Global Investing News

U.S. Pending Home Sales Up 2.1%; India Exports Plunge 21.7%; U.S. Manufacturing Gains Traction; Nigerian Market Down 37% This Year; KMPG Sued for $1 Billion; Carmakers’ Incentives Help Sales in March; Macy’s Debt Downgraded to Junk; Billion-Dollar Hedge Funds Drop 40%

• Pending sales of U.S. homes increased 2.1% from January to February, nearly doubling the expectations of economists polled by Reuters. The National Association of Realtors Pending Home Sales Index, which measures contracts signed, rose to 82.1 from 80.4.

 

• India’s exports continued falling in February, but at the fastest pace in at least 13 years, according to government figures. Merchandise shipments fell…

Global Investing Roundups

Bristol Myers Moves for ImClone; Kodak Earnings Fade; Diana Shipping Doubles Earnings; Crude Stumbles Again; Google to Start VC Fund; Primetime Ad Drama; MasterCard Slumps on Less Spending; S&P Says U.S. Car Companies are “Junk”

-Bristol-Myers Squibb Co. (BMY) yesterday (Thursday) offered $4.5 billion in cash for biotechnology company ImClone Systems Inc. (IMCL), the Associated Press reported. ImClone’s board has yet to comment on the proposal, which offers its stockholders $60 per share, a 30% premium to its Wednesday closing price of $46.44. Bristol-Myers already owns about 17% of ImClone.

-Eastman Kodak Co. (EK) said yesterday (Thursday) that second-quarter profit fell, as traditional…