7 May, 2015 by The TZ Newswire Staff Comments Off on UK stocks celebrate election results; sterling soars
UK stocks celebrate election results; sterling soars
The U.K.’s FTSE 100 saw stellar gains on Friday morning with risk assets buoyed by the expected results from the country’s parliamentary election.
7 May, 2015 by The TZ Newswire Staff Comments Off on Toyota sees third straight record profit year, U.S. sales boost to offset dip elsewhere
Toyota sees third straight record profit year, U.S. sales boost to offset dip elsewhere
Toyota Motor Corp said it will crank net profit up to a third straight annual record this year, as rising U.S. sales offset weaker business in Asia after last year’s bumper earnings were powered by foreign exchange gains and cost cuts. After net profit jumped 19 percent in the year ended March to 2.17 trillion yen ($18.1 billion), the world’s top-selling automaker said on Friday it expects the profit to rise 3.5 percent this fiscal year to 2.25 trillion yen. Toyota is forecasting operating profit will edge up 1.8 percent this year to 2.80 trillion yen.
7 May, 2015 by The TZ Newswire Staff Comments Off on Troubled Japanese airbag maker Takata sees return to profit
Troubled Japanese airbag maker Takata sees return to profit
Japan’s Takata Corp (7312.T) said it expects to post a return to profit this financial year, although the forecast only made a few provisions for potential costs relating to a massive global recall crisis surrounding its exploding air bags. Around 25 million cars have been recalled worldwide since 2008 over Takata air bag inflators that have erupted with too much force, spraying shrapnel inside the car.
7 May, 2015 by The TZ Newswire Staff Comments Off on Goldman Sachs must face $120 million suit over mortgage securities: court
Goldman Sachs must face $120 million suit over mortgage securities: court
The New York Court of Appeals in a 5-2 decision said the suit by ACA Financial Guaranty Corp (ACAFG.UL) should move forward because the insurer had raised issues about the role of billionaire John Paulson’s hedge fund in a collateralized debt obligation called Abacus. ACA Financial said Goldman had deceived it into believing hedge fund Paulson & Co was a long investor in Abacus when it knew Paulson was betting the underlying mortgages would fail. ACA says it lost approximately $900 million on the deal when the subprime mortgage market collapsed.
7 May, 2015 by The TZ Newswire Staff Comments Off on Currencies: Pound taps $1.55 as Conservatives look set to win U.K. election
Currencies: Pound taps $1.55 as Conservatives look set to win U.K. election
A markets-friendly government was set to resume the helm in the U.K., which triggered sharp gains for the British pound on Friday.
read more
7 May, 2015 by The TZ Newswire Staff Comments Off on UK election: Now what? Scottish surge and ‘Brexit’
UK election: Now what? Scottish surge and ‘Brexit’
7 May, 2015 by The TZ Newswire Staff Comments Off on Russia Offers Help To Greece In German War Reparations Investigation
Russia Offers Help To Greece In German War Reparations Investigation
Just a day after German President Joachim Gauck shocked his government by remarking in an interview that Germany should at least “consider” demands by Prime Minister Alexis Tsipras that the nation pay billions of euros in reparations for the Nazi occupation of Greece, ekathimerini reports that none other than ‘helpful’ Russians are willing to provide assistance in t