| Deal forged on stimulus
600 to singles and $1,200 to married couples who paid taxes last year.
- $300 to singles and $600 to married couples who did not pay taxes but earned at least $3,000 last year.
- A $300-per-child bonus.
- Temporary tax breaks to businesses that buy equipment and invest in their operations. .
Earnings roundup: Parker Hannifin
CLEVELAND (AP) _ Parker Hannifin Corp., which makes motion-control systems, said Thursday its second-quarter profit rose 9.8 percent on higher industrial sales in North America and internationally. MEMPHIS, Tenn. (AP) _ Regional bank First Horizon National Corp. swung to a loss during the fourth quarter due to rising loan-loss reserves, a reduction in the value of mortgage servicing rights and charges stemming from an earnings enhancement plan. DALLAS (AP) _ Business and consumer banking services provider Comerica Inc. said Thursday its fourth-quarter profit fell 60 percent year-over-year as bad debt more than quadrupled on the continued downturn in Michigan and California real estate development markets. NEW YORK (AP) _ BlackRock Inc.'s fourth-quarter earnings surged as investors shifted money to safer harbors and increasingly sought financial advice amid the ongoing credit crisis, the investment management firm said Thursday.
Kaufmann Fund bullish on growth in India
Kaufmann Fund's Lawrence Auriana and Hans Utsch, whose bets on the fastest-growing U.S. companies made them top-ranked managers over the past two decades, say India is the future. They have 15 percent of the $11.5 billion mutual fund invested in Indian companies, including mortgage lender Housing Development Finance Corp. and wireless operator Bharti Airtel Ltd. That compares with a 1 percent allocation in Asia's emerging markets for the fund's competitors, according to data compiled by Chicago-based research firm Morningstar Inc. "We're always looking for growth, and the growth right now is going on in India and China," Auriana said in an interview in his New York office. "The valuations aren't as extreme in India as they are in China." Kaufmann Fund rose 21 percent in 2007, more than 87 percent of its peers that concentrate assets in midsize companies with above-average sales or earnings growth, data compiled by Bloomberg show.
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