Welcome to
the Reuters Before the Bell news mail.
A small
explosion at a military recruiting center in Times
Square isn't fazing Wall Street, which is busy trying to
decide whether to focus on yesterday's news about
Thornburg Mortgage's material defaults or Wal-Mart's
report this morning of stronger-than-expected same-store
sales. Stock futures are pointing sideways.
News
of the blast, which caused minor damage but is under
investigation by the Homeland Security Department, did
push the dollar to record lows against the Swiss franc,
and it's still down against that currency, the euro and
the yen.
The weak dollar has helped extend oil's
rally on lower U.S. inventories and OPEC's decision to
keep output unchanged. U.S. crude hit a record of nearly
$106 a barrel and is still above $105.
Gold also
hit a record and is still in sight of the magic
milestone of $1,000 an ounce. U.S. Treasuries are mostly
higher.
On the data front, pending home sales
are due soon after the opening bell. And the Fed's
Consumer Advisory Council is holding its first meeting
of the year on proposed rules to establish regulatory
protections in the residential mortgage market.
Also on tap are speeches from three Fed
officials, including two - count 'em, two - appearances
by the president of the Boston branch.
More on
default notices: A Dutch-listed affiliate of private
equity firm Carlyle Group says it got one after it
wasn't able to meet some margin calls.
There's
probably no love lost between Southwest Airlines and the
Federal Aviation Administration. The Wall Street Journal
says the agency is seeking a fine against the carrier
with the ticker symbol "LUV" for failing to properly
inspect more than 40 older planes.
Ford may have
lost $2.7 billion last year, but its employees -
including the hourly ones - are still getting bonuses
because of the progress the company has made on its
turnaround.
Until tomorrow,
Lisa Von Ahn
News Mail Editor
|  |
|
Futures slip after mortgage lender
defaults
March
06, 2008 07:46 AM ET
 |
NEW
YORK (Reuters) - U.S. stock futures dipped on Thursday
as the financial sector was hit by yet another blow with
news of a default at Thornburg Mortgage Inc , but
stronger-than-expected sales at Wal-Mart Stores Inc
could offset losses.
Full
Article | |
|
UPDATE 1-Wal-Mart February same-store sales
up 2.6 pct
March
06, 2008 07:38 AM ET
 |
NEW
YORK, March 6 (Reuters) - Wal-Mart Stores Inc on
Thursday reported a better-than-expected 2.6 percent
rise inFebruary sales at U.S. stores open at least a
year, due tostrong sales of groceries, medicines and
electronics.
Full
Article | |
|
Carlyle unit fails to meet some margin
calls
March
06, 2008 07:22 AM ET
|
AMSTERDAM/LONDON
(Reuters) - A Dutch-listed affiliate of private equity
firm Carlyle Group has not been able to meet some margin
calls and has received a notice of default, it said on
Thursday.
Full
Article | |
|
H&R Block posts third-quarter
loss
March
06, 2008 04:11 AM ET
 |
NEW
YORK (Reuters) - H&R Block Inc , the tax preparer
trying to recover from losses at a subprime mortgage
unit, posted a quarterly loss on Wednesday, due to
discontinued operations and staff reduction
expenses.
Full
Article | |
|
UBS shares sink anew on writedown
fears
March
06, 2008 07:34 AM ET
 |
ZURICH
(Reuters) - Swiss bank UBS AG came under renewed
pressure on Thursday due to speculation it had sold a
huge portfolio of risky mortgages at a deep discount and
that the scale of its subprime losses was rapidly
mounting.
Full
Article | |
|
Citigroup made no approach for capital:
Dubai
March
06, 2008 07:49 AM ET
 |
DUBAI
(Reuters) - Citigroup Inc has not made any approach to
Dubai International Capital (DIC) seeking funds, the
investment agency owned by the ruler of the Gulf Arab
emirate said in a statement on Thursday.
Full
Article | |
|
ECB holds rates, seen forecasting lower
growth
March
06, 2008 07:54 AM ET
 |
FRANKFURT
(Reuters) - The European Central Bank kept euro zone
interest rates unchanged at 4.0 percent on Thursday, and
will publish updated economic forecasts which analysts
will scrutinize for guidance on future monetary
policy.
Full
Article | |
|
UPDATE 3-D.Post pledges solutions soon for
U.S., Postbank
March
06, 2008 07:34 AM ET
|
BONN,
March 6 (Reuters) - German mail and logistics
groupDeutsche Post underlined its pledge to raise
profitsthis year and next and said it was close to a
solution for itsloss-making DHL express delivery unit in
the United States.
Full
Article | |
|
EU set to clear Google/DoubleClick merger:
sources
March
06, 2008 06:10 AM ET
 |
BRUSSELS
(Reuters) - Google is expected to receive unconditional
approval from European Union regulators next week for
its $3.1 billion takeover of ad firm DoubleClick, people
familiar with the situation said.
Full
Article | |
|
Merrill quits subprime lending, cuts 650
jobs
March
06, 2008 04:10 AM ET
|
NEW
YORK (Reuters) - Merrill Lynch & Co on Wednesday
said it will eliminate 650 jobs as it stops making
subprime mortgages through its First Franklin Financial
Corp unit.
Full
ArticleBACK to margotbworldnews.com | |
| |
|
| |
