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Breaking pre-market news on Friday,
- News Corporation files Form 8k to the SEC – statement.
- Smiths News expects “significant buyer substitution” to mitigate impact of News of the World closure – statement.
Upbeat start to US earnings season
Corporate America issued a string of quarterly earnings results on Tuesday that exceeded Wall Street’s expectations and showed how big US companies have cut costs faster than revenues have fallen. But stocks fell back as investors focused on the lack of top-line improvement.
US earnings blunt recovery hopes
A raft of US companies reported earnings on Tuesday with results that showed how difficult the 2009 first quarter has been for sectors ranging from financials to industrials. In banking, while changes in accounting rules helped boost earnings at large US banks such as Citigroup and Bank of America,
Companies cut 76,000 jobs in a day
Corporate bellwethers in the US and Europe slashed more than 76,000 jobs from their payrolls on Monday. US corporate groups such as Caterpillar, General Motors, Sprint Nextel, Texas Instruments, and Home Depot led the retreat,
Job cuts – the details
Caterpillar, the world’s largest maker of construction equipment, said it would cut 20,000 jobs as it reported an annual fall of more than 32% in Q4 profits – a month after slashing executive salaries and jobs at large plants.