US corporate results round up October 30, 2014 MASTERCARD MasterCard reported a better-than-expected 15.5 per cent jump in quarterly profit as efforts to expand its international business paid off, with more people willing to use cards instead of cash. MasterCard’s worldwide purchase volume, excluding the US, grew 12.8 per cent to $554bn (£345bn) on a local currency basis in the third quarter. The [...]
Strike a light as BAT is pounded July 30, 2014 BRITISH American Tobacco (BAT) has become the latest UK company to have its performance hit by sterling’s rise in value as it reported a drop in revenue and profit during the six months to 30 June. Both the strength of the pound and a slight decline in volumes took a toll. Excluding the impact of [...]
Morgan Stanley’s first-quarter results just beat expectations April 20, 2015 Morgan Stanley has followed in the footsteps of rivals Goldman Sachs and JP Morgan with a better-than-expected set of first quarter results, which further signal the revival of the struggling investment banking sector. It said net income jumped to $2.31bn (£1.55bn) in the first quarter of 2015, compared to $1.45bn a year earlier. This works [...]
Top economist warns of repeat taper tantrum March 17, 2015 International Monetary Fund chief Christine Lagarde yesterday warned that emerging markets were at risk of another taper tantrum if the US opted to hike interest rates this year. Taper tantrum is a term that was coined to describe the mild financial market panic that ensued when the then Federal Reserve chairman Ben Bernanke said the [...]
The EU is dead: The Grexit crisis has laid bare Europe’s inability to rescue itself June 21, 2015 Jumping the shark” is one of my favourite American idioms. It was first used in the context of a particularly notorious episode of the 1970s classic US television show Happy Days, which centred on the unlikely but enduring friendship between a young, square, 1950s good guy, Richie Cunningham, and his cool, but from-the-wrong-side-of-the-tracks ally Fonzie. [...]
“Toxic” General Election to hit pound hard: Experts predict sterling will slump in value – but traders can profit April 21, 2015 Election uncertainty has begun to take its toll on sterling. After the leaders’ debate last week – which appeared to make the prospect of a coalition government less likely – the pound weakened. Since the start of the year, the pound has fallen 4.4 per cent versus the dollar, and now some strategists are predicting [...]
Greek voters will support the creditors – and Syriza will fall July 1, 2015 Monaco – Being away from the din of daily life has its advantages. Presently, I’m at the wonderful Fund Forum International Conference in Monaco, having designed several war games to play with the attendees, which illuminate how geopolitics can impact investment decisions. Beyond enjoying new and insightful company, a startling clarity – achieved only by [...]
China’s equity markets have rocketed: Bubble waiting to burst or the market unleashing its true potential? June 18, 2015 China's equity markets have rocketed – is this a bubble waiting to burst or the market unleashing its true potential? China is a world of contradiction for investors. With its billion-strong population and the second-largest economy in the world, it should have been a marvellous place for investment. Not so. The giant economy [...]
Burberry share price falls as the group lowers its outlook for 2016 May 20, 2015 Shares in Burberry fell more than 5.4 per cent this morning after the iconic British brand lowered its guidance for the full year, saying wholesale and retail profit for 2016 would come in around £40m below expectations. The figures Underlying revenues at luxury brand Burberry rose 11 per cent to £2.5bn in the full year to [...]
Twin threats of Brexit and Scoxit will mar a good result for the City May 10, 2015 “Were you up for Balls?” Or more likely, “were you up in time for Balls?” Reminiscent of “were you up for Portillo in 1997?”, former shadow chancellor Ed Balls’s loss of his seat was one of the most memorable moments in an astonishing General Election which will have far reaching implications for the country. It [...]