August 21, 2014 11:31 am
Toyota Motor Corp. made an official statement today and revealed that it intends to reduce prices of spare parts in China for its Lexus-branded vehicles. The price change will take effect in September 2014. Toyota made the decision after a Chinese antitrust probe into the auto industry, putting the company in the ranks of other […]
Read moreAugust 21, 2014 9:46 am
According to people with knowledge of the matter, Bank of America will soon announce it has agreed to a $17 billion settlement with the U.S. Department of Justice over the banks mortgage securities debacle. The agreement is to put an end to the investigation against Bank of America. The bank was accused of misleading buyers […]
Read moreAugust 21, 2014 8:57 am
Britains headline index rose on Thursday as gains in pharmaceutical, commercial property and energy stocks offset losses in miners after a preliminary gauge showed manufacturing activity in China growing at the slowest pace in three months in August. The FTSE 100 index stood at 6 773.00 points at 8:50 GMT, up 0.26% on the day, […]
Read moreAugust 21, 2014 8:55 am
The Netherlands-based retailer Ahold, which owns U.S. Stop & Shop stores, reported second-quarter results today, revealing a sizable drop in sales and profits, pressuring shares down some 2%. Q2 sales dropped 14% on an annual basis to €7.42 billion (~$9.86bn), while net profits were down 29% to €147 million. The operating margin declined to 3.9%, […]
Read moreAugust 21, 2014 6:55 am
In an official statement dated August 20th, Hewlett-Packard Co. posted its first sales growth in 12 quarters. The company reported fiscal third-quarter sales that surpassed analysts estimates due to improving sales of personal computers. Ms. Whitman said in an interview for the Wall Street Journal: “Im proud of the change in the trajectory of revenue. […]
Read moreAugust 20, 2014 2:59 pm
Target Corp., the second-largest discount retailer in the US, posted Q2 earnings today to log robust performance in the US and discouraging data from Canada. Investors acknowledged the steady overall sales growth, and put bets on the new leadership, reversing the pre-market share drop. The Minneapolis-based company reported a 1.7% sales increase on an annual […]
Read moreAugust 20, 2014 2:14 pm
Denmark-based brewer Carlsberg A/S said in an official statement today that it expects its full-year operating profit to fall from a year earlier due to worsening conditions in Russia, which accounts for more than a third of its total profits. The revenue and earnings warning caused the companys shares to drop by nearly 7% in […]
Read moreAugust 20, 2014 1:35 pm
Staples Inc, the world’s largest office-supply retailer, said in a statement today that it intends to shut about 140 of its stores in North America this year as increasing online and big-box chains competition hurt its sales. Mr. Ron Sargent, who is the companys Chief Executive Officer, said: “Were accelerating growth in our delivery businesses […]
Read moreAugust 20, 2014 12:25 pm
Lowes, the worlds second-top home improvement retailer, posted its earnings report for the second quarter ended August 1 today, revealing robust sales growth. Despite the upbeat operational results, however, the company lowered its full-year sales growth projection, pressuring shares some 3% down in premarket trade. The Mooresville, North Carolina-based company reported $16.59 billion in revenue, […]
Read moreAugust 20, 2014 11:49 am
The third-largest brewer in the world – Heineken NV announced in a statement that its first-half profit beat analysts estimates and projected moderate growth for the remainder of the year. Heinekens Chief Executive Officer Mr. Jean-Francois van Boxmeer said in a statement, cited by the Wall Street Jounal: “We are confident that our strong brand […]
Read more