Reuters - JPMorgan Chase & Co , the
third-largest U.S. bank, said on Wednesday quarterly profit
fell 50 percent, hurt by writedowns for leveraged loans and
mortgages and because it set aside more money for loan losses.
Reuters - The number of U.S. housing projects
started last month fell to the lowest in 17 years, while
consumer prices moved up a bit less than expected, leaving the
Federal Reserve some room to lower interest rates to ward off a
housing-led slowdown.
Reuters - The Nasdaq rose 2 percent and other
major indexes extended gains on Wednesday after Intel Corp
, JPMorgan Chase & Co and other blue chips
posted quarterly results that reassured investors after a
string of disappointments last week.
Reuters - Shares in the world's largest beauty
group L'Oreal fell to a 21-month low on Wednesday
after disappointing sales of skin creams and make-up provided
the latest evidence of a sagging U.S. economy.
Reuters - Oil hit a record high near $115 a barrel
on Wednesday after a U.S. government supply report showed an
unexpected drop in crude inventories in the world's top
consumer.
AP - Consumer prices pushed higher last month as increases in energy, food and airline tickets overwhelmed the biggest drop in clothing prices in nearly a decade.
AFP - The Bank of England is finalising plans to help Britain's mortgage market, which has been hit hard by the credit crunch as banks tighten lending criteria, the Financial Times reported Wednesday.
AFP - Britain's biggest retailer Tesco said Tuesday that net profit jumped by around 12 percent in 2007-2008, as it also announced a solid start to its new US business and plans to create 30,000 jobs worldwide.
