US stocks fell and were poised for their first 4Q decline since 2000 after government reports on durable goods and unemployment fuelled speculation the housing-market collapse would shove the economy into a recession. Last Friday, the DJIA inched up 6.26, or 0.05%, to 13,365.87 while the Nasdaq slipped 2.33, or 0.09%, to 2,674.46.
From the media, some brief corporate news:
- Koh Brothers Group and Brothers (Holdings) have terminated their deal over JV Construction Consortium, which will become a wholly-owned subsidiary of Koh Brothers. Brothers (Holdings) will sell its 46.58% stake in the JV to Koh Brothers for $18.97m.
- China Flexible Packaging Holdings, a producer of biaxially-oriented polypropylene film, has seen its sales cross Rmb1b (S$198m) for the year ended 31 October. 4Q net profit grew 9.66% to about Rmb43m, while revenue rose 7.42% to some Rmb284.1m.
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