Futures drop on bank rescue delay
NEW YORK, Feb 9 (Reuters) – U.S. stock index futures
dropped on Monday as a delay in the announcement of the Obama
administration’s bank rescue plan disappointed investors and
another wave of poor earnings showed more economic upheaval.Adding to the cautionary tone were indications that an $827
billion U.S. economic stimulus package could face another day
of political wrangling before a Senate vote on the measure on
Tuesday.
LONDON — U.K. bank Barclays PLC struck a defiant tone Monday, signaling that it wouldn’t need to turn to the government for fresh capital as it reported a better-than-expected profit for 2008.
Barclays, one of the few major U.K. banks that has yet to receive direct state support, said it earned a net profit of £4.38 billion ($6.49 billion) in 2008, down 0.8% from £4.42 billion in 2007, despite a total of £8.05 billion in losses on bad loans and other souring investments. Chief Executive John Varley said the bank, unlike many of its peers, plans to resume paying dividends in the second half of 2009 and would pay significant performance bonuses for 2008.
If you enjoy the content at iBankCoin, please follow us on TwitterNEW YORK (AP) — McDonald’s Corp. said Monday its same-store sales rose 7.1 percent in January, as cash-strapped consumers lined up for the fast-food company’s burgers and breakfast items.
Total sales in January rose 2.6 percent.
In the U.S., same-store sales, or sales at stores open for at least 13 months, rose 5.4 percent during the month.
Overseas, same-store sales rose 7.1 percent in Europe, the U.K., France and Russia, and rose 10.2 percent in the Asia-Pacific region, the Middle East and Africa.
