http://www.rttnews.comGlobal financial news, market analysis, economics and forex newsen-usWed, 16 May 2012 14:15:01 GMTWith utilities output showing a substantial increase in the month of April, the Federal Reserve released a report Wednesday morning showing a much bigger than expected increase in overall industrial production for the month. The Fed said industrial production increased by 1.1 percent in April, far exceeding economist estimates for an increase of about 0.5 percent. At the same time, the report said production fell by 0.6 percent in March after rising by 0.4 percent in February.http://www.rttnews.com/story.aspx?Id=1887804Wed, 16 May 2012 13:42:12 GMTFarm equipment maker Deere & Co., lifted its earnings forecast for fiscal-year 2012 yet again after reporting better-than-expected earnings and revenues for the second quarter, helped by a strong farm economy. The company noted it achieved its eighth consecutive quarterly earnings record in the quarter.http://www.rttnews.com/story.aspx?Id=1887801Wed, 16 May 2012 13:40:09 GMTDiscount-store operator Target Corp. on Wednesday reported a profit for the first quarter that beat analysts' expectations, as strong same-store sales growth and higher revenue at its retail segment helped offset lower earnings at its credit card segment. Target's retail sales for the quarter were aided by unusually warm weather and an early Easter. Buoyed by the results, Target forecasts earnings for the second quarter above analysts' estimates and raised its earnings outlook for fiscal 2012.http://www.rttnews.com/story.aspx?Id=1887769Wed, 16 May 2012 13:21:57 GMTHousing starts in the U.S. came in well above estimates in the month of April, according to a report released by the Commerce Department on Wednesday, although the report also showed a sharp drop in building permits. The report showed that housing starts rose 2.6 percent to an annual rate of 717,000 in April from the revised March estimate of 699,000. Economists had expected housing starts to increase to 690,000 from the 654,000 originally reported for the previous month.http://www.rttnews.com/story.aspx?Id=1887760Wed, 16 May 2012 13:18:14 GMTSpecialty retailer Chico's FAS, Inc. reported Wednesday a profit for the first quarter that increased from last year, reflecting double-digit revenue growth and the acquisition of Boston Proper. Consolidated comparable sales increased 9.6 percent. Adjusted earnings per share and quarterly revenues topped analysts' expectations. The company also raised its revenue guidance for the full-year 2012.http://www.rttnews.com/story.aspx?Id=1887756Wed, 16 May 2012 13:15:47 GMTCasual apparel retailer Abercrombie & Fitch Co. Wednesday said its profit in the first quarter plunged from last year amid higher costs in a weak European environment. The company still confirmed its full year earnings outlook. Mike Jeffries, CEO, said, "While we are disappointed that European sales trends remain challenging in a very difficult macroeconomic environment, we are largely satisfied with our overall performance for the quarter in that context."http://www.rttnews.com/story.aspx?Id=1887722Wed, 16 May 2012 12:59:02 GMTNot too much, not too little, just the right amount is the best policy to follow in everything, including eating. But there are two extremes in the spectrum of eating disorders namely, obesity and anorexia. So, what causes these two extremes? A new study sheds some light on how the brain reward systems respond to food in anorexic and obese people.http://www.rttnews.com/story.aspx?Id=1887697Wed, 16 May 2012 12:41:01 GMTThe Bank of England said the U.K. growth is set to remain subdued with headwinds blowing from the Eurozone debt crisis, leaving room open for more stimulus. Moreover, inflation is judged to take more time to return to its target than estimated three months ago. In its quarterly Inflation Report released on Wednesday, the central bank said the prospects for U.K. growth remain unusually uncertain. Governor Mervyn King said the economy will continue to face headwinds during the forecast period.http://www.rttnews.com/story.aspx?Id=1887672Wed, 16 May 2012 12:28:52 GMTFacebook has upsized its initial public offering a day after the social network raised its estimated price range, according to a regulatory filing made public on Wednesday. By selling 421.2 million shares, up 25 percent from what the company had previously indicated, Facebook is now expecting to raise up to about $16 billion. The company was previously offering 337.4 million shares at a price range of $34 to $38 a share in hopes of raising $13 billion.http://www.rttnews.com/story.aspx?Id=1887664Wed, 16 May 2012 12:15:19 