Nike profit rises as sales of higher-margin products jump September 24, 2015 Sportswear giant Nike yesterday posted better-than-expected earnings and revenue, sending its share price up. On the back of selling more high-margin basketball shoes and clothing, Nike net income rose to $1.18bn (£774m), or $1.34 per share, in the first quarter ended 31 August, from $962m, or $1.09 per share, a year earlier. Revenue rose 5.4 [...]
Manufacturing in the US hit by oil price collapse September 24, 2015 Orders of US long-lasting manufactured goods dropped two per cent in August, with firms that produce capital goods still feeling the bite of cheap oil and a strong dollar. The fall was mainly due to a dip in the volatile transport category, the US commerce department said yesterday. However, underlying trends that exclude volatile goods [...]
Eurozone investors and businesses shrug off global fears in September September 24, 2015 Business and investor confidence is holding up in the Eurozone, despite volatility in global markets and fears over Chinese growth. The IFO business climate index published yesterday, which measures German business sentiment, rose to 108.5 in September, despite analysts predicting it would fall to 108. German companies reported greater optimism about future business developments, suggesting [...]
Norway cuts interest rates to a record low September 24, 2015 Norway’s central bank yesterday cut its headline interest rate for the second time this year to a record low of 0.75 per cent and signalled rates could go even lower. The Norges Bank said it saw “weakened growth prospects for Norwegian economy” and weaker prospects for inflation. The bank added that “the policy rate may [...]
Ditching fossil fuels shares exposes investors to a greater level of risk September 24, 2015 FOSSIL fuel divestment is hitting investor returns and exposing them to greater risks, according to a study by consultancy Europe Economics. Investors boycotting gas, oil and coal stocks must choose between sacrificing an annual return of 0.68 per cent or exposing themselves to 20 per cent more risk. A £1,000 investment in 2002 in the [...]
Demand in US for new homes jumps in July September 24, 2015 New home sales in the US climbed strongly in August, indicating that the housing market is strengthening and that consumers are in a confident mood. Sales rose at an annual rate of 552,000, up 5.7 per cent on July, according to figures released by the commerce department yesterday. The annual rate is now the highest [...]
City Moves for 25 September 2015 | Who’s switching jobs September 24, 2015 LIONTRUST The fund management group has announced the appointment of Antonio Forte to its international sales team. He joins from Skandinaviska Enskilda Banken, and has also held positions at Luxgest Asset Management and Philip Morris International. PWC Andrew Claymore has been appointed director in the professional services firm’s financial services corporate finance team. He was [...]
Caterpillar and pharma weigh on Wall Street – New York Report September 24, 2015 US STOCKS closed lower yesterday in a volatile session caused by uncertainty about monetary policy and global economic growth after market heavyweight Caterpillar cut its sales forecast and healthcare investors fled for the exits. The Dow Jones industrial average fell 77.43 points, or 0.48 per cent, to 16,202.46, the S&P 500 lost 6.4 points, or [...]
A good ancestor: Firms need to take a long, hard look at legacy September 24, 2015 Here in Britain, this year we have been enjoying celebrating 800 years since King John signed Magna Carta. It is the foundation stone for constitutions the world over – and somewhat dwarfs my native New Zealand’s 180 years of constitutional history. The Magna Carta was nothing less than a catalyst which has inspired people [...]
Why London could afford to introduce a much higher National Living Wage September 24, 2015 The chancellor's introduction of a new National Living Wage, which will raise the wage floor by 50p to £7.20 an hour for over-25s from April, is a dramatic break from the last two decades of policy. Whereas previously it had been set by the Low Pay Commission at the highest level that wouldn’t increase [...]
