Being offensive made Donald Trump’s campaign: Now it’s killing it August 4, 2016 The world is watching Donald Trump, unhinged. Not to suggest he’s been particularly level-headed up until now. From his entry into the primaries last year to the Republican National Convention two weeks ago, Trump has walked a fine line between humour, sarcasm, and challenges to the politically-correct status quo and, every once in a while, blatant [...]
Kellogg’s profit snaps, crackles, and pops up August 4, 2016 Corn Flakes and Rice Krispies maker Kellogg's has pushed up its 2016 profit forecast after saving more than expected from its cost cutting measures. In 2013 Kellogg laid out plans to save $475m annually by 2018 by cutting jobs and production costs. Kellogg’s sales costs fell 11.5 per cent to $2bn in the second quarter, [...]
Burger King owner dines out on meal deals and refreshed menu August 4, 2016 Restaurant Brands – the owner of Burger King – is struggling to hold its own in the fast food wars. Revenue unexpectedly fell in its latest quarter as exchange rates dragged on profit and sales slowed at existing venues. Despite luke-warm sales, the company managed to increase earnings by cutting costs. Total revenue in the quarter [...]
SeaWorld backlash drags on its earnings as turnaround continues August 4, 2016 Controversial theme park operator SeaWorld Entertainment has missed earnings expectations for its eleventh quarter in a row. SeaWorld reported second-quarter earnings of $17.8m, or 21 cents a share, from $5.8m in the same period a year ago. Revenue fell to $371.1m from $391.6m, missing the analyst consensus of $375.2m, as attendance declined 7.6 per cent. [...]
China warns EU steel tariffs will hurt the bloc’s manufacturers August 4, 2016 China warned that fresh EU anti-dumping tariffs on its steel imports would hurt part of the struggling region's already struggling manufacturing sector. It comes after the European Commission said today that it would levy retroactive anti-dumping duties on imports of certain cold rolled steel products, used in the construction and automotive industries. Read more: Union calls on [...]
All bets are off as Trump Taj Mahal casino closes after years of losses August 4, 2016 One of the eponymous casinos founded by the controversial US republican nominee Donald Trump is shutting its doors after years of losses. Trump Taj Mahal in Atlantic City, which is no longer owned by the billionaire businessman, is closing in the wake of a crippling strike. Read more: Why this high-ranking London-based asset manager supports Donald Trump Its current [...]
Crocs’ revenue fall leads to share sell-off August 3, 2016 Crocs – the US maker of lightweight clogs – left investors wrong-footed yesterday after reporting a slide in sales and a disappointing outlook. Revenue fell six per cent to $324m (£243m) from $345m a year ago, below the consensus estimate of $348m. Net income came in at $15.5m, or 13 cents a share, slightly higher [...]
SodaStream’s sales fizz after brand overhaul August 2, 2016 Sodastream – an Israeli company which makes home carbonating devices – is sparkling after working to reposition its brand. The company has shifted away from sugary drinks and into sparkling water as consumers turn towards healthier food and drinks. Sodastream’s net income bubbled up to $7.8m, or 37 cents a share, from $3.5m in the second [...]
Hyatt Hotels’ income hits suite spot as revenue per available room up August 2, 2016 Hyatt Hotels has beaten expectations with second-quarter net income of $67m (£50m). It reported earnings of 64 cents per share, surpassing analysts’ expectations of 47 cents per share. The US-based hotel operator posted revenue of $1.17bn in the period, meeting Wall Street forecasts. Its revenue per available room (RevPAR), a key performance metric for the [...]
Drop in pound and higher fuel prices weigh on Royal Caribbean August 2, 2016 Rising fuel prices and negative currency effects – notably from the fall in the pound – have forced Royal Caribbean Cruises to cut its full-year outlook. Despite the warning Royal Caribbean reported a profit of $229.9m (£172.6m), or $1.06 a share, up from $185m a year earlier. Revenue climbed 2.3 per cent, hitting $2.11bn compared [...]