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Retailers Hope Discounts Post Christmas Will Help
This year the days that led up to Christmas Day were full of disappointing sales, many retailers hope that sales on products post-Christmas will entice shoppers that have become frugal. Forecasts for retail sales appear bleak after... More of this article »
Profit at Nike Exceeds Estimates
Nike Inc, the largest sporting goods business in the world, posted fiscal second quarter profit topping estimates of analysts as sales were boosted by higher priced footwear. Net income for the three months ending on November 30 increased... More of this article »
Lower Prices are Not Always a Good Thing
The number 2 is the number that policymakers in the U.S. Federal Reserve were hoping to see in 2013. With an annual inflation rate around 2%, it would confirm to them the economy in the U.S. was strengthening with workers receiving... More of this article »
Coca-Cola Splits North American Business
Coca-Cola has split its business in North America into two units. However, for investors to remain happy it might mean more measures that involve cost cutting be put in place. However, its changes in management have put Coke ahead... More of this article »
Industrial Output in Euro Zone Falls Sharply
The industrial output across the common currency euro zone dropped at its steepest rate for a month in over 12 months during October. This highlights the continued fragility of the region’s economic recovery and supports the case... More of this article »
Costco Misses Estimates
Costco Wholesale Corp, the largest warehouse-club chain in the U.S. reported its fiscal first quarter earnings on Wednesday, which missed estimates by analysts even as the chain’s sales increased as it was offering more discounts. Net... More of this article »
U.S. Sells Remaining Stock in General Motors
Officials from the Obama administration said they had not expected to recover the entire money they had pumped into automaker General Motors. The books were closed on the bailout of General Motors by taxpayer’s, when the remaining... More of this article »
Exports From China Increase More Than Expected
Exports from China were up more than had been expected for November, which in turn pushed the country’s trade surplus to its highest level in over four years, in a sign that global demand is sustaining a recovery in the second largest... More of this article »
WTO Reaches Deal on Global Trade
A first ever deal on trade reform was reached on Saturday by the World Trade Organization. When announced a roar of approval went up from the close to 160 ministers in attendance that gathered in Bali, the Indonesian island to decide... More of this article »
Private Sector Sees Increase of 215,000 Jobs
Payroll Processor ADP has announced that private sector payrolls not including farms, added more new jobs than had been expected during November. This indicates that employers in the private sector seemed little affected by the continual... More of this article »
Krispy Kreme Releases Fiscal Third Quarter Earnings
Doughnut chain Krispy Kreme announced that its profit for the third quarter grew by 34% as same store sales were higher and growth took place in franchise locations within the U.S. However, shares at the doughnut maker fell by 10%... More of this article »
November Sales Hit New Record for Chrysler, VW Falls
Chrysler Group announced that November sales for new vehicles were up more than 16% making it the best November for the U.S. automaker since 2007. The month was the 44th straight with sales gains. Chrysler said the long-delayed SUV... More of this article »
Sales on Black Friday Eaten Into by Thanksgiving
The first results of the Thanksgiving weekend holiday shopping is that by opening on Thanksgiving Day, retailers made Black Friday a bit less crazy. Overall, sales at brick and mortar stores on Thanksgiving and Black Friday were up... More of this article »
Prices for Whiskey Soar
Makers of whiskey in the U.S. are dabbling with new flavors in an attempt to lure in customers. However, the latest Michter’s Distillery introduction has broken into a new pricing stratosphere that might shake the entire industry. The... More of this article »
Unemployment in Germany at Highest Since Early 2011
Unemployment in Germany increased to its highest in over 30 months during November, showed new data just a day after Angela Merkel the Chancellor unveiled her coalition plans to roll back reforms that over the past decade were credited... More of this article »
Profits at Tiffany Top Estimates
Tiffany & Co has posted its profit for the third quarter. The earnings topped that of estimates from analysts. The company boosted its earnings forecast for the year as the stock market in the U.S. continues rising giving consumers... More of this article »
Workers at Walmart Battling in Court
Federal Officials are preparing a legal case to bring against the largest retailer in the world for its alleged retaliation against its employees who staged protests on Black Friday last year. The U.S. National Labor Relations Board... More of this article »
