Tuesday, February 05, 2008
Stocks slide as service-sector data signal contraction
Stocks slide as service-sector data signal contraction
U.S. stocks trade sharply lower after the release of service-sector data
signaled contraction in January.
BP boosts dividend as weak refining performance hits profit
Oil giant BP reports weaker-than-expected earnings due to a "very
disappointing" performance from its refining business, though a sharp
increase in dividend payouts helps boost its shares.
Metals Stocks: Gold futures drop sharply on dollar strength
Gold futures drop sharply to trading below $900 an ounce, as a surge in
the U.S. dollar lowered investment demand for the precious metal.
Obama surge heightens Super Tuesday drama
WASHINGTON
An eleventh-hour surge in polls by Sen. Barack Obama over Sen. Hillary
Clinton is shaping up to make "Super Duper Tuesday" a dramatic showdown
between the contenders for the Democratic nomination, while John McCain
is handily leading his Republican rivals in a survey taken before the
24-state contest.
Australia raises interest rate to an 11-year high
The Reserve Bank of Australia raises its benchmark interest rate by a
quarter-percentage point to 7%, the highest level in more than 11 years,
to curb "significant inflation pressures," and keeps alive expectations
of further rate hikes in months ahead.
