*MF GLOBAL REPORTS $141.5M LOS…
February 28th, 2008*MF GLOBAL REPORTS $141.5M LOSS ON ROGUE WHEAT TRADE
*SPRINT NEXTEL 4Q LOSS $29.5 B…
February 28th, 2008*SPRINT NEXTEL 4Q LOSS $29.5 BLN INCL $29.7 BLN IMPAIRMENT *ELIMINATES QUARTERLY DIVIDEND *BORROWED $2.5 BLN YESTERDAY UNDER CREDIT LINE
* MORNING WRAP
February 27th, 2008*GAZ DE FRANCE 2007 NET EU2.5 BLN; ANALYST ESTIMATE EU2.3 BLN
*BOUYGUES 4Q NET EU265 MLN; ANALYST ESTIMATE EU337 MLN
*PPR 2007 NET EU922 MLN; ANALYST ESTIMATE EU840 MLN
*ROYAL & SUN FY OPERATING PROFIT 814M PNDS; ANALYST EST. 725M
*HONG KONG ECONOMY GREW 6.3% IN 2007 FROM YEAR EARLIER
*BRENT CRUDE OIL RISES TO RECORD $100 A BARREL IN LONDON
* The dollar fell to a record low of $1.50 per euro on speculation Federal
Reserve Chairman Ben S. Bernanke will indicate the U.S. central bank is prepared
to keep lowering interest rates.
* Accor Profit Rises 76% on Disposals, Pricier Hotels
* Moody’s Investors Service and Standard & Poor’s say MBIA Inc. has enough
capital to withstand losses and justify its AAA rating. MBIA’s debt investors
aren’t so convinced. Credit-default swaps indicating the risk that Armonk, New
York-based MBIA’s bond insurance unit won’t be able to meet its obligations are
trading at similar levels to companies such as homebuilder Pulte Homes Inc.,
which is rated 10 steps lower. The discrepancy illustrates the skepticism debt
investors have about the safety of MBIA’s rating after the company posted
$3.4 billion of losses on subprime mortgages last quarter. Moody’s and S&P both
said that while at least $4 billion of writedowns lie ahead, MBIA’s management
has made enough changes to warrant the top rating.
* Holcim Ltd., the world’s second- biggest cement maker, said full-year profit
climbed 84 percent boosted by a disposal and expansion in India. Net income rose
to 3.87 billion Swiss francs ($3.6 billion) from 2.1 billion francs a year
earlier, the Jona, Switzerland-based company said in an e-mailed statement
today. That’s similar to a 3.83 billion-franc median estimate of eight analysts
in a Bloomberg survey. Sales added 13 percent to 27.05 billion francs.
*U.S. FEB. CONSUMER CONFIDENCE…
February 26th, 2008*U.S. FEB. CONSUMER CONFIDENCE INDEX FALLS TO 75.0, VERSUS 82.0 EXPECTED
* MBIA’s AAA FINANCIAL STRENG…
February 25th, 2008* MBIA’s AAA FINANCIAL STRENGTH RATING OFF CREDIT WATCH BY S&P
*U.S. DEC. PENDING HOME SALES …
February 7th, 2008*U.S. DEC. PENDING HOME SALES FALL 1.5% FROM PREVIOUS MONTH
*BANK OF ENGLAND CUTS BENCHMAR…
February 7th, 2008*BANK OF ENGLAND CUTS BENCHMARK INTEREST RATE TO 5.25%
*MACY’S SEES 4Q EPS EX-ITEMS $…
February 6th, 2008*MACY’S SEES 4Q EPS EX-ITEMS $1.57-$1.62; ANALYST EST. $1.72