http://www.rttnews.comGlobal financial news, market analysis, economics and forex newsen-usThu, 11 Mar 2010 17:35:01 GMTBranded shirts, sportswear, and footwear retailer Phillips-Van Heusen Corp. Thursday confirmed its fourth quarter, fiscal 2009 and fiscal 2010 earnings and revenue outlook, provided on February 17. The company's non-GAAP earnings estimates for the fourth quarter and fiscal 2009 are in line with analysts' expectations.http://www.rttnews.com/ArticleView.aspx?Id=1237904Thu, 11 Mar 2010 15:22:01 GMTUshering in a new era of political stability, the Ukrainian Parliament has approved a three-party coalition government headed by Prime Minister Mykola Azarov. As many as 240 Deputies in the 450-member Parliament, known as the Verhovna Rada, voted Thursday in favor of the new team that replaces Yulia Tymoshenko's pro-Western Orange coalition. Earlier in the day, a new political alliance named "The Stability and Reforms Coalition" was formed under the leadership of President Viktor Yanukovhttp://www.rttnews.com/ArticleView.aspx?Id=1237880Thu, 11 Mar 2010 14:58:54 GMTWith the value of imports falling at a faster rate than the value of exports, the Commerce Department released a report Thursday morning showing that the U.S. trade deficit unexpectedly narrowed in the month of January. The report showed that the trade deficit narrowed to $37.3 billion in January from a revised $39.9 billion in December. The smaller deficit surprised economists, who had expected the deficit to widen to $41.0 billion.http://www.rttnews.com/ArticleView.aspx?Id=1237779Thu, 11 Mar 2010 13:48:36 GMTPackaged pork and meat products maker Smithfield Foods, Inc. reported Thursday a better-than-expected profit for the third quarter compared to a loss last year, reflecting continued strength in packaged meats margins and benefits of its restructuring program. Meanwhile, quarterly sales dropped from a year ago and also missed analysts' expectations. The company noted that the latest quarter consisted of one week less that the year-ago quarter.http://www.rttnews.com/ArticleView.aspx?Id=1237758Thu, 11 Mar 2010 13:40:40 GMTWhile the Labor Department released a report Thursday morning showing a modest decrease in first-time claims for unemployment benefits in the week ended March 6th, the report also showed an increase in continuing claims. The report showed that initial jobless claims edged down to 462,000 from the previous week's revised figure of 468,000. Economists had expected jobless claims to slip to 460,000 from the 469,000 originally reported for the previous week.http://www.rttnews.com/ArticleView.aspx?Id=1237704Thu, 11 Mar 2010 13:16:56 GMTCanadian financial services provider Bank of Nova Scotia, or Scotiabank, announced that its affiliate Thanachart Bank Thursday confirmed an agreement to acquire almost 48% of Thailand's Siam City Bank, currently owned by Thailand's Central Bank through the Financial Institutions Development Fund.http://www.rttnews.com/ArticleView.aspx?Id=1237694Thu, 11 Mar 2010 13:13:31 GMTCanada-based integrated tourism company Transat A.T. Inc. on Thursday reported a net loss for the first quarter that narrowed from last year as lower operating costs helped offset a 9.7% decline in revenues due to lower selling prices and volumes. The latest quarter's results also reflect higher one-time gains compared to the year-ago period. Excluding items, loss for the quarter widened from the prior-year period. Looking ahead, the company forecasts a loss for the second quarter.http://www.rttnews.com/ArticleView.aspx?Id=1237659Thu, 11 Mar 2010 13:04:42 GMTFiltration, separation and purification products maker Pall Corp. is slated to release its second-quarter earnings results after the market closes Thursday. On average, nine analysts polled by Thomson Reuters expect the company to post earnings of $0.47 per share for the quarter, with estimates ranging between $0.46 and $0.49, while prior year's earnings were $0.38 per share. Revenues are projected to be $589 million, representing a growth of 8.4% from last year's revenues of $543.30 million.http://www.rttnews.com/ArticleView.aspx?Id=1237645Thu, 11 Mar 2010 13:00:59 GMTThe International Air Transport Association or IATA on Thursday said it halved its fiscal 2010 loss forecast to US$2.8 billion, with the largest improvements benefiting airlines in Asia and Latin America.http://www.rttnews.com/ArticleView.aspx?Id=1237406Thu, 11 Mar 2010 11:05:51 GMTThe U.S. stock futures point to a slightly lower opening Thursday morning as traders look for economic data related to trade deficit, and weekly jobless claims to get some cues on the employment situation. Strong resilience and optimism displayed by traders despite the lack of economic cues for the past three