Gold futures end below $900 an ounce

Posted by admin | Market News | Tuesday 10 March 2009

NEW YORK (MarketWatch) — Gold futures ended below $900 an ounce Tuesday, as a rally on Wall Street reduced the metal’s appeal as a safe haven. Gold for April delivery dropped $22.10 to end at $895.90 an ounce on the New York Mercantile Exchange. Earlier, the benchmark contract hit an intraday low of $893.50 an ounce.

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Moody’s raises outlook, some ratings on Boston Scientific

Posted by admin | Market News | Tuesday 10 March 2009

SAN FRANCISCO (MarketWatch) — Moody’s said Tuesday that it raised certain ratings of Boston Scientific Corp. while improving the ratings outlook for the medical device maker. Moody’s upgraded Boston Scientific’s senior unsecured note and senior shelf ratings to Ba1 from Ba2, and revised the outlook to stable from negative. Moody’s affirmed its Ba1 corporate family rating on the company. The agency said the outlook change reflects improved covenant cushions from recent amendments to bank facilities, improved sales, and cost-savings initiatives. Shares of Boston Scientific rose 7.3% to $6.59 in recent trading.

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Japan’s Hitachi to pay $31 mln for TFT-LCD price fixing

Posted by admin | Market News | Tuesday 10 March 2009

SAN FRANCISCO (MarketWatch) — Japan’s Hitachi Displays Ltd. will plead guilty and pay a $31 million fine for its role to fix prices in the sale of thin film transistor-liquid crystal display panels sold to Dell Inc. , the Department of Justice said Tuesday. Hitachi Displays is charged with conspiracy to fix the prices of TFT-LCD sold to Dell for use in desktop monitors and notebook computers from April 1, 2001 to March 31, 2004, according to a one-count felony charge filed in U.S. District Court in San Francisco. Under the plea agreement, Hitachi Displays will cooperate with the Justice Department’s ongoing antitrust investigation. Hitachi Displays is a subsidiary of Hitachi Ltd. .

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