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HuaweiLONDON - European shares stayed weaker on Tuesday after steep declines in the previous day as euro zone concerns focused on Spain’s high borrowing costs, poor surveys and Moody’s move to cut Germany’s rating outlook offset positive Chinese manufacturing numbers.
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KUWAIT CITY — National Mobile Telecommunications Co of Kuwait (Wataniya) reported on Tuesday a sharp drop in second quarter and half-year net profit due to increasing competition.
SHANGHAI - China’s yuan touched a near 10-month low on Tuesday morning as it extended its link to the ailing euro, but perked up midday following better-than-expected factory output data.
LONDON - Gold prices retreated in Europe on Tuesday as weaker-than-expected German economic data put fresh pressure on the euro, a day after Moody¡¯s changed its outlook for Europe¡¯s biggest economy to negative.
MUMBAI, India — Wipro’s June quarter profit rose 18 percent from a year earlier but it warned growth will stall as economic uncertainty in Europe and the US, both crucial export markets, hits India’s multibillion dollar outsourcing industry.
BERLIN - The prospect of Europe’s biggest economy losing its cherished AAA credit status has unsettled Germans, already angry about footing the bill for bailouts, and triggered calls for an even tougher stance on Greece and other euro zone laggards.
HONG KONG — Asian markets were mixed on Tuesday after a sell-off the previous day, with Europe’s debt woes casting a shadow but relief provided by news of Chinese manufacturing activity hitting a five-month high.
LONDON — Financial markets steadied Tuesday following the previous days’ turmoil, but fears over a potential bailout of Spain and the future of the euro currency will likely remain the main focus in the coming days and weeks.
Europe’s main stock markets rebounded slightly at the open Tuesday as positive Chinese data helped to offset ratings agency Moody’s shock decision to lower its outlook on Germany, traders said.
The Justice Department’s bankruptcy watchdog agency is fighting a move by Hawker Beechcraft to pay eight senior executives more than $5.3 million in bonuses.
