By Jason Simpkins Staff Writer With worries mounting that the global credit crunch will squeeze the worldwide demand for petroleum-based products, oil prices dropped below the $81 a barrel level yesterday (Monday), according to The Associated Press. Light, sweet crude for November delivery fell 44 cents to $80.78 a barrel in Asian electronic trading on […]
Category
Top News
Microsoft Eyeing GPS-Maker Garmin, Analyst Reports
From Staff Reports Shares of Garmin Ltd. (GRMN), the biggest U.S. maker of portable navigation devices, jumped by nearly 4.6% yesterday (Monday) on speculation that it is a buyout target of Microsoft Corp. (MSFT) – and after an analyst boosted his rating on the stock. Garmin's shares closed yesterday at $108.46, a jump of 4.58%, […]
China's Weeklong Shopping Holiday Breaks (Yet Another) Retail Sales Record
From Staff Reports Retail sales during China's weeklong National Day holiday surged almost 350 billion yuan (about $46.7 billion), a 16% increase in consumer spending compared to last year's week of celebration, its Ministry of Commerce reported on Sunday. During the week, Beijing hosted 5.94 million visitors, up 3.5% from last year. In the modern, […]
Vietnam's GNP Grows 8.16% After First Three Quarters of 2007
By Mike Caggeso Staff Writer Vietnam's economy has grown 8.16% in the first nine months of 2007, its best economic performance in 10 years, according to that country's General Statistic Office. At its current pace, it will hit its 2007 growth target of 8.2% to 8.5%, the China Post reported. Last year, its overall GNP […]
Goldman Sachs Moves into Japan Property Market
From Staff Reports Goldman Sachs Group Inc. (GS) has its sights set on Japan. Goldman and New York-based Aetos Capital LLC have joined forces and are looking to buy Japanese property company Simplex Investment Advisors for the equivalent of about $1.1 billion to $1.35 billion – a premium of about 65%. The bid is for […]
Analysts Unhappy with Internal Inventory Audit Report From China's LDK Solar
From Staff Reports Shares of high-flying LDK Solar Co. Ltd. (LDK) fell yesterday (Thursday), even after the Chinese solar wafer maker said an internal audit revealed no evidence of wrongdoing related to the way it reports inventory. Early Thursday, LDK said it conducted an investigation after its former financial controller, Charley Situ, said the company […]
Garmin Shares Rebound After Analyst Says Fears of Nokia-Navteq Are Overblown
From Staff Reports Shares of personal navigation device maker Garmin Ltd. (GRMN) bounced back after a rocky two days Thursday, after a Deutsche Bank AG (DB) analyst said the sale of Navteq Corp. (NVT), which provides Garmin with map data, is not a threat to Garmin's business. The analyst, Jonathan Goldberg, maintained his "Buy" rating […]
China-America Joint Venture Warms Otherwise Frosty Relations
By Jason Simpkins Staff Writer What's in a name? For HuaMei Capital Co., it's a history-making example of how U.S. and China entrepreneurs can work together and profit. Investors from the two countries on Wednesday unveiled HuaMei, Mandarin Chinese for "China-America." But company officials promise that HuaMei will be more than a catchy name, or […]
Airbus and Parent EADS Experience Turbulence Over Insider Trading Scandal
By Jason Simpkins Staff Writer A lengthy investigation by French regulators suggests that "massive insider trading" took place at Airbus SAS parent EADS, the Associated Press reported yesterday (Wednesday). Louis Gallois, EADS Chief Executive, pointed out that the findings were preliminary. But if confirmed, it would be a devastating blow to both EADS and Airbus, […]
Savaged Garmin Battles Back With Cell Phone Navigation Software
From Staff Reports In one of those ultimate business ironies, just days after its shares were pounded by investors over fears it would flounder because of competition from "smart" cell phones, GPS-maker Garmin Ltd. (GRMN) yesterday (Wednesday) introduced a $99 software package that turns "smart" wireless phones into high-end navigation units. The shares of the […]