GMTOffice supplies retailer Staples, Inc., reported Wednesday a decline in first-quarter profit citing lower sales internationally and severance costs associated with layoffs. The company reiterated its full-year forecast, assuming continued slow growth in the U.S. economy and a soft demand environment in Europe. Headcount reductions in North America, Europe and Australia and acquisition-related costs impacted the results to the tune of $0.03 per share.http://www.rttnews.com/story.aspx?Id=1887626Wed, 16 May 2012 11:51:55 GMTThe rate of unemployment and the number of persons claiming the job seekers' benefits in the U.K. posted surprise declines as the number of part-time workers hit the highest level on record during the March quarter, official data showed Wednesday.http://www.rttnews.com/story.aspx?Id=1887531Wed, 16 May 2012 10:22:04 GMTEuropean Aeronautic Defence and Space Co. on Wednesday lifted its full year earnings outlook, as the company reported a first-quarter profit with strong performances from Airbus, Eurocopter and Astrium divisions, despite strained defence markets in the Western world. The company, popularly known as EADS, now expects adjusted earnings per share above 1.85 euros, compared to the previous projection of 1.65 euros per share. In 2011, EADS earned 1.39 euros.http://www.rttnews.com/story.aspx?Id=1887312Wed, 16 May 2012 06:27:30 GMTRealty major Unitech Ltd. reported a lower net profit for the fourth-quarter, both on stand-alone and consolidated basis, hurt by higher borrowing costs and slowdown in income.http://www.rttnews.com/story.aspx?Id=1887242Wed, 16 May 2012 05:36:32 GMTEuropean Union finance ministers have reached an agreement over stricter new banking rules in a bid to avoid future crises and relieve taxpayers from the need to bailout banks. In a statement, the Council of the European Union said the ministers unanimously agreed a general approach on two proposals - the so called "CRD 4" package, amending the EU's rules on capital requirements for banks and investment firms.http://www.rttnews.com/story.aspx?Id=1887225Wed, 16 May 2012 04:58:38 GMTAustralia's consumer confidence remained almost unchanged in May as the Reserve Bank's surprise rate cut failed to offset the negative sentiment from the recent developments in Europe, a key survey revealed Wednesday.http://www.rttnews.com/story.aspx?Id=1887205Wed, 16 May 2012 03:21:40 GMTDepartment-store operator J.C. Penney Co., Inc. said Tuesday after the markets closed that it swung to a first quarter loss, hurt by lower sales as well as markdowns and restructuring charges. The company's top line and its bottom line both missed analysts' estimates by huge margins. The company also said it will discontinue its quarterly dividend.http://www.rttnews.com/story.aspx?Id=1887049Tue, 15 May 2012 21:56:26 GMTSignaling that Washington could be faced with another bruising battle over raising the debt ceiling, House Speaker John Boehner, R-Ohio, insisted in a speech on Tuesday that any increase in the debt ceiling be accompanied by spending cuts larger than the amount of the increase. Addressing the Peter G. Peterson Foundation's Fiscal Summit, Boehner said that the debt limit should be welcomed and not feared, calling it at an "an action-forcing event in a town that has become infamous for inaction."http://www.rttnews.com/story.aspx?Id=1886977Tue, 15 May 2012 21:07:51 GMTAfter showing a lack of direction for much of the session, stocks came under pressure in the latter part of the trading day on Tuesday. Worries about Greece weighed on the markets once again, overshadowing a batch of largely upbeat U.S. economic data. The major averages moved roughly sideways going into the close, stuck firmly in negative territory. With the losses on the day, the major averages once again ended the session at their worst closing levels in over three months.http://www.rttnews.com/story.aspx?Id=1886891Tue, 15 May 2012 20:32:29 GMTGreece is heading for a fresh general election after the second round of talks between political parties to form a coalition government failed to reach agreement on Tuesday.http://www.rttnews.com/story.aspx?Id=1886674Tue, 15 May 2012 16:42:48 GMTHomebuilder confidence in the U.S. has seen a significant improvement in the month of May, the National Association of Home Builders revealed in a report on Tuesday, with the index of homebuilder confidence reaching a five-year high. The report showed that the NAHB/Wells Fargo Housing Market Index jumped to 29 in May from a downwardly revised 24 in April. Economists had expected the index to edge up to 26 from the 25 originally reported for the previous month.http://www.rttnews.com/story.aspx?Id=1886591Tue, 