| Brazil's Bovespa Falls on Rate, Credit Concerns: Latin Stocks
July 26 (Bloomberg) -- Brazilian stocks fell, sending the main stocks index to a one-month low, led by commodity producers and banks, after the central bank signaled it may slow the pace of interest rate cuts, curbing economic growth. The Bovespa Index of the most-traded stocks on the Sao Paulo exchange fell 2108.15, or 3.8 percent, to 53,893.15, erasing gains since June 26. The slide was part of a worldwide equities rout spurred by credit quality concerns in the U.S. The Morgan Stanley Capital International index of Latin American shares fell 5.2 percent, the biggest drop since Feb. 27. In Brazil, the central bank said in minutes of its July 18 meeting that it will be ``especially vigilant'' for signs of a pick-up in inflation as domestic demand is rising faster and the effects of interest rate cuts have yet to filter into the economy.
ICICI Bank's Profit Rises 25 Percent on Loans, Fees (Update2)
July 21 (Bloomberg) -- ICICI Bank Ltd., India's second- biggest bank by assets, said first-quarter profit rose 25 percent as increasing interest rates failed to deter borrowings and the lender earned more from fee income and international operations. Net income in the three months ended June 30 rose to 7.75 billion rupees ($192 million) from 6.2 billion in the same period a year earlier, the bank, which completed India's biggest share sale last month, said today in an e-mailed statement from Mumbai. That was higher than a 7.49 billion rupee median estimate of five analysts surveyed by Bloomberg News. ``The bank has shown good profit growth based on a rise in fee income,'' said R.K. Gupta, who manages 3.5 billion rupees at Credit Capital Asset Management in New Delhi.
Magna Entertainment Corp. announces results for the second quarter ended June 30, 2007, Strategic Review of Assets and ...
AURORA, ON, Aug. 9 /PRNewswire-FirstCall/ - Magna Entertainment Corp. ("MEC") (NASDAQ: MECA; TSX: MEC.A) today reported its financial results for the second quarter ended June 30, 2007. ------------------------------------------------------------------------- Three Months Ended Six Months Ended June 30, June 30, --------------------- --------------------- 2007 2006 2007 2006 ---------- ---------- ---------- ---------- (unaudited) Revenues(i) $ 203,063 $ 179,716 $ 487,237 $ 457,242 Earnings before interest, taxes, depreciation and amortization ("EBITDA")(i) $ 3,459 $ 1,295 $ 27,675 $ 26,295 Net income (loss) Loss from continuing operations $ (23,437) $ (27,331) $ (20,968) $ (24,983) Income from discontinued operations(ii) - 993 - 857 ------------------------------------------------------------------------- Net loss $ (23,437) $ (26,338) $ (20,968) $ (24,126) ------------------------------------------------------------------------- Diluted earnings (loss) per share Continuing operations $ (0.22) $ (0.26) $ (0.19) $ (0.23) Discontinued operations(ii) - 0.01 - 0.01 ------------------------------------------------------------------------- Total diluted loss per share $ (0.22) $ (0.25) $ (0.19) $ (0.22) ------------------------------------------------------------------------- (i) Revenues and EBITDA for all periods presented are from continuing operations only.
Cooper Tire & Rubber Company Announces Authorization to Repurchase Debt
FINDLAY, Ohio, Aug. 6 /PRNewswire-FirstCall/ -- Cooper Tire&Rubber Company (Nachrichten) announced today that its Board of Directors, at their Aug. 3 meeting, authorized the repurchase of up to $200 million of the Company's publicly traded notes.
The repurchase of debt may be accomplished through open market transactions, a tender offer, or a combination of the two.
(Logo: http://www.newscom.com/cgi-bin/prnh/20010404/COOPERLOGO ) Company Description
Cooper Tire&Rubber Company is a global company that specializes in the design, manufacture, marketing and sales of passenger car, light truck, medium truck tires and subsidiaries that specialize in motorcycle and racing tires, as well as tread rubber and related equipment for the retread industry. With headquarters in Findlay, Ohio, Cooper Tire has 63 manufacturing, sales, distribution, technical and design facilities within its family of companies located around the world.
Brown puts stamp on US relations as he signals British pull-out from Iraq
GORDON Brown, the Prime Minister, yesterday put President George W Bush on notice that Britain will pull its troops out of Iraq, as he sought to put his own stamp on trans-Atlantic relations. In their first formal talks, Mr Brown and Mr Bush renewed pledges to fight terrorism and seek progress in Iraq. .
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