New York Report: S&P notches a third record close in a row July 22, 2013 THE S&P 500 notched a third consecutive record closing high yesterday and other major indexes rose, though disappointing McDonald’s earnings kept the Dow from making significant gains. Banks and health shares were the day’s best performers, with financials advancing for the 10th time in the past 12 sessions. Bank of America led the group, while [...]
McDonald’s struggles in October November 8, 2012 McDonald’s yesterday reported a 1.8 per cent drop in October sales at established restaurants around the world, its first monthly sales fall since March 2003, hurt by stiff competition in a weak economy. Analysts, on average, expected a 1.07 per cent decline in sales at restaurants open at least 13 months, according to Consensus Metrix. [...]
Five facts about the modern world that will make you think October 23, 2013 1 IN the US, over 8,000 waiters have PhDs or equivalent qualifications, as have 5,057 cleaners. Roughly 317,000 waiters have university degrees, as have 80,000 bartenders and 18,000 parking attendants. These figures have been highlighted by Richard Vedder of the University of Ohio, and are based on official statistics from 2010; today’s situation is unlikely [...]
Starbucks sees boost from its American sales July 25, 2013 STARBUCKS posted a bigger than expected jump in quarterly profit last night, after new beverages raised sales in its US stores. The world’s biggest coffee chain also raised its full-year profit forecast, sending shares soaring almost six per cent in after-hours trading. Seattle-based Starbucks’ position at the premium end of the coffee market means it [...]
Bottom Line: Business is about more than just money August 4, 2013 FAT Charlie – the 1950s hat-wearing mascot – will live on under the terms of the deal struck yesterday between Little Chef owner Rcapital and its new owner Kout. Interestingly the private equity firm said that it chose Kout, not for the amount of money it was offering, but because it was the sole bidder [...]
Wall St The Week Ahead: Market likely to slow down after earnings August 4, 2013 WITH earnings season winding down and the employment report out of the way, the US stock market is likely to shift into a lower gear this week. The earnings season so far has been largely positive with more than half of the companies that have reported beating estimates. But cuts in outlooks from a number [...]
Global bond bubble will cripple all investors when it bursts July 28, 2013 THIS column has long highlighted the massive bubble in the global bond markets and the horrific, systemic risk it poses to the global recovery and financial system. A combination of ultra-low central bank short-term interest rates, massive amounts of quantitative easing (QE), regulatory-driven purchases of government bonds by financial institutions and Asian forex accumulation have [...]
New York Report: Apple is set to report in busy earnings week July 21, 2013 WALL Street is experiencing its best month since January and looks poised to extend the rally with a deluge of earnings this week, though significant gains may be harder to come by with major indexes at record highs. Eight Dow components and Apple are among the companies that will report in one of the busiest [...]
The recession is a distant memory in the White Isle September 15, 2013 Two million visit Ibiza every year. Many come for the clubs, but there’s more to it than beats IT IS a hot and sultry night on the east coast of Ibiza. Above my head a huge white crane has stretched out its long steel arm, carrying with it a circular frame resembling an oversized seventies [...]
Cheap money is fuelling the stock market’s dramatic bounce May 10, 2013 FOR the first time ever, the Dow Jones has closed above 15,000, in a major boost for investors everywhere. Remarkably, the index was at 14,000 just 66 days ago and is now up by 129 per cent since the 2009 trough, in a striking demonstration of the speed and scale of the bounce-back. With the [...]