The economy shrank at a worse-than-expected 6.1 percent pace at the start of this year as sharp cutbacks by businesses and the biggest drop in U.S. exports in 40 years overwhelmed a rebound in consumer spending.
Monthly archives for April, 2009
Wall Street extends gains on data, earnings (Reuters)
Stocks extended gains on Wednesday on better-than-expected earnings and data that suggested business inventories will need rebuilding, even as the economy shrank more than expected in the first quarter.
Siemens Q2 net profit soars amid higher sales (AP)
Industrial conglomerate Siemens AG saw net profit more than double in the first three months of 2009 amid higher sales and lower one-time charges, but warned orders dropped substantially, causing it to lower its operating profit outlook.
US economy shrinks at 6.1 percent pace in 1Q (AP)
The U.S. economy shrank at a worse-than-expected 6.1 percent pace at the start of this year as sharp cutbacks by businesses and the biggest drop in U.S. exports in 40 years overwhelmed a rebound in consumer spending.
Stock futures rise ahead of GDP data, Fed remarks (AP)
Wall Street is set to break a two-day losing streak Wednesday as investors anticipate an encouraging reading on first-quarter GDP.
ICF International Awarded $9.3M by Defense Contract Management Agency (Business Wire)
FAIRFAX, Va.—-ICF Information Technology, LLC, a subsidiary of ICF International , was recently awarded a recompete contract by the Defense Contract Management Agency to provide software support services to the agency’s Information Technology Customer Service Organization and the eTools program.
Renaissance Lighting to Debut White LED Downlights with 2 ½ Times Greater Efficacy at LIGHTFAIR International (Business Wire)
NEW YORK—-Renaissance Lighting is coming to LIGHTFAIR International 2009 to showcase its all new, all white solid-state LED downlight fixtures that are brighter than ever and have two and a half times more lumens per watt than previous generations.
Siemens 2Q net profit up 146 percent (AP)
Industrial conglomerate Siemens AG said Wednesday that net profit soared by 146 percent in its fiscal second quarter on higher sales and lower one-time charges. However, order intake dropped.
Central bank: Singapore recession likely bottomed (AP)
Singapore’s worst-ever recession likely bottomed in the first quarter, but the city-state faces a tepid recovery as global demand for its exports struggles to rebound, the central bank said Wednesday.
SKorea notches record current account surplus (AP)
South Korea posted a record current account surplus in March as imports fell sharply, the central bank said Wednesday. The surplus came in at $6.65 billion, the Bank of Korea said in a statement.