Higher Sales in Beef and Chicken Boost Tyson Profits
Tyson Foods Inc has reported a 28% increase in quarterly profit, which was better than expected, helped by an increase in beef sales and said it expected that meat production would increase during the current fiscal year. Shares of... More of this article »
Walmart Profit Increases for Third Quarter
Walmart said its profit for the third quarter was up by 2.8%, but the largest retailer in the world reported a shortfall in sales, as its shoppers with lower income feel a squeeze across the globe. The giant retailer also said it was... More of this article »
Starbucks Paying to Settle Dispute
Starbuck Corp. said it agreed to pay Mondelez International the amount of $2.79 billion as a settlement of a dispute over the bagged coffee business for the coffee shop behemoth. An arbitrator ordered the payment that consists of damages... More of this article »
Walmart Launching Sales for Black Friday Earlier
Walmart has become the most recent major retailer to announce earlier launch times for its Black Friday and weekend sales. The giant retailer said their Black Friday would start at dinnertime Thanksgiving on Thursday evening. Coming... More of this article »
Jobs Report Shows Unexpected Increase
Even though the federal government was shut down for 16 days during October, the economy in the U.S. added 204,000 jobs during the month. The number for October was well above expectations of economists. Even more good news came through... More of this article »
Shares of Ryanair Plummet on Warning
Shares at Ryanair have plummeted over 11% after the discount airline warned that its profits were likely to fall in 2013. The airline now said it expected a profit of $674 million to $700 million for their fiscal year that ends in... More of this article »
VW Moves Up in Global Sales
While Volkswagen, the Wolfsburg, Germany-based automaker has now risen to the top to become the third-largest automaker in the world thanks in part to great timing in expansion in Brazil and China, the market in the U.S. remained a... More of this article »
Nissan Cuts Forecast for Profit
Nissan has slashed its profit forecast for the full year by 15% and replaced its number two in command following a disappointing quarter that the automaker blamed on costs related to recalls and volatile demand. The second largest... More of this article »
Profit Falls at General Motors by 53%
Third quarter earnings were announced by General Motors in the amount of $698 million, which was 53% less than last year during the same quarter. However, revenue was slightly higher at $39 billion. GM earnings a year ago were $1.5... More of this article »
UPS Sees Rise in Profits and Strong Holiday Season
United Parcel Service said more demand in its domestic ground shipments had lifted company profits during the third quarter. UPS said it expects sales online during the heavy holiday shopping season to boost its shipping volumes going... More of this article »
McDonald’s Changes Ketchups
The world’s largest fast food chain is changing its ketchup. McDonald’s in a prepared statement on Friday said it was cutting its ties with Heinz the condiment making company after a relationship of 40 years. McDonald’s said... More of this article »
Proctor & Gamble See Rise in Profits
The largest maker of consumer products in the world, Proctor & Gamble Co announced that its first quarter profits were up 7.6% as sales for its homecare goods and products for babies gained. Net income for the quarter was $3.03... More of this article »
Ford Ups Outlook Following Strong Third Quarter
Ford Motor Company boosted its complete year earnings on Thursday, helped in part from the improved forecast for Europe and results that had been better than projected during the third quarter. The second largest automaker in the U.S.... More of this article »
EU and Canada Sign Deal for Free-Trade
The European Union and Canada have reached a free trade treaty agreement in principle that brings them near the end of over four years of negotiating. Stephen Harper the Prime Minister of Canada and Jose Barroso, the President of the... More of this article »
Developer from China Investing $5 Billion in Brooklyn
Developer Greenland Group, owned by China will take majority ownership of the Atlantic Yards in New York. The deal is expected to be the largest ever investment by a China based company in a property in the U.S. The Greenland Group... More of this article »
Exports in China Drop Unexpectedly
In September, exports from China fell unexpectedly signaling the constraints from demand globally and highlighting the distortions from fabricated invoices that remain in the country’s trade data. Shipments overseas fell 0.3% from... More of this article »
Jobs Report Postponed Due to Shutdown
The monthly jobs report for the Bureau of Labor Statistics will not be released due to not having workers to process it because of the current government shutdown. Only three out of 2,400 employees at the bureau are still working during... More of this article »
Silver Market Probe Ended in U.S.
