Nikkei 225 closes lower on Tuesday

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Source: Dukascopy Bank

Japan's Nikkei 225 Stock Average traded 0.46% or 38.78 points down and closed at 8,440.56 on Tuesday amid investor worries about China's economic outlook. On the downside were Retailer Takashimaya Co Ltd and giving up 3.61% and civil engineering producer Furukawa Co Ltd dropping 3.08%. Among best performers were heavy machinery producer IHI Corp gaining 3.37% and Sumitomo Chemical Co Ltd adding 2.89%. 

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Tue, 27 Dec 2011 15:09:50 GMT

Sears to close 120 stores

Retail chain operator Sears Holding Corp. announced it will close around 120 stores and alerted of harsh drop in earnings measure. After the announcement shares of Sears Holding Corp. plunged 17.67% to $37.75 per share. Company plans to generate cash of $140 million to $170 million from sales of locations and inventory. Sears currently operates about 4000 stores in the US and Canada.

Tue, 27 Dec 2011 14:25:28 GMT

Indian industrial growth contracts on the RBI policy

The Reserve Bank of India conducts its tough monetary policy aimed at lowering the inflation rate thus impacting the development of industrial sector, reported ASSOCHAM. Net sales in Q2 decreased to 20.41% as compared to 27.67% in Q1. The government encourages companies to concentrate on output increase rather than on imports as depreciating rupee will put additional pressure on such imports as oil, coal and

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