Global Investing Roundups

Oil Prices Slide on Demand Drop; Home Prices and Sales Fall in August; Nike Adjusted Earnings Up 10%; GM to Sell Strasbourg Plant; Digg's New Dough; Ad Sales Slump; Yahoo's New Ad Platform; Daimler Trying to Unload Chrysler

  • Oil prices slid back below $106 a barrel yesterday (Wednesday) after the Energy Information Administration said demand for gasoline over the four weeks ended Sept. 19 was 3.5% lower than a year earlier, averaging 9 million barrels a day. Light, sweet crude for November delivery fell 88 cents to settle at $105.73 a barrel on the New York Mercantile Exchange after having risen about $15 in the past week.

  • Prices of existing homes fell by record amounts in August and the rate of sales tumbled the National Association of Realtors said yesterday (Wednesday).  The pace of existing home sales decreased 2.2% to an annual pace of 4.91 million units while the median national home price declined a record 9.5% to $203,100, the group said.

  • Nike Inc. (NKE) said yesterday (Wednesday) that it posted a 10% rise in adjusted first-quarter earnings. First-quarter net profit was $510.5 million, or $1.03 per share, down from $569.7 million, or $1.12 per share, a year earlier. But that was largely due to a  $105.4 million tax benefit in 2007. Revenue rose 17% to $5.4 billion in the quarter.


  • Overall ad spending was down 1.6% in the first-half of 2008, according to a recent study from TNS, a division of Taylor Nelson Sofres PLC (PINK: TYNLF) that tracks ad spending across 20 media segments, Forbes reported. Second-half results could be higher due to the media blitz surrounding the Summer Olympics.