Peking over the top of China’s Great Currency Wall March 29, 2011 THOUGH there is constant talk of China’s rise, currency investors often find themselves frustrated by the apparent wall between them and the Chinese currency. However that doesn’t mean that those wishing to take a position on China’s currency, the renminbi (RMB) are without options. On first inspection, the Chinese currency seems as rigidly controlled as [...]
Defensive sectors support US market April 14, 2011 STOCKS that outperform in a weak economy helped buoy the Dow and S&P 500 yesterday as concerns about faltering growth and inflation prompted investors to seek out less volatile names. Energy shares also rallied as US crude gained more than one per cent. The S&P 500 fell almost one per cent early but found support [...]
P&C profits down despite sales volume growth January 27, 2011 Household products maker Procter & Gamble followed rival Colgate Palmolive in posting lower profit for its second-quarter trading as rising commodity costs and low revenue growth hurt performance. The Gillette brand owner earned $3.33bn (£2.1bn), in the three months from October to December – a 28 per cent decline from $4.66bn, or $1.49 per share, [...]
Colgate and P&G report sluggish sales January 27, 2011 Procter & Gamble (P&G) and smaller rival Colgate-Palmolive were both hurt by sluggish sales in the US and Western Europe. P&G says it remains confident and expects shoppers to buy new, higher-priced products as the year progresses. Chief executive Bob McDonald said: “We believe that we’re in the midst of a recovery”. Profits at both [...]
Smoothies helped to boost McDonald’s sales last month August 9, 2010 McDonald’s yesterday reported a better-than-expected seven per cent global increase in sales at established restaurants in July, fuelled by new drinks like smoothies, extended hours in Europe and strength in Asia. July sales at McDonald’s restaurants open at least 13 months rose 5.7 per cent in the US, boosted in large part by its recently [...]
Businesses back work drive January 24, 2011 A government drive to get more young people into employment through work experience has been welcomed by business groups. Firms including Homebase and McDonald’s pledged to offer placements to unemployed 18 to 21-year-olds. CBI director of employment policy Katja Hall backed the drive: “No experience is more valuable to a young person looking for a [...]
Nord Gold plans to raise £1bn in IPO January 27, 2011 RUSSIAN mining group Severstal’s gold unit Nord Gold is seeking up to £933m from a London float, that would see the firm valued at up to £2bn. The conglomerate announced it would spin out its mining arm, a gold producer focussed on emerging markets, earlier this month. Nord Gold is expected to begin trading in [...]
Leading firms to pledge jobs January 9, 2011 TOP British business leaders will today pledge to create thousands of jobs in the UK. The heads of leading British firms will meet today with Prime Minister David Cameron at Downing Street to discuss job creation in the private sector. Representatives from supermarket giants Asda, J Sainsbury, Tesco and Wm Morrison will join Marks and [...]
WHAT THE OTHER PAPERS SAY THIS MORNING April 14, 2011 FINANCIAL TIMES BOSCH WARNS JAPAN CRISIS WILL SLOW GLOBAL GROWTH The impact of last month’s Japanese earthquake will cut global economic growth by a quarter of a percentage point and could put a big dent in planed increase in car production this year, the head of the world’s largest car parts supplier warned. Franz Fehrenbach, [...]
McDonalds warns euro will hurt full-year profits June 8, 2010 MCDONALDS reported a stronger-than-expected 4.8 per cent rise in worldwide May sales at established restaurants yesterday, but warned it expects a weak euro to take a bite out of its full-year profits. Roughly a quarter of McDonald’s consolidated operating income originates in countries that use the euro currency, the world’s biggest hamburger chain said yesterday. [...]