China hopes for “fair” Australia investment policy September 4, 2016 China said today that it hopes Australia can provide a fair environment for foreign investors, following its first meeting with the Australian government since security concerns prompted it to derail a major energy infrastructure deal. After a meeting on the sidelines of a G20 summit, Chinese president Xi Jinping said he "hopes the Australian side continues [...]
Dollar bounces back after US non-farm payroll falls to 151,000 in August September 2, 2016 The number of new job openings in the US fell to 151,000 in August, down from 255,000 the month before – missing economists' expectations of 180,000. Unemployment held at 4.9 per cent, figures published today showed – against expectations of a fall to 4.8 per cent. The disappointing figure pushed the dollar 0.4 per cent down against the [...]
Ireland agrees to appeal against €13bn Apple tax repayment demand from EU September 2, 2016 Ireland's coalition government has agreed to appeal against a multi-billion-euro back tax demand that the European Commission slapped on iPhone maker Apple earlier this week, after independent members of the Cabinet gave their backing. "A motion will come before the Dail (the Irish parliament) on Wednesday seeking an endorsement of that decision," a government spokesman said. On Tuesday, [...]
Dollar falls as US manufacturing sector shows surprise contraction in August September 1, 2016 We've missed the hat trick: after this morning's purchasing managers' indexes (PMIs) for manufacturing in the Eurozone and UK both beat expectations, this afternoon's US equivalent was a rather damper squib, with the country's factories sector posting a surprise contraction in August. The Institute of Supply Managers' PMI for economic activity in the manufacturing sector fell to [...]
Vera Bradley shares climb on expectation beating earnings and licensing agreements September 1, 2016 US luxury handbag and accessories maker Vera Bradley has posted a solid performance, despite the strong dollar causing problems for other high-end retailers. Shares climbed by more than three per cent following the US market open in New York, though are down some five per cent in the year to date. Net revenues totalled $119.2m (£89.8m) for the second quarter [...]
Campbell’s shares slump in the pre-market after “disappointing” results September 1, 2016 Consumer demand for fresher produce is putting the squeeze on the world's largest maker of soup, Campbell's. The soup brand has posted a net loss attributable to the company of $81m (£61m), or 26 cents per share, compared with a profit of $17m a year earlier. Net sales dipped 0.35 per cent to $1.69bn in the fourth quarter ended [...]
Growth in the Eurozone’s manufacturing sector fell to a three-month low in August September 1, 2016 Growth in the Eurozone's manufacturing sector fell to its lowest in three months in August, as jitters over Brexit continued to take their toll. Markit's latest purchasing managers' index (PMI) for the sector fell to 51.7 – any figure above 50 denotes growth. The figure pushed the euro down against the dollar. In early trading [...]
Taptica shares soar on rising mobile advertising spend August 31, 2016 Mobile ad firm Taptica shares have rocketed after the firm posted what it called a “record” year. Shares in the company closed up 19 per cent yesterday as revenue leapt by 53 per cent to $51.8m (£39.4m) in the first half. Gross profit almost doubled to $17.8m, up from $9m in the same period last year. [...]
First US commercial flight to Cuba in more than 50 years lands August 31, 2016 The first US commercial flight to Cuba in more than 50 years has landed in Santa Clara, in a symbol of improving relations between the two nations. JetBlue Flight 387 landed in Santa Clara after taking off from Fort Lauderdale, half a century after the last commercial flight as tension arose during the Cold War. Diplomatic [...]
Ouch: Eurozone inflation misses expectations as unemployment sticks at five-year low August 31, 2016 We're not angry, we're just disappointed. Eurozone inflation stayed decidedly flat in August, rising just 0.2 per cent during the month – missing expectations of a rise to 0.3 per cent. It's a mark of quite how quiet the City is that it had almost no effect on the euro, which held steady at $1.1147 [...]