On Monday, Royal Caribbean Cruises Ltd. announced a bleak forecast, stating that it expects full-year fuel expenses to be US$0.12 per share at today’s oil prices. This is 45% higher than the Company’s previous forecast reported in April. The announcement adds to another gloomy forecast reported by Royal Caribbean Cruises earlier this month – due [...]
Enterprise Products Partners agreed yesterday to buy Teppco Partners LP for approximately US$3.3B, thus forming the biggest U.S. energy partnership. Enterprise Products Partners boasted that the takeover will provide it with a larger footprint, increase its earnings starting in 2010 and will yield at least US$20M in cost-saving. Combined, the partnerships will own nearly 48000 [...]
UK Says Economy Shrank by 2.4% in Q01 2009, Sharper than Previous Estimate of a 1.9% Decline and Worst Contraction Since 1958 Japan’s Jobless Rate Jumps to 5.2% in May from 5.0% in April, Highest Level in Almost 6 Years European Inflation Posts First Annual Decline of 0.1% in June on Declining Energy and Food [...]
UBS AG to Pay As Much As USD 4.6B to Settle US Tax Probe Vodafone Considers Purchasing T-Mobile UK, Potentially Creating Biggest Mobile Phone Operator in the UK UK-Based Financial Companies Plan 13k in Job Cuts Even As Optimism Grows India’s Biggest Automaker, Tata Motors Ltd Announces Launch of Jaguar and Land Rover Brands in [...]
Nike Inc. shares have not been moving in the same direction as its swoosh, tumbling more than 10% since the close of last week. It recently reported a 12% global decline in forward orders through November, worse-than-expected. Nike also warned that 2010 would be difficult, particularly the first half of the year, overshadowing its better-than-expected [...]
Hennes & Mauritz (H&M) AB, Europe’s second-largest clothing retailer, announced yesterday a 6% profit increase, beating 2nd quarter forecasts. Net income for the quarter ended May 31, 2009 jumped to EUR 379M, up from EUR 356M, a year earlier and ahead of analysts’ forecasts of EUR 375M. H&M also stated that currency swings were becoming [...]
UBS AG Raises USD 3.5B of New Capital in Share Sale, Expects Losses to Continue in Second Quarter Global Mergers and Acquisitions (M&A) Drop More Than Half in Second Quarter in 2009 (Q02 2009), the Slowest Q02 in Six Years China’s National Development and Reform Commission Likely to Block Hummer Acquisition by Local Firm, Sichuan [...]
Unconfirmed reports are emerging that pop giant Michael Jackson is Dead, after suffering a cardiac arrest earlier this afternoon at his Holmby Hills home in California. It’s being said that paramedics were unable to revive him and that when they arrived on the scene, Jackson had no pulse and that they were never able to [...]
Though there is talk that the U.S. and Europe are emerging from the recession, Japan certainly has not yet gotten over it. Japan, with the world’s second largest economy, saw exports slump once again in May, falling 40.9% YOY, even more than April’s 39.1% decline. This was worse than the expected 39.3% fall as consumers [...]
Yesterday, for the first time in two years, the Organization for Economic Cooperation & Development (OECD) upgraded its estimate for the economy of its 30 member nations. The OECD now expects that the combined economy of the world’s most advanced countries will contract 4.1% in 2009 and grow 0.7% in 2010. This is an improvement [...]