US Federal Reserve Earns USD 14B in Profits on Loans Issued over Past Two Years Eurozone Consumer Prices Fall 0.2% Year-Over-Year in August, Less than Economists Predicted India’s Economic Growth Speeds Up for First Time Since 2007, Growing 6.1% in June Quarter versus 5.8% in Previous Quarter General Motors Corp Enters USD 293mm Joint Venture [...]
Despite reporting just a few weeks ago that it had emerged from recession, Japan failed to reproduce the same kind of good news with its latest economic data reports. The world’s second largest economy saw its unemployment rate rise to a record high of 5.7% in July, surpassing the previous high of 5.5% which was [...]
While the past year hasn’t exactly been easy for Tiffany & Co, the luxury jewelry maker looks to be regaining its luster. Yesterday, Tiffany & Co. reported that it more than doubled earnings per share (EPS) to US$0.46 in Q02 2009 when compared to the first quarter of the year. The improved performance was helped [...]
An improved investment banking performance, fewer write downs and increased revenues helped Credit Agricole SA turn things around in the quarter ended June 30, 2009. France’s top bank (in terms of assets) reported that it more than doubled its second quarter net profit to EUR 201M from EUR 76M, trumping analysts’ estimates of EUR 174.1M. [...]
Apple Inc and Mobile Service Provider China Unicom Ltd Signs Deal to Bring iPhone to China, the World’s Largest Mobile Market, Phones Set to Go on Sale in Fourth Quarter UK’s Gross Domestic Product (GDP) Shrinks Less-Than-Expected in the Second Quarter to a Revised Fall of 0.7% Compared with 0.8% in the Previous Quarter Second [...]
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Tagged American International Group Inc, Apple Inc, China Unicom, General Motors, Japan Unemployment Rate, Nan Shan Unit, Overnight Market News, Overnight Markets, UK GDP, UK Gross Domestic Product, UK House Prices
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Advertising giant, WPP PLC released results for its first half of 2009, and described the effect of the recession on its bottom line as “severe”. The company saw profits nosedive 47% to GBP 179M (US$ 292M) as global advertising revenues plummeted on cost-cutting strategies by firms. WPP on the other hand, sought to cut jobs [...]
The good news just keeps on coming for Germany. Two weeks ago, Europe’s biggest economy gave investors and economists something to smile about, after making an unexpected exit from the recession. To top things off, yesterday, Germany’s Ifo Institute said that business confidence in the nation surged in August to its highest level in just [...]
Economists Expect US Commerce Report to Show that the Economy Shrank at an Annualized Rate of 1.5% in Q02 2009 vs US Government’s Projection of a 1% Contraction French Bank, Credit Agricole SA More than Doubles Second Quarter Net Income to EUR 201mm (USD 286mm) on Fewer Writedowns Spirits-Maker, Diageo PLC Posts 7% Increase in [...]
Unfortunately for Staples Inc., cutting back on expenses such as office supplies has been at the top of companies’ to-do lists since the onset of the global recession. This curtailed demand helped contribute to a 38% dive in profit for Staples’ second quarter ended August 1, 2009. Net income at the world’s biggest office products [...]
Despite consumers feeling the pinch of the recession, Burger King managed to raise its fourth quarter profits by 16% to US$58.9M. This was helped by a decline in food and paper prices, as well as the expansion of Burger King’s overseas franchise. In the quarter, Burger King opened an additional 338 international locations, as sales [...]