Daily Data Flow
Daily Data Flow: Could Citigroup Shakeup Aid Bank’s Rebound?; U.S. Government-Funded Maker of Electric Car Batteries Goes Bankrupt; Tonight’s Debate Gives Obama New Chance to Defend Policies in Rematch with Romney
Citigroup Board Said to Oust Pandit After Multiple Setbacks (Bloomberg) Citigroup Inc. directors ousted Chief Executive Officer Vikram Pandit after concluding he mismanaged operations that caused setbacks with regulators and cost credibility with investors, a person with knowledge of the discussions said. Citgroup turned to Citigroup veteran Michael Corbat to fill the void. Problems with […]
Daily Data Flow: U.S. Stocks Rise; Softbank Buys Sprint; Skilled-Worker Shortage Exaggerated
U.S. stocks rose, as the Standard & Poor’s 500 Index (SPX) rebounded from its biggest weekly drop in four months, after American retail sales and Citigroup (C) Inc.’s earnings topped estimates.
Daily Data Flow: U.S. Government Reports Fourth-Largest Deficit Since World War II; S&P 500 Endures Biggest One-Week Drop in Four Months
U.S. Posts Fourth-Largest Budget Deficit Since WWII (Bloomberg) The U.S. government budget deficit for the fiscal year ended in September was the fourth-largest since World War II as lawmakers debate the impact of the looming spending cuts less than one month before the presidential election on Tuesday, Nov. 6. The shortfall registered $1.09 trillion in […]
Daily Data Flow: Four Private Equity Giants Accused of Collusion; Investors Pull $10 Billion from Stock Mutual Funds in One Week; S&P 500 Averts Fifth Straight Day of Losses
Top executives at buyout firms including Blackstone Group LP, KKR & Co., Bain Capital Partners LLC and Carlyle Group LP assured each other in e-mails that they would not compete on deals to avoid driving up prices and angering competitors, according to a now public court complaint.
Daily Data Flow: Stocks Fall as Corporate Earnings Outlook Dims; JP Morgan’s Jamie Dimon Blasts White House and Congress; U.S. Economic Growth Remains Weak
U.S. stocks extended losses as the Standard & Poor’s 500 Index to a fourth day. “The fear is that this is going to be a really bad earnings season,” said Hank Smith, chief investment officer at Haverford Trust Co. in Radnor, Pa.. Alcoa (AA), the first member of the Dow Industrial Average to announce results, lost 4.6% to $8.71. The company cut its forecast for growth in aluminum consumption this year to 6%, down from 7%, as demand from China weakens.
Daily Data Flow: Europe’s Aid Package for Fiscally Strapped Nations Could Help Investors; Could Apple Be Turning Sour?; Corruption May Be Siphoning off Italy’s European Aid Money
European governments set up a full- time 500 billion-euro ($648 billion) fund to aid debt-swamped countries and expressed confidence that the financial muscle won’t be needed anytime soon. Finance ministers from the 17 euro countries declared the European Stability Mechanism (ESM) operational.