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January 29, 2008
by Stewart Douglas
Japanese industrial giant Nippon Steel has today announced an unexpected fall in profits over the last quarter, despite rising metal prices, which has left market analysts confused and sent investors into blind panic over the causes of the loss and the outlook for future profitability.
The announcement saw 7.6% wiped off the value of shares in the world's second largest manufacturer of ...
by Stewart Douglas
Fast food conglomerate McDonald's has today reported weaker than expected quarterly sales figures, reflecting a growth in profits of just 3% over the last quarter of 2007 following a slumping in US sales, which was lifted by strong performance in other global markets.
Over the last quarter to December, McDonald's reported an increase in net profit from $1.24 billion (in 2006) to ...
January 28, 2008
by Elaine Frei
Wall Street ended higher Monday as bad news from the housing market actually worked to send shares higher as investors assumed that the news would push the Federal Reserve toward cutting interest rates again this week, as many analysts expect. The Dow Jones Industrial Average added 1.45 percent to 12,383.89 while the Nasdaq Composite was up ...
by Elaine Frei
April platinum added $48.60 to $1,728.70 per troy ounce in New York after going as high as $1,733 per troy ounce earlier in the session as analysts predicted that production in South Africa as mines there remained closed and analysts predicted that supplies from those mines would be subject to interruptions for at least the next two to four ...
by Elaine Frei
The US dollar declined in relation to the euro Monday on the news that new home prices were at a 12-year low in December and as investors expected that the Federal Reserve will cut interest rates again this week after its surprise rate cut last week.
In early afternoon trade in New York, the dollar traded at $1.4788 to the euro and ...
by Kay Murchie
Palm Inc. is to close 7 of 8 of its retail stores by the end of February. The company is to focus on smartphones as it continues to lose sales to Blackberrys and iPhones.
Palm is losing out to rivals and most of its customers have deflected to Research In Motion Ltd., maker of the BlackBerry device. Furthermore, Apple ...
by Kay Murchie
As the US heads towards recession, Caterpillar has reported an increase in quarterly profit on strong international sales.
Profit in the last quarter of 2007 rose 11% to $975 million (£490 million), with revenue increasing by 10% to $12.14 billion helped by a weak US dollar that makes American products more affordable.
The US construction-equipment maker said it expects resilient overseas ...
by Kay Murchie
Significant falls across worldwide markets can mean bad news for many, they can, however, bring selective share-buying opportunities for smart investors, according to Alliance Trust, the share dealing specialist.
Alliance Trust has announced that its customers can now buy shares online for a discounted rate of £10 commission until the end of the month.
As the current volatility in stock market forces down ...
by Kay Murchie
Following the smoking ban, falling consumer confidence and increasing costs, the pub trade has been struggling but brewer and pub operator, Marston’s, continues to increase its share in a weak market.
However, chief executive Ralph Findlay said our high-quality pub estate is well situated to exploit favourable market trends including the growth in casual dining. However, he added that he is ...
by Kay Murchie
Icap, the world’s largest inter-dealer money broker, saw its shares surge 14% following an increase in sales following the events of the global credit squeeze.
Shares in the company rose 82p to 666p valuing the company at £4.3 billion. The stock has soared 30% over the last 12 months as many other financial and investment institutions have taken a ...
January 25, 2008
by Elaine Frei
Crude oil prices rose in New York and London Friday as initiatives to stimulate the US economy provided some optimism that recession, and a decline in oil demand, can be avoided.
At just before the close of floor trade on the New York Mercantile Exchange, West Texas Intermediate crude March contracts had added $1.39 to $90.80 per barrel, while Brent ...
by Stewart Douglas
Russia and Serbia have today signed an historic agreement for the management of Serbian energy supplies, in a move that has further consolidated Russia's dominance in the Baltic energy markets and supply of energy throughout Eastern Europe.
The agreement reached today by the government of Serbia and Gazprom, the state-owned Russian energy giant, will allow the Russians to run gas pipes from ...
by Elaine Frei
Equities markets in the Asia-Pacific region were higher on Friday on the news that US legislators and the Bush administration have reached an agreement on a stimulus package meant to revive the US economy by giving rebates to millions of taxpayers in an effort to get them to spend more money. Both the House of Representatives and ...
by Elaine Frei
The yen ended the week down against the euro, the Norwegian krone and the Australian dollar as investors became more willing to sell their yen to enter into carry trades once global equities markets started to gain back losses and risk looked more enticing.
However, the yen gained on the euro during the day Friday as it traded at ...
by Stewart Douglas
Independent brewery group Scottish & Newcastle has today announced that it has reached agreement with Carlsberg and Heineken on the terms of a £7.8 billion takeover deal, which will see the company split up into different divisions allocated amongst Carlsberg and Heineken respectively and sees the culmination of weeks to hostility and rejection at the initial proposals.
The UK's largest brewer ...
by Kay Murchie
As household finances are squeezed, shoppers are turning to discount stores such as Aldi and Lidl.
In a satisfaction survey compiled by consumer campaign group, Which?, the two stores were placed well ahead of the big 4 supermarkets who include Asda, Morrisons, Sainsbury’s and Tesco.
German-owned chains, Aldi and Lidl, offer a no-frills approach which is even appealing to the ...
by Kay Murchie
Ryanair, has increased its charges for baggage and airport check-in for all new bookings.
The increase in charges is part of its continued drive to encourage passengers to travel without checked in bags and use Ryanair’s free of charge internet check-in.
Its fees for placing items in the plane’s hold have increased from £5 to £6 per bag whereas the cost of checking in ...
January 24, 2008
by Stewart Douglas
Global mobile phone handset manufacturer Nokia has announced market-beating profit figures over the final quarter of 2007, as it continues to increase its marketshare throughout emerging markets whilst managing to consolidate sales across more established regions in spite of the downturn in consumer spending and pressures on retail sales.
The Finland based firm has grown its manufacturing operation across continents over the last few ...
by Stewart Douglas
The potential takeover of independent brewery group Scottish & Newcastle was given a lifeline today after the Takeover Panel granted a 24 hour extention to the bidders to finalise their next proposal following the commencement of talks earlier in the week regarding a potential 800p per share bid.
The takeover interest from brewing giants Heineken and Carlsberg has been ongoing for some months, ...
by Elaine Frei
Most Asia-Pacific equities markets were higher again on Thursday after US legislators said they are close to agreeing on an economic stimulus package and on the news that China’s economy grew by 11.2 percent in the fourth quarter. There were declines, however. In India, the Sensex dropped 2.12 percent to 17,221.74. Meanwhile, the Hang Seng index dropped ...
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