Markets News

Alzheimer’s drug fails in 1 study, 2nd continues

A closely watched experimental Alzheimer’s treatment has failed to slow the disease in one late-stage study, a big disappointment for doctors and patients but not the end of the road for the drug.

Market Dollar Rates at 2000 GMT

Following are the middle exchange rates for leading currencies against the dollar:

40 India nuclear plant workers contaminated: firm

More than 40 workers at a nuclear power station in northern India have been exposed to tritium radiation in two separate leaks in the past five weeks, company managers said on Tuesday.

Britain’s FTSE steadies on China data

Britain’s benchmark share index steadied on Tuesday after stinging losses in the previous session as positive Chinese economic data helped offset persistent concerns over the euro zone sovereign crisis.

Europe shares briefly turn negative in choppy trade

European shares briefly turned negative in choppy trade on Tuesday as euro zone concerns, focused on Spain’s high borrowing costs and a lowering of the credit outlook for Germany late Monday by Moody’s, offset positive Chinese manufacturing data.

Germany faces ratings downgrade as Spain tensions mount

Top rated Germany, Europe’s paymaster, faced the prospect Tuesday of a damaging downgrade as Moody’s warned that problems in Spain and Italy made the euro zone debt crisis even more dangerous.

Swedish truckmaker Volvo sees Q2 profits fall

Swedish truckmaker AB Volvo on Tuesday saw its second-quarter net profits fall by nearly 5 percent, mainly on the back of a fall in sales in Brazil and Europe and higher investment costs related to future products.

Malaysian tycoon seeks $300 million dispute payout

Malaysian tycoon Ananda Krishnan on Tuesday called on Singapore’s high court to enforce an arbitration centre order for his former Indonesian business partner James Riady to pay out $300 million.

Hong Kong shares close down 0.8 pct at lowest in a month

Hong Kong shares produced a second-straight loss on Tuesday, dragged lower by a 4 percent loss for CNOOC after the Chinese oil giant announced plans to acquire Canadian oil producer Nexen Inc for $15.1 billion.

McDonald’s net income goes down

McDonald’s Corp. reported Monday a four-percent year-over-year profit decline for the 2012 second quarter as a higher US dollar and slowing global economy affected company performance.