days will be tested amid anxiety over probable Chinese action in response to strong inflation data and U.S. jobless claims data. Global cues are mixed. http://www.rttnews.com/ArticleView.aspx?Id=1237369Thu, 11 Mar 2010 10:42:10 GMTUK-based long-term savings group Old Mutual plc reported Thursday a decline in fiscal 2009 pre-tax profit, on IFRS basis, while the company slipped to an after-tax loss, mainly due to the impact of marking-to-market of debt, and high tax rate. Adjusted operating profit before tax rose 3% in the year. Long-Term Savings segment recorded strong revenues in the year, benefited from improved market conditions, mainly in the second half. Further, the company said it is returning to dividend payment.http://www.rttnews.com/ArticleView.aspx?Id=1237362Thu, 11 Mar 2010 10:37:22 GMTSupermarkets operator Delhaize Group on Thursday reported a decrease in fourth quarter profit, hurt primarily by lower revenues due to high food deflation in the US. The quarter's revenue decline also reflected price competition in the industry. For the fourth quarter, net earnings attributable to shareholders decreased 9.6% to EUR 134 million or EUR 1.34 per share from EUR 149 million or EUR 1.46 per share a year ago.http://www.rttnews.com/ArticleView.aspx?Id=1237359Thu, 11 Mar 2010 10:35:54 GMTWm Morrison Supermarkets Plc (MRW.L, MRWSY.PK, MRWSF.PK), Thursday, in its preliminary results for the fiscal ended January 31, 2010, reported an increase in profit for the full year, as turnover improved helped by continued customer growth. However, the company expects the economic environment to remain challenging.http://www.rttnews.com/ArticleView.aspx?Id=1237264Thu, 11 Mar 2010 09:08:13 GMTRealtyTrac, an online marketplace for foreclosure properties, Thursday stated that foreclosure filings rose 6% in February compared to last year, but declined 2% from the previous month. Nevada, Arizona and Florida reported top state foreclosure rates during the month.http://www.rttnews.com/ArticleView.aspx?Id=1237240Thu, 11 Mar 2010 08:46:34 GMTUK-based home and general merchandise retailer Home Retail Group Plc (HOME.L) Thursday said it expects benchmark pre-tax profit for the financial year ended February 27, 2010 to be slightly ahead of current market expectations. In the final eight weeks of the year, total sales at Argos segment declined 6.6% while Homebase segment's total sales were flat with the prior year.http://www.rttnews.com/ArticleView.aspx?Id=1237217Thu, 11 Mar 2010 08:29:56 GMTIndia's National Stock Exchange (NSE) has announced a landmark cross-listing arrangement with the Chicago Mercantile Exchange (CME), the world's leading and most diverse derivatives market.http://www.rttnews.com/ArticleView.aspx?Id=1237185Thu, 11 Mar 2010 07:39:54 GMTDevon Energy Corp. said Thursday that it has entered into agreements to sell its assets in the deepwater Gulf of Mexico, Brazil and Azerbaijan to British oil giant BP plc for $7.0 billion. BP will also assume Devon's leases of the Seadrill West Sirius and Transocean Deepwater Discovery drilling rigs for the duration of the contract terms. Additionally, Devon and BP will form a heavy oil joint venture to develop BP's Kirby oil sands leases in Alberta, Canada.http://www.rttnews.com/ArticleView.aspx?Id=1237184Thu, 11 Mar 2010 07:39:09 GMTChipmaker National Semiconductor Corp. (NSM) is scheduled to report third-quarter results after the market closes Thursday. http://www.rttnews.com/ArticleView.aspx?Id=1237021Thu, 11 Mar 2010 04:51:50 GMTFabric and crafts retailer Jo-Ann Stores, Inc. reported a surge in its fourth quarter profit, driven by same-store sales growth, improved margins due to reduced product costs from global sourcing initiatives, lower clearance levels and reduced freight costs. Earning for the quarter breezed ahead of Street estimates, as did revenues. Looking ahead, the company provided its earnings forecast for fiscal year 2011.http://www.rttnews.com/ArticleView.aspx?Id=1236770Wed, 10 Mar 2010 22:12:28 GMTHealth and Human Services Secretary Kathleen Sebelius Wednesday challenged America's health insurers to join with the Obama Administration's efforts to reform the nation's health insurance system. Sebelius, speaking at the annual conference of America's Health Insurance Plans, said that it was understandable that many Americans around the country should be frustrated by the rising costs of their health insurance.http://www.rttnews.com/ArticleView.aspx?Id=1236695Wed, 10 Mar 2010 21:00:30 GMTStocks were able to move higher on Wednesday, even as the economic calendar remained light and trading volume remained subdued. The major averages all closed in positive territory, with the tech-heavy Nasdaq posting a sizable gain. Meanwhile, the Dow rose by a minute