Brewers report disappointing first quarters May 7, 2014 CARLSBERG and Anheuser-Busch InBev both reported disappointing results yesterday as Carlsberg cut its earnings forecast on the back of political tensions in eastern Europe while AB InBev reported a 24 per cent drop in net profit due to increased marketing spend on the World Cup. Carlsberg, the maker of Tuborg and Kronenbourg 1664, is the [...]
Dreary April as Bric economies dip May 7, 2014 ALL FOUR of the Bric economies recorded some mild contraction in their private sectors last month, according to an influential survey of businesses released today. According to HSBC’s latest emerging markets index, firms in Brazil, Russia, India and China all reported a modest drop in business activity, with scores slightly below the neutral 50 level. It [...]
Letters to the Editor – 08/05 – Housing crisis, European defence, Best of Twitter May 7, 2014 Housing crisis [Re: An inconvenient truth about Britain’s growing housing crisis, yesterday] I’m glad you acknowledge the importance of understanding the figures when talking about the housing crisis. Empty property exaggerations are just the start. What of Labour’s posturing about landbanking, allegedly largely responsible for low building rates? As City Hall has shown, three quarters [...]
How Europe can cope without the Ukraine gas pipeline this winter May 7, 2014 Amid growing fears that Ukraine is heading towards a civil war, concerns about the security of gas supplies have risen too. Russia supplies around 25 per cent of Europe’s gas, with around 40 per cent of this coming through Ukrainian pipelines. With Russia hiking the prices Ukraine pays for gas – and of course the [...]
What you need to know before the US open May 6, 2014 Futures suggest a slightly higher open for US markets, following more optimistic export figures for March. Exports gained two per cent last month – from $190bn in February to $193.9bn – suggesting the slide seen in the first two months of the year tailed off. There’s little else in the way of data today, though, with analysts [...]
New York Report: US shares rise as Apple stocks top $600 mark May 5, 2014 US stocks ended slightly higher yesterday as data showed strength in the services sector and Apple shares rose above $600 for the first time since 2012. Limiting the day’s gains, however, were concerns over an escalation of tensions between Ukraine and pro-Russia separatists. Ukrainian forces were ambushed by separatists, triggering heavy fighting on the outskirts [...]
Blame Europe’s 70 year holiday from history for the West’s terrible decline May 5, 2014 THE US public has had it with being the world’s policeman. An April 2014 NBC/Wall Street Journal poll found that only 19 per cent wanted America to engage in a more activist foreign policy. Fully 47 per cent wished the US to conduct a less activist policy, a camp that has quadrupled in size over [...]
What you need to know before the US open May 1, 2014 A flat open’s expected for US stocks today, as market digest the mixed variety of economic data and earnings reports coming in. Initial jobless claims were higher than expected for last week. 344,000 people signed up for unemployment benefit in the US – analysts expected 319,000, following 330,000 the week before. Personal spending rose 0.7 [...]
What the other papers say this morning – 01 May 2014 April 30, 2014 FINANCIAL TIMES Credit Suisse execs clashed on probeThe former head of Credit Suisse’s private bank for the Americas told government investigators he had clashed with superiors about the bank’s disclosures to a tax evasion probe, said people with direct knowledge of the situation. The claim suggests there was disagreement at senior levels of Credit Suisse [...]
Tobacco giant BAT’s revenue drops by 12pc April 30, 2014 BRITISH American Tobacco saw its declining sales ease off during the first quarter, but revenues were hit by unfavourable foreign exchange rates. The world’s second largest cigarette maker yesterday reported tobacco volumes, which measures total quantities sold, fell one per cent to 158bn sticks during the three months to the end of March – an [...]