Archive for March, 2014

BMW Investing $1 Billion to Increase U.S. Production

German based carmaker BMW announced that it will expand its capacity for production in the U.S. by 50% and introduced a new off-road model. The investment is basically a bet of $1 million on SUVs. BMW said along with the X4 SUV, its factory in the U.S. would make the new model X7 SUV. The […]

Lululemon Misses Estimates for Revenue and Profits

Lululemon Athletic Inc, the yogawear retailer forecast results lower than expected on Thursday for the first quarter, just the latest hit the Canada-based company has had in the past year after a product recall. The retailer posted a profit for the quarter that was nearly unchanged for the same quarter last year. Shares dropped by […]

Candy Crush Going to Wall Street

Investors have become hungry over initial public offerings and something sweet is in the pipeline for them. The makers of the hugely popular Candy Crush Saga, King Digital Entertainment, is one of more than a dozen companies ready to have their IPO’s this week. The company, based in the UK will list in the NYSE […]

Nike Shares Fall on Outlook

Nike, Inc reported results for the third quarter with gross margins that increased sales growth in each sector and growth in futures orders. However, shares at Nike still fell afterhours on Thursday mainly due to the outlook for the company. The net income for Nike at quarter end February 28, 2014 reached $685 million or […]

Yuan Slides in China to Low of One Year

The national currency of China, the yuan, has fallen to its low of one year on Wednesday. The currency fell beyond 6.2 to one dollar for the first time since last April, amidst speculation in the market that the country’s central bank will maintain weak currency as the growth in the economy slows. The yuan […]

Toyota Suspends Production in India as Dispute Continues

Toyota Motor Corp’s India unit temporarily closed two plants that have had production lines stopped by some workers to protest delay’s in increases in salary after negotiations have lasted more than 10 months. The two factories located near Bangalore are the only vehicle plants for Toyota in the sixth largest automobile market in the world, […]

U.S. Sues over Libor Manipulation

The Federal Deposit Insurance Corporation in the United State has sued Citigroup, HSBC and another 13 global financial institution heavyweight for their alleged manipulation of the Libor rate. The FDIC sued the banks saying the manipulation had caused significant losses to over 38 banks in the U.S., which had to be shut down because of […]

Online Fix for Sales Tax Dims in Congress

Prospects that federal action to resolve the fight over the sales taxation in states over online retailing dimmed Wednesday in Congress, after one senior lawmaker who is Republican said additional debate was needed prior to any legislation moving ahead. The House Judiciary Committee Chairman Robert Goodlatte made the comments that reduced any likelihood that a […]

Consumer Prices in China Up 2% for February

China has posted in February a lower inflation rate providing consumers with good news, but suggesting the world’s second largest economy was losing some steam prompting analysts to call for support from the government with increased spending and more monetary easing. Consumer prices were up just 2% in February compared to the same month a […]

U.S. Economy adds 175,000 Jobs During February

In February, the job market in the U.S. rebounded from a slump of two months as employers increased jobs by 175,000, while the rate of unemployment rose from 6.6% to 6.7%, said the Department of Labor on Friday. The report exceeded most analysts’ expectations pumping up the futures on the stock market prior to Wall […]

Nivea Maker Reports Profits Exceeding Estimates

The Nivea skin maker, Beiersdorf AG saw an improvement in margin amidst a push in emerging markets. The company reported profits for the full year that beat estimates and forecast additional gains in its profitability for this year during its push into more emerging markets to counteract Europe’s slower growth. Earnings, prior to taxes and […]

Bond Sales on Wall Street Being Probed by Feds

The U.S. Securities and Exchange Commission has started an inquiry over claims that large investment banks, including Citigroup and Goldman Sachs, have favored the largest investors in sales of debt from companies including Apple and Verizon. The regulatory agency has launched the inquiry by asking for information from a number of investment banks regarding the […]