Luxury firms should stop blaming macro trends for poor sales and become more sophisticated October 31, 2016 The latest batch of earnings reports from the luxury giants were showstoppers – with stunning double-digit gains from Kering, the owner of Gucci, versus no growth from Burberry. The polarised results raise the question: is it time for the luxury sector to move on from a tale of woe after the crackdown on Chinese consumption [...]
Optimism is a precious commodity October 31, 2016 It’s been a tough few years for the mining industry but the future is promising, says Jeffrey Couch. London is currently hosting much of the world’s metals community at LME Week, the industry’s most important gathering. This year’s event comes against a backdrop of significant change, whether at a global economic and geopolitical level or [...]
House of Fraser bond prices are under pressure as distressed funds circle October 30, 2016 The value of publicly traded debt issued by department store House of Fraser has fallen dramatically over the last week prompting fears of financial problems. Last year, the company issued £175m of bonds on the Luxembourg stock exchange as part of a £300m financial restructuring – the bonds mature in 2020. And the value of the bonds [...]
Chinese search engine Baidu reports dip in revenue and warns of further declines in the fourth quarter October 28, 2016 Shares in Chineses search engine giant Baidu have dipped by 2.1 per cent in out of hours trading after the company warned that revenue would decline further in the fourth quarter of 2016. The figures Revenue dropped 0.7 per cent to 18.25bn renminbi (£2.21bn), with mobile revenue representing 64 per cent of the total during the [...]
Blackstone Group tops third quarter results October 27, 2016 Blackstone Group has posted stronger than expected third quarter earnings as oil prices rebounded. Predictions by analysts from Reuters expected earnings of 48 cents per share, which were greatly exceeded. The results The world's largest asset manager said it earned an economic net income – a metric that accounts for unrealised investment gains or losses – of $687m (£562.2m) [...]
Brent crude price rises above $50 a barrel again on US stockpile data October 26, 2016 The price of Brent crude has risen back above $50 a barrel, after trading below the key threshold for a short time today. This was boosted by data from the US Energy Information Administration (EIA), released today, which showed domestic crude inventories fell 553,000 barrels last week, against a 1.7m barrel increase forecast by analysts. In late afternoon trading, [...]
Hilton stocks slide after it cuts its forecasts but says spin-offs on track October 26, 2016 Hilton Worldwide Holdings cut its full-year forecasts for the third time today, citing weak travel demand in the US and political uncertainty in Europe slashing demand. The hotel chain giant, which is in the process of turning itself into three separate entities, grew less than expected in the last quarter and issued a downbeat view [...]
Alibaba’s sports arm invests $100m into rugby in China and sets ambitious targets for growth October 26, 2016 Alibaba will invest $100m (£82m) into Chinese rugby over the next 10 years as part of a joint initiative with World Rugby to grow the game in the world's most populous country. Alisports, the sporting arm of e-commerce giant Alibaba, says it wants to bring 1m new players into the " great Olympic team sport" within the next [...]
Start with a blank canvas: How to invest in the art market October 26, 2016 For years the idea of purchasing art as an investment was frowned upon by purists in the art world – the two should be separate, like church and state. Art as investment is certainly not for everyone: the market is quite illiquid, prices can be volatile, and storage costs can outweigh profits. But as investors [...]
The devil you know, the devil you don’t: How to protect your investments whoever wins the US election October 25, 2016 As polling day draws near, it is regrettable that the contest to become the 45th President of the United States has been more about personality than policy. The campaign has been distinguished on one side by preposterous promises to suspend the entry of Muslims into the country and build a hard border with Mexico, and [...]