US FINANCIAL MARKET
- MasterCard doubled its quarterly cash dividend to 60 cents per share and said it would buy back up to $2 billion of its Class A shares.
- Kellogg reported a narrower quarterly loss on Tuesday helped by improvements in Latin America and stood by its full-year forecast.
- Boeing has asked the FAA for permission to conduct test flights of its 787 Dreamliner, suggesting the company is making progress in finding a solution to the battery problems.
- Revlon’s fourth-quarter net income climbed 28%, helped by an acquisition and stronger sales of Revlon makeup and hair color in the U.S. and Latin America.
- The U.S. government has launched a civil lawsuit against Standard & Poor’s and parent The McGraw-Hill Companies over mortgage bond ratings.
- Yum Brands warned Monday that it expects its profit for the year to decline as the parent company of KFC, Pizza Hut and Taco Bell continues to reel from a controversy over its chicken suppliers in China.
- Walt Disney’s quarterly earnings are expected to fall slightly, a rare stumble for the owner of some of the most successful TV networks, movie studios and theme parks in the world.
- Toyota Motor raised its profit forecast for the fiscal year ending March 31 as it reported a third-quarter profit up 23% from a year ago.
- BP Deepwater bill rises by $4.1bn. Total charge for 2010 oil spill stands at $42.4bn, as company races to prevent civil trials reaching court.
US ECONOMY & POLITICS
- Home prices post biggest jump in over six years. Home prices rose for a tenth consecutive month on a year-over-year basis in December. CoreLogic’s home price index rose 0.4% from the previous month and added 8.3% compared to December a year ago.
EUROPE & WORLD
- Markit’s Eurozone Composite PMI, based on business activity across thousands of companies, and a good gauge of economic growth, rose in January to a 10-month high of 48.6 from 47.2 in December – an improvement on the preliminary reading of 48.2.
- Russia’s inflation rate was 7.1%, jumping from 6.6% the previous month.
- Indonesia’s economy grew at the slowest pace in more than two years. GDP increased 6.11% in the in the fourth quarter.
TODAY in HISTORY
- FDR proposed increasing the number of Supreme Court justices—”packing” the court (1937)
Sources: Reuters, Yahoo Finance, Google Finance, Bloomberg, CNN Money.
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