margin, remaining largely flat on the week.http://www.rttnews.com/ArticleView.aspx?Id=1236670Wed, 10 Mar 2010 20:42:13 GMTPresident Barack Obama Wednesday reiterated the U.S. commitment to recovery and rebuilding in Haiti following the earthquake that devastated the nation in January. Speaking in the White House Rose Garden following an Oval Office meeting with Haitian President Ren‚ Pr‚val, Obama said the time has come for Haiti to rebuild following the massive quake that killed thousands and left hundreds of thousands more homeless.http://www.rttnews.com/ArticleView.aspx?Id=1236545Wed, 10 Mar 2010 19:15:32 GMTNitrogen products maker Terra Industries Inc. (TRA), Wednesday said it now considers the latest bid put forward by CF Industries Holdings, Inc. (CF) better than the deal made in February with Norway-based Yara International ASA (YAR.OL, YARIY.PK). Yara now has five days to come up with a better offer. Meanwhile, CF Industries said Terra is worth more to it than any other company given the strategic benefits, including synergies.http://www.rttnews.com/ArticleView.aspx?Id=1236351Wed, 10 Mar 2010 15:21:27 GMTThe European Commission has invited comments from interested airlines on commitments proposed by a transatlantic tie-up between British Airways, American Airlines and Iberia. This was part of a probe by the European competition watchdog to address concerns that their planned alliance may harm consumers on transatlantic routes. In September last year, the Commission had raised objections to the three airlines expressing concerns that their extensive cooperation, which involves revenue-sharhttp://www.rttnews.com/ArticleView.aspx?Id=1236315Wed, 10 Mar 2010 14:55:40 GMTWholesale inventories unexpectedly showed a modest decrease in the month of January, according to a report released by the Commerce Department on Wednesday, although the report also showed a notable increase in wholesale sales. The report showed that wholesale inventories edged down by 0.2 percent in January following a revised 1.0 percent drop in December. The decrease came as a surprise to economists, who had expected inventories to rise by 0.2 percent.http://www.rttnews.com/ArticleView.aspx?Id=1236270Wed, 10 Mar 2010 14:27:28 GMTQuebecor Inc., a holding company with a 54.7% interest in Canada's largest media group Quebecor Media Inc., Wednesday, reported a profit for the fourth quarter of fiscal 2009, compared with a loss last year, which included a significant charge due to the impairment of goodwill and intangible assets. On adjusted basis, the company reported higher income from continuing operating activities for the quarter.http://www.rttnews.com/ArticleView.aspx?Id=1236261Wed, 10 Mar 2010 14:21:20 GMTTeen clothing retailer American Eagle Outfitters, Inc. reported Wednesday that profit for the fourth quarter climbed 81% from last year, helped by strong sales and margins amid fewer markdown sales during the Christmas shopping season. Adjusted earnings per share surged, and came in line with analysts' expectations. Quarterly net sales grew 7%, and topped consensus estimate by a whisker. The company also provided earnings forecast for the first quarter of fiscal 2010, above Street view.http://www.rttnews.com/ArticleView.aspx?Id=1236228Wed, 10 Mar 2010 13:58:36 GMTAlcoholic beverage manufacturer Brown-Forman Corp. Wednesday reported a decline in third-quarter profit, as expenses escalated, despite a rise in sales. Looking ahead, the company narrowed its full-year 2010 earnings forecast. The Louisville, Kentucky-based company's third-quarter net income declined to $107.9 million or $0.73 per share from $123.4 million or $0.81 per share in the corresponding period last year. Third-quarter net sales improved to $861.7 million from $784.1 million.http://www.rttnews.com/ArticleView.aspx?Id=1236102Wed, 10 Mar 2010 13:03:17 GMTIsrael's plan to build 1,600 new houses in East Jerusalem has come under unusually swift and sharp criticism from the international community. Its critics included U.N. Chief, the European Union's foreign-policy head, and the United States, despite being its strongest ally. The provocation was evident from the fact that it was Israel's second settlement plan in as many days. Breaking a promised 10-month stay in settlement construction activities in the West Bank, Israel on Mondayhttp://www.rttnews.com/ArticleView.aspx?Id=1235860Wed, 10 Mar 2010 11:09:49 GMTThe U.S. stock futures point to a lackluster opening Wednesday morning amid continuing uncertainty over the economic recovery. Better than expected export data from China could raise concerns that the world's fastest growing economy will announce further tightening measures.http://www.rttnews.com/ArticleView.aspx?Id=1235828Wed, 10 Mar 2010 10:38:29 GMT