McDonald’s revenues miss expectations as European sales remain suppressed July 22, 2013 McDonald’s has reported second quarter revenues of $7.08bn, or $1.38 per share, missing analyst expectations of $1.41 per share (release). Year-on-year, second quarter revenues were up 2.4 per cent, and earnings per share rose by seven per cent. Net profits were up five per cent to $1.40bn. In the US, comparable sales were up one [...]
Regulator fines high frequency trader nearly £600,000 for market manipulation July 22, 2013 For the first time ever, the Financial Conduct Authority (FCA) has taken action against a high frequency trader, and fined the US professional £597,993 for "deliberate manipulation of commodities markets". Michael Coscia is said to have placed false orders for Brent Crude, Gas Oil and Western Texas Intermediate (WTI) futures from the US on the [...]
Portuguese prime minister will reshuffle cabinet further and make Portas right hand man July 22, 2013 Portuguese prime minister Pedro Passos Coelho has reaffirmed his intention to reshuffle the cabinet following assurances from president Anibal Cavaco Silva that early elections would not be called to help him push through the austerity programme. Coelho also confirmed speculation by saying it was his intention that junior coalition partner Paulo Portas would be made [...]
The value of money has plummeted by two-thirds since Prince William was born July 22, 2013 Inflation has caused the value of money to fall dramatically since the year of Prince William's birth, in 1982. £100 in 2012 would be worth as much as £299 back then, according to research by Lloyds TSB Private Banking. The Cambridges may be thankful that they aren't toying with the property ladder, as the average [...]
Shell to ramp up production with two new deepwater projects July 22, 2013 Shell has announced that it will be moving forwards with two new deepwater projects at at Parque das Conchas and the Bijupirá/Salema fields (release). John Hollowell, executive vice president for Deep Water, Shell Upstream Americas: Offshore Brazil is a key part of our plans to grow our deepwater portfolio – a key component of our [...]
Portuguese prime minister’s commitment to bailout programme sends bond yields plummeting July 22, 2013 Portugese prime minister Pedro Passos Coelho has said the political crisis gripping his country has damaged confidence, and called for political unity. Coelho was referring to the disquiet over austerity policies imposed as a condition for bailout from international lenders, which lead to the dramatic break up of his coalition government earlier this month and [...]
Dividend payouts from British companies enjoy record quarter (but growth is slowing) July 22, 2013 Dividend payouts by British firms hit its largest ever quarterly total of £25.3bn in the second quarter of 2013, with media, financial services and food producers all reporting double digit dividend growth. But Capita Registrars, who conducted the research, says growth is slowing, revising down its expected underlying dividend growth to 7.7 per cent from [...]
Mothercare shares see boost from Royal Baby fever July 22, 2013 Toddler chain Mothercare has seen its share rise this morning to as much as 474.25p (from a previous close of 466.5p) as news of the Duchess of Cambridge entering labour has broken. The company, which has produced a line of prince and princess themed products, is expected to benefit from a boom in baby interest. [...]
UK has joint seventh highest national debt-GDP ratio in EU (with Spain) July 22, 2013 Government debt in eurozone countries rose to 92.2 per cent of gross domestic product (GDP) in the first quarter of 2013 – up from 88.2 per cent in the previous year (release). At the end of the quarter, securities other than shares made up 77.1 per cent of euro area general government debt, while loans [...]
Philips chief executive expresses concern over global economy even as cost cutting pays off July 22, 2013 Dutch healthcare, lighting and consumer appliances group Philips has reported a tripling of second quarter net profits compared to a year ago thanks go cost saving and a jump in sales (release). Net profits were up to €317m compared to the €102m in the same period the year before, with revenues up two per cent [...]