15 May 2012 14:46:34 GMTTJX Companies, Inc. on Tuesday reported a 58 percent increase in profit for the first quarter from last year. The results reflect higher revenues as well as comparable store sales, and improved margins. Both earnings and revenue beat analysts' expectations. Looking ahead, the off-price apparel and home fashions retailer forecast higher earnings in the second quarter and raised its earnings outlook for fiscal 2013. However, the outlook for both the periods are lower than analysts' estimates.http://www.rttnews.com/story.aspx?Id=1886574Tue, 15 May 2012 14:23:01 GMTActivity in the New York manufacturing sector has expanded at an accelerated rate in the month of May, according to a report released by the Federal Reserve Bank of New York on Tuesday, with the index of activity in the sector rising by much more than expected. The New York Fed said its general business conditions index jumped to 17.1 in May from 6.6 in April, with a positive reading indicating an increase in regional manufacturing activity.http://www.rttnews.com/story.aspx?Id=1886528Tue, 15 May 2012 13:40:29 GMTHandset maker Nokia Corp. (NOK) on Tuesday introduced two dual SIM mobile phone models - the Nokia 110 and Nokia 112 - that combine browsing, social media, apps, entertainment and long battery life.http://www.rttnews.com/story.aspx?Id=1886515Tue, 15 May 2012 13:30:49 GMTRetail sales in the U.S. saw a modest increase in the month of April, according to a report released by the Commerce Department on Tuesday, with the increase in sales matching economist estimates. The report showed that retail sales edged up by 0.1 percent in April following a revised 0.7 percent increase in March. Economists had expected sales to increase by 0.1 percent compared to the 0.8 percent growth originally reported for the previous month.http://www.rttnews.com/story.aspx?Id=1886510Tue, 15 May 2012 13:27:47 GMTInflation remained well under control in April, new government figures showed on Tuesday. After a couple months of relatively strong readings, consumer prices stagnated last month, returning to the tame levels seen late last year and the start of this year. The Department of Labor revealed that consumer prices were flat in April compared to the previous month. This matched the expectation of economists, who had predicted no change.http://www.rttnews.com/story.aspx?Id=1886461Tue, 15 May 2012 12:55:40 GMTSocial networking giant Facebook has raised the price range for its initial public offering to $34 to $38 a share, up from its earlier price range of $28 and $35 per share. The company expects to raise almost to $13 billion with the sale of 337.4 million shares, according to a regulatory filing made public on Tuesday. In what is expected to be the largest ever IPO for a technology company, Facebook is seeking a market valuation of $104.2 billion.http://www.rttnews.com/story.aspx?Id=1886447Tue, 15 May 2012 12:42:26 GMTHome improvement retailer Home Depot, Inc. reported Tuesday a higher first-quarter profit as warm weather created improved demand for home renovation products, boosting its sales by about 6 percent. Adjusted earnings matched analysts' estimates, but sales came below their view. Based on its year-to-date performance, the company lifted its guidance for the fiscal ending January 2013.http://www.rttnews.com/story.aspx?Id=1886356Tue, 15 May 2012 11:49:09 GMTThe Eurozone economy narrowly avoided a recession in the first quarter, as robust German economic growth offset contractions by the Spanish and Italian economy. Gross domestic product for the 17-nation bloc remained flat compared to the previous quarter after shrinking 0.3 percent in the fourth quarter of 2011, flash estimate from Eurostat showed Tuesday. The first quarter stagnation helped the bloc to avoid recession as two consecutive quarters of contraction indicates technical recession.http://www.rttnews.com/story.aspx?Id=1886269Tue, 15 May 2012 10:56:43 GMTThere is an Irish proverb that says a good laugh and a long sleep are the best cures in the doctor's book. But not everyone gets a good night's sleep. Blame it on sleep disorders like insomnia, sleep walking and narcolepsy (excessive sleeping), to name a few.http://www.rttnews.com/story.aspx?Id=1886250Tue, 15 May 2012 10:43:55 GMTAditya Birla Nuvo Ltd., a diversified conglomerate, reported a lower net profit for the fourth-quarter, both on consolidated and stand-alone basis, impacted by higher depreciation and interest costs, primarily relating to 3G investments in the telecom business, and higher provision for entry tax.http://www.rttnews.com/story.aspx?Id=1886248Tue, 15 May 2012 10:42:13 GMT