Market Gawk

Most economists say an economic downturn in the U.S. is unlikely, but the stock market looks very worried

Original post by FeedZilla

SHANGHAI (MarketWatch) — After shares in many NASDAQ-listed Chinese companies had double-digit percentage falls and gains last week, this week should restore a relative sense of normalcy for investors.

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NEW YORK (MarketWatch) — The Sunday sun was still high above George’s At the Cove restaurant, overlooking the Pacific in the idyllic California beach town of La Jolla. But Richard Russell, editor of Dow Theory Letters since 1958, was ready for dinner. He would be getting up at 3:15 a.m. Monday as always, preparing to write the several thousand words of commentary he posts every day that the market is open.

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SAN DIEGO (MarketWatch) — If you are like me, you have bought more than your share of the popular iPod music players. I have had two. My children have had two each. My wife hasn’t even unpacked the one I bought her as holiday gift at a discounted price from Amazon.com.

Original post by FeedZilla

HONG KONG (MarketWatch) — Asian indexes dropped sharply early Monday in the wake of a U.S. stock plunge on credit-market concerns. Japanese shares also were hit hard by exporters such as Canon Inc. and Sony Corp. as the yen strengthened against the U.S. dollar. The Nikkei 225 index fell 1.5% to 16,726.51, while the broader Topix index dropped 1.4% to 1,648.58. Australia’s S&P/ASX 200 index declined 1.5% to 5,930.50, New Zealand’s NZX 50 index dropped 2.2% to 4,030.37 and South Korea’s Kospi lost 2.1% to 1,838. Friday on Wall Street, the Dow Jones Industrial Average fell as much as 281.42 points to 13,181.91, on credit market-related concerns and a weak jobs report.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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SAN FRANCISCO (MarketWatch) — Akzo Nobel NV and a German partner have reached an agreement to take over the U.K.’s Imperial Chemical Industries Plc, known as ICI in a deal worth about $16.3 billion, according to a report in the Wall Street Journal’s online edition citing people familiar with the matter. Akzo and its partner, Henkel KGaA, are conducting a due diligence inspection of the chemicals and paint maker that is expected to be competed this week. A formal takeover agreement would be announced by the Thursday deadline set by British takeover regulators, according to the Journal report. ICI has turned down two previous approaches from Akzo Nobel.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Original post by FeedZilla

US interest rates are expected to remain on hold at 5.25 per cent this week, but money markets are once again pricing in a rate cut before the end of the year as a result of the current turmoil in credit markets.

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TEL AVIV (MarketWatch) — Istithmar, the Dubai investment firm, matched Fast Retailing Co.’s $900 million bid for the men’s clothing firm Barneys New York, Reuters reported.

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Istithmar has raised its offer to the Jones Apparel Company for its Barneys New York chain to $900m, along with competitive terms in the share purchase agreement. The offer essentially matches that of Japan’s Fast Retailing Company, which last week topped Istithmar’s previously agreed price of $825m. Istithmar has stated that if this offer is not accepted, it is entitled to a $22.7m break-up fee.

Original post by FeedZilla

Kuwait’s Global Investment House, the company's largest shareholder and co-lead manager for the offer, has recently closed the First Jordan Investment Company’s IPO, with the offering around four times over subscribed. A consortium of local and regional institutional and individual investors, with Global taking a majority share, had already covered 60% of FJIC's $213.2m capital. The remaining 60m shares were bought up by almost 68,000 investors who generated around $317m.

Original post by FeedZilla