Reuters) - Nike Inc. has agreed to pay $7.6 million to settle a class-action suit that alleged the sportswear maker discriminated against black employees at its Niketown store in Chicago, according to court documents.
Price pressures, merger costs hit Alcatel-Lucent
PARIS (Reuters) - Telecoms equipment maker Alcatel-Lucent produced a bigger-than-expected quarterly loss on Tuesday as pricing pressures and merger costs bit, sending its shares down 8 percent.
Alcan profit slips on strong Canada dollar effect
MONTREAL (Reuters) - Alcan Inc. , the target of a $38.1 billion takeover by Rio Tinto Plc , said on Tuesday its quarterly profit fell 2.5 percent, largely on costs stemming from a stronger Canadian dollar.
Whole Foods to court to defend Wild Oats takeover
WASHINGTON (Reuters) - Whole Foods Market Inc. and rival Wild Oats Markets Inc. head to court on Tuesday, hoping to convince a federal judge to allow their proposed merger to proceed over the objections of U.S. antitrust authorities.
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