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Fresh fears for US economy as corporate profits tumble again
Summary from multiple countries, from articles in English
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High street sales The headline gauge of sales from a CBI survey showed that a net balance of minus 14 per cent of retailers said that sales fell in May, up from minus 26 per cent for April. (article 2)
House prices fell in May by a further 2.5 per cent, Nationwide Building Society said, the largest monthly drop in its survey&rsquos 17-year history and the seventh monthly fall in property values. (article 2)
Corporate America caused fresh fears of a US economic downturn yesterday as first-quarter profits fell at an annual rate of 6.2 per cent, their sixth consecutive quarter of year-on-year decline. (article 4)
Profits in non-financial businesses for the first three months of this year fell by an annual 2.6 per cent while those in financial groups were down by 12.2 per cent, before writedowns. (article 4)
Wall Street stocks rose for a third straight session on Thursday as oil prices dropped, financials rallied on a bullish analyst report and data showed the US economy grew faster than previously thought in the first quarter. (article 3)
A $2.9bn shopping centre investment fund managed by Capital & Regional is to raise $300m through a deeply discounted rights issue to prevent a breach of a key debt covenant. (article 1)
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Other summaries about this story:
Event tracking:
Story keywords
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cent, quarter, Profits, million, billion |
Source articles
- Property fund in discount issue (ft.com, 05/28/2008, 445 words)
- Need to know (business.timesonline.co.uk, 05/30/2008, 1592 words)
- US stocks rise as oil prices edge down (ft.com, 05/29/2008, 676 words)
- Fresh fears for US economy as corporate profits tumble again (business.timesonline.co.uk, 05/30/2008, 600 words)
- National Bank quarterly profit falls 29 per cent to $165M on ABCP hit (cbc.ca, 05/29/2008, 258 words)
- One quarter of disabled kids not getting special education: StatsCan (cbc.ca, 05/28/2008, 292 words)
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blaster@cs.columbia.edu
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