Last week regulators in the United States closed an investigation of five years into the alleged manipulation of prices in the silver market. Regulators said the 7,000 hours its staff had worked on the investigation did not produce... More of this article »
Fiat Threatening Pullback with Chrysler with IPO
Majority owner Fiat SpA has threatened to pull back from any commitments in the future to Chrysler Group its American carmaker if a new healthcare trust is successful in selling its share in an IPO. Chrysler in a prepared statement... More of this article »
FedEx Reports Profit for Quarter Increased
FedEx, the courier company, said its profit for the quarter had increased by 7%. That came despite a fall off in revenue in the FedEx Express unit. The company also announced a rate increase would take place starting in January. FedEx... More of this article »
Manufacturing Sector Gets Momentum
Factory output in the United States increased in August as the rate of motor vehicles assemblies reached a six year high. These were seen as a good sign for the economy after a slow start of the third quarter. But not everything is... More of this article »
Auto Sales in Europe Fall to New Low
In Europe, car sales continue to fall despite a modest amount of economic growth returning to the region. Over the first eight months of this year in the European Union, sales of passenger cars were down 5.2% to 7.83 million in comparison... More of this article »
Private Car Dealers Get Huge Profits from Increased Sales
Privately held auto dealers have driven their sales higher for the third straight year. The pace of the increases has slowed down compared to last year. This was according to the data from Sageworks, a financial information firm. Sales... More of this article »
U.S. Inventories Increase in July
U.S. companies increased inventories during July more than had been forecasted, trailing a sales gain that signals an uptick in factory orders. Inventory stockpiles increased by 0.4%, the biggest increase in the past six months, after... More of this article »
Retail Sales Miss Estimates in the U.S.
A senior economist in the U.S. says consumers have lost enthusiasm, saying retail sales are maintaining their growth, though not like before. With limited opportunities in employment, higher taxes on payrolls and restrained growth... More of this article »
Stocks Mixed Amid Delay Over Syria
Stocks in the U.S. were mixed following a win streak of six days for the S&P 500 Index as Apple tumbled its most since this past April and President Obama postponed military action against the Syrian regime led by President Bashar... More of this article »
Walmart to Offer Smartphone Trade-In Program
Apple is expected to launch its latest iPhone on Tuesday, but it is not the only huge company making an announcement about iPhones. Walmart is taking center stage as well. The largest retailer in the world is expected to unveil the... More of this article »
More Data, Less Guessing on the Economy
Small businesses produce around 15 percent of the nation’s economic output but their activities are not recorded in official reports in a detailed manner. The lack of data within the small business sector can be overcome with Big... More of this article »
China Exports Grow in August
Exports from China increased during August, which reflected an improvement in external demand and revealed additional signs that the second largest economy in the world was stabilizing. Imports, still better than last year at this... More of this article »
Ford Introduces Warning System against Approaches
Police officers will now be safer via the new system Ford has invented that will automatically sound an alarm, lock the doors, and put the windows up if it detects a person sneaking from behind the car. Ford said that the system is... More of this article »
U.S. Trade Gap Widened During July
In July, the U.S. trade deficit widened from nearly a low of four years, as exports cooled off and imports made a rebound. The gap widened by 13.3% from $34.5 billion to $39 billion. Forecasters had predicted the gap would widen to... More of this article »