Stocks slide as service-sector data signal contraction

Date: Tue, 05 Feb 2008 17:01:13 (GMT)
Stocks slide as service-sector data signal contraction

U.S. stocks trade sharply lower after the release of service-sector data
signaled contraction in January.

BP boosts dividend as weak refining performance hits profit

Oil giant BP reports weaker-than-expected earnings due to a "very
disappointing" performance from its refining business, though a sharp
increase in dividend payouts helps boost its shares.

Metals Stocks: Gold futures drop sharply on dollar strength

Gold futures drop sharply to trading below $900 an ounce, as a surge in
the U.S. dollar lowered investment demand for the precious metal.

Obama surge heightens Super Tuesday drama
WASHINGTON

An eleventh-hour surge in polls by Sen. Barack Obama over Sen. Hillary
Clinton is shaping up to make "Super Duper Tuesday" a dramatic showdown
between the contenders for the Democratic nomination, while John McCain
is handily leading his Republican rivals in a survey taken before the
24-state contest.

Australia raises interest rate to an 11-year high

The Reserve Bank of Australia raises its benchmark interest rate by a
quarter-percentage point to 7%, the highest level in more than 11 years,
to curb "significant inflation pressures," and keeps alive expectations
of further rate hikes in months ahead.