Market Roundup (HBC, TM, JPM, BUD, XOM)
HSBC (NYSE: HBC) has disclosed that up to 24,000 accounts were affected when a former employee stole customer data three years ago and submitted it to French tax authorities. The bank had previously said the number of clients affected by this data theft was less than 10.
An increase in complaints for Toyota Motor’s (NYSE: TM) Prius brand does not necessarily mean that there is an epidemic of bad gas pedals. Experts on consumer psychology say that it could be a result of an increase in consumer awareness. Moreover, continued negative coverage by the media has also prompted consumers to look for problems that might not be there.
JPMorgan Chase (NYSE: JPM) has made filings with the Securities and Exchange Commission (SEC) to seek approval for index funds tracking muni and corporate debt and actively managed funds. JPM already runs an ETN acquired when it bought Bear Stearns.
Brewer Anheuser-Busch InBev (NYSE: BUD) has sued an Illinois state regulator for blocking its attempt to buy its largest alcoholic beverage distributor in Chicago. The seven-member regulator had ruled that BUD is a "nonresident dealer," as a result of which it cannot operate as a distributor, as per the three-tier system put in place after Prohibition's repeal.
Exxon (NYSE: XOM) plans to spend $27 billion on capex in 2010, as compared to $26 billion in 2009. XOM expects to spend $25-$30 billion on capital projects per year until 2014.
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