Diane Alter – AHN News Reporter
New York, NY, United States (AHN) – The Dow Jones Industrial Average soared nearly 200 points in mid-afternoon trading Wednesday as investors applauded Europe’s plan to recapitalize banks and stem the euro region’s blooming debt crisis. The S&P 500 Index climbed 1.7 percent, reaching its highest level since Aug. 31. Just a few weeks ago the index was flirting with bear territory. The NASDAQ jumped 37 points. Leading markets higher were Wells Fargo, Citigroup, Sears Holdings Corp., Dow Chemical Co. and Caterpillar. PepsiCo, the world’s largest snack food maker, rose 3.9 percent as profits and revenues beat forecasts. Minutes of the Federal Reserve’s latest meeting released Wednesday revealed that some Fed [...] Continue Reading…
Dow erases 2011 declines Wednesday on Europe’s debt plans
Three American tech firms joint venture to rival Google’s mobile phone payment service
Vittorio Hernandez – AHN News
Dallas, TX, United States (AHN) – Three major American technology firms have set up a joint venture to rival the mobile phone payment service of Google. AT&T, Verizon and T-Mobile invested over $100 million in Isis to gain a slice of the mobile commerce market, expected to top $670 billion by 2015. Google rolled out its mobile wallet service in May to profit from the shifting consumer behavior of transacting using their cellphones. This year alone, payments coursed through handheld units are expected to reach $240 billion across the globe and the amount is expected to rise two to three-fold within the next five years. Reports said that AT&T, Verizon and T-Mobile [...] Continue Reading…
Gulf markets worry about oil outlook
The Media Line Staff
Jerusalem, Israel David Rosenberg – Fear that the days of global economic recovery and rising oil prices may fast be fading has sent shivers through Gulf stock markets. Those worries reduced the market capitalization of the Saudi Stock Exchange, or Tadawul, by around $11 billion in the first half of August to $326 billion. Elsewhere around the Gulf, the Dubai Financial Market’s main index has shed close to 5 percent in the last two weeks while Kuwait’s index reached a seven-year low on Sunday. Many investors fear it may 2008 all over again. That was the year the U.S. housing market went under in a sea of mortgage debt, bringing oil prices to as [...] Continue Reading…
Adam Scott dominates at WGC Bridgestone, gets Tiger-like victory
Tom Edrington – AHN Sports Reporter
Akron, OH, United States (AHN Sports) – Adam Scott has Tiger Woods’ old swing. He has Tiger Woods’ old caddy and on Sunday, he dominated the way Tiger Woods used to at the Firestone Country Club. Scott got his eight PGA Tour victory in convincing manner at the WGC Bridgestone championship with four back nine birdies that simply blew away his competition, pretty much the way Woods used to when he won seven times here. “I was on. I felt good,” Scott said as he closed with a five-under par 65 and a 17-under par 263 total. “I stayed patient and picked my moments. I’m stoked!” Scott stayed steady on the [...] Continue Reading…
Dunkin’ Brands IPO boasts 40 percent surge
Ayinde O. Chase – AHN News Staff
New York, NY, United States (AHN) – Shares of Dunkin’ Brands Group are up nearly $8 or 44 percent beyond their initial public offering price of $19 per share. By 3 p.m., shares were being traded on the NASDAQ at $27.34. The company announced an initial public offering of 22.2 million shares and garnered financial headlines. The deal raised gross proceeds of $427.5 million. The Canton-based company plans to use the money from its IPO to repay debt accumulated under the ownership of private-equity firms Bain Capital LLC, Carlyle Group and Thomas H. Lee Partners LP. Based on regulatory filing paperwork, the firms paid about $2.43 billion for the company [...] Continue Reading…
Casey Anthony release delayed until July 17
Linda Young – AHN News Writer
Orlando, FL, United States (AHN) – Casey Anthony will have to wait until Sunday, July 17, to receive her freedom after jail officials recalculated time off her sentence for good behavior. The court originally scheduled her release for next Wednesday. Judge Belvin Perry on Thursday sentenced her to the maximum of four years and $4,000 in fines on four counts of lying to law enforcement for which the jury had found her guilty on Tuesday. That was one year in jail and a $1,000 fine for each of the four counts. He ordered that the sentences run consecutively on each count, but he allowed credit for time served. Anthony, 25, has [...] Continue Reading…
S&P equates delayed Greek debt payment to default
Vittorio Hernandez – AHN News
Athens, Greece (AHN) – Even if the Greek parliament had passed last week two austerity program legislations that paves the way for the release of the country’s second tranche of loan from the European Union and the International Monetary Fund, a ratings agency is still wary of a Greek debt crisis. Standard & Poor’s warned on Monday that a proposal to restructure Athens’ debt, which would lead to a delay in payment, is equal to a default. S&P was reacting to an agreement in principle by German and French banks to roll over loans to Greece to give the financially challenged government sufficient time to repay its debts. The roll over would [...] Continue Reading…
