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HONG KONG (MarketWatch) - South Korea posted a trade deficit in June, down from a large surplus a year earlier, as imports expanded almost twice as fast as exports. The trade deficit hit $284 million in June, compared to a $3.49 billion surplus a year earlier, according to a preliminary estimate released by the Ministry […]

HONG KONG (MarketWatch) — Asian shares traded on an mostly upbeat note Tuesday morning, with Japan’s Nikkei marking its first gain in nine sessions with banking shares among standouts after the Bank of Japan’s quarterly tankan survey of business sentiment came in slightly stronger than expected. Australian shares edged lower, with oil companies such […]

TOKYO (MarketWatch) — The Bank of Japan’s quarterly tankan survey of business sentiment released Tuesday showed corporate Japan’s mood is indeed growing gloomier amid soaring global prices of materials, but the figures were slightly better than consensus expectations. The diffusion index for large manufacturers fell to 5 from 11 in the March survey, but was […]

SAN FRANCISCO (MarketWatch) — Manitowoc Co. said late Monday that Enodis PLC will recommend its bid for the company following an auction with Illinois Tool Works Inc. . Manitowoc said its successful bid for Enodis was 328 pence a share, resulting in a transaction worth around $2.7 billion. Manitowoc affirmed its outlook for 2008 […]

SAN FRANCISCO (MarketWatch) — BCE Inc. is deferring payment of $294 million in second-quarter dividend and will instead use the funds to complete its deal with an investor group led by Teachers’ Private Capital, the Canadian communication company said late Monday. The group is slated to buy out BCE in deal valued at […]

SAN FRANCISCO (MarketWatch) — The Justice Department said late Monday it is seeking a federal court order authorizing the Internal Revenue Service to request information from Switzerland-based UBS AG about U.S. taxpayers who may be using Swiss bank accounts to evade federal income taxes. The Justice Department is seeking permission to allow the IRS […]

SAN FRANCISCO (MarketWatch) — Florida Attorney General Bill McCollum on Monday filed a lawsuit against Countrywide Financial Corp. and Chief Executive Angelo Mozilo, alleging that the company engaged in deceptive and unfair trade practices, The Wall Street Journal reported in its online edition. The lawsuit alleges that the company signed up clients with mortgages […]

SAN FRANCISCO (MarketWatch) — MGIC Investment Corp. said late Monday it has no plans to offer additional shares after shareholders voted to increase the number of authorized company shares allowed. On Friday, MGIC sharesholders voted to increase the number of authorized shares allowed to 460 million from 300 million. MGIC has about 125.1 million […]

SAN FRANCISCO (MarketWatch) — Fortune Brands Inc. late Monday lowered its second-quarter earnings outlook due to weaker consumer
sentiment in the U.S. The spirits company now expects earnings per share before charges and gains to fall by high 10% to mid-20% range from $1.51 a share in the year-earlier period. Fortune had earlier projected earnings […]

NEW YORK (MarketWatch) — After a mixed session on Monday, U.S. stocks were left with sharp losses for June and the second quarter, as surging crude oil prices and ailing financial firms continued to fuel broad concerns about the economy and profits. The Dow Jones Industrial Average finished up 3.5 points at 11,350 on […]