May 24 2013 19:27 BST Circus ringmaster of the investment worldBill Ackman, the activist hedge fund manager, aimed high when he trained his sights on Bob McDonald. The Procter & Gamble chief executive was a member of the US boardroom elite who headed the largest consumer goods company in the world by sales and sat on numerous other corporate boards.By Dan McCrum and Barney Jopson in New York |
May 21 2013 16:33 BST Move into 'junk' stocks powers bull runA shift into so-called "junk" stocks unloved by investors earlier this year has underpinned the latest leg of the US equity bull market, propelling the S&P 500 into record territory. The best performing US stocks in the current quarter are those that lagged the market from January to March, accordingBy Michael Mackenzie and Arash Massoudi in New York |
May 17 2013 21:30 BST S&P 500 closes week at record highWall Street roared to new heights, notching its fourth consecutive week of gains as investors bid up shares in financial sector stocks. The S&P 500 rose 2 per cent to 1,666.12 for the week, with stocks advancing strongly on Friday. The benchmark closed at a new all-time record high toBy Arash Massoudi in New York |
May 16 2013 22:15 BST JC Penney in $300m loss as sales declineJC Penney made a net loss of more than $300m and continued to lose sales in the past quarter, with its new chief executive pledging on Thursday to stabilise the business and win back lost customers. Mike Ullman, who became chief executive five weeks ago, was brought in to leadBy Barney Jopson in New York |
May 13 2013 18:47 BST US stocks hit new intraday highsUS stocks climbed to new intraday record highs to start the week as stronger-than-expected US retail sales data provided some relief to investors worried over a possible slowdown in the world's largest economy. The S&P 500 rose 0.1 per cent to 1,634.46 just after midday in New York, reaching aBy Arash Massoudi in New York |
May 01 2013 23:48 BST EU considers trade limits on BangladeshThe EU is considering moves against Bangladesh, including restricting trade access to the European single market, in an attempt to press the country to improve its labour practices after last month's deadly factory collapse. Bangladeshi police said on Wednesday that the death toll in the Rana plaza disaster on theBy Peter Spiegel in Brussels, James Wilson in Frankfurt, Barney Jopson in New York and agencies |
Apr 29 2013 21:36 BST S&P 500 closes at fresh all-time highUS stocks set another all-time high on Monday, with shares in Moody's outperforming the broader market after the credit rating agency settled a pair of lawsuits late last week. The S&P 500 rose 0.7 per cent to 1,593.61, with the benchmark eclipsing its record high set earlier this year. TheBy Arash Massoudi in New York |
Apr 29 2013 18:11 BST JC Penney to receive $1.75bn Goldman loanGoldman Sachs is to bolster the balance sheet of JC Penney by giving the troubled US department store group a $1.75bn secured loan as it seeks to recover from a disastrous fall in sales. Confirmation of the loan, which was rumoured last week, came a few days after George Soros,By Barney Jopson in New York |
Apr 26 2013 23:01 BST Wall St finishes week on down noteMixed economic data and company earnings failed to deter investors from pushing share prices higher this week, sending the S&P 500 back towards record territory. The week's gains, however, stalled on Friday after data showed that the economy grew less than expected during the first quarter. Friday ended a runBy Arash Massoudi and Jason Abbruzzese in New York |
Apr 26 2013 16:22 BST Bangladeshi fury rises at slow response to factory disaster rescueThe stench of death and desperation hung around the wreckage of the Rana Plaza garment factory complex on the outskirts of Dhaka on Friday, more than two days after part of the eight-storey building collapsed on the hundreds of workers inside sewing clothes to meet demand from the world's consumers.By Joseph Allchin in Savar, Bangladesh |
