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Sector Scan: Auto, Retail and Airlines Sector in Red
Publish Date : 6/6/2011 10:55:00 AM
After disappointing sales figure for May by major automakers on Friday, the automobile sector was trading in red. May sales dropped 3.7 percent compared with the same month last year, the first monthly decline of this year and a sign that the industry and the overall economy might be slowing.
IMF Cuts UK Forecast, Backs UK’s Spending Cuts
Publish Date : 6/6/2011 10:06:00 AM
The International Monetary Fund on Monday cut its forecast for the UK economy in 2011 and said that the UK government should stick to its “essential” plans to cut its budget deficit.
LaSalle Hotel to Acquire Park Central Hotel for $405.5 Million
Publish Date : 6/6/2011 9:15:00 AM
LaSalle Hotel Properties (NYSE: LHO) said Monday that it has signed a Purchase and Sale Agreement to acquire The Park Central Hotel in New York City, a 934-room hotel for $405.5 million.
Beijing’s Newspaper Warns Google, May Pay Price for Hacking Claims
Publish Date : 6/6/2011 7:43:00 AM
In the overseas edition of People’s Daily, the leading newspaper of China’s ruling Communist Party, issued a tough warning to Google Inc. (Nasdaq: GOOG) over Google’s statement about hacking attacks traced to China, indicating political tensions between the United States and China over internet security.
IATA: World Airline Profit to Plunge this Year
Publish Date : 6/6/2011 7:00:00 AM
The International Air Transport Association (IATA) has cut its 2011 airline-industry profit forecast to $40 billion. This cut in forecast represents a 54 percent fall compared with the $8.6 billion forecast in March and 78 percent drop compared with the $18 billion net profit forecast recorded in 2010.
Goldman Could Release Papers to Counter Report
Publish Date : 6/6/2011 6:38:00 AM
Goldman Sachs Group Inc. (NYSE: GS) could release the papers to counter the allegations by a Senate subcommittee report that said that the bank misled the clients about mortgage-linked securities, the Wall Street Journal reported, citing people familiar with the matter.
Plosser Worried Over Fed’s Ability to Keep Prices Stable
Publish Date : 6/6/2011 6:24:00 AM
Charles Plosser, the president of Philadelphia Federal Reserve Bank, said on Monday told a conference in Helsinki, that the American public’s swing from deflation to inflation worries in the past one year is troubling as it suggests potential doubts over Federal Reserve’s ability to keep the prices stable.
Apple’s Jobs to Unveil iCloud Storage Service
Publish Date : 6/6/2011 5:42:00 AM
Apple Inc. (Nasdaq: AAPL) Chief Executive Steve Jobs is set to take the stage at San Francisco’s Moscone center to unveil a new way to access digital songs and information on smartphones and computers, called iCloud.
Moody’s Warns of US Debt Rating Cut
Publish Date : 6/3/2011 11:49:00 AM
The Moody’s Investor Services said Thursday that it might review the government’s coveted top-notch credit rating for a possible downgrade if Washington does not make any progress by mi-July in talks to raise the borrowing limit and cut deficits.
NMI Index Grows to 54.6 Percent
Publish Date : 6/3/2011 11:00:00 AM
According to the institute of supply management report on business, economic activity in non-manufacturing sector was registered at 54.6 percent for the month of May, an increase of 1.8 percent from the previous month’s reported figure of 52.8 percent, indicating continued growth at a faster rate in the non-manufacturing sector.

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