…ws reports. McDonald’s posted its first monthly sales drop in nine years earlier this month, amid a loss of customers to rival chains such as Burger King. McDonald’s global same-store sales fell 2.2 per cent in October. Soon after that sales drop made headlines, McDonald’s announced plans to replace its US president, Jan Fields, who has been with the company for more than 35 years and who dr…
Nov 25 2012 | Posted in
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The US economic growth slowed in the second quarter to an annualized pace of 1.5%, as consumer spending eased. But growth in the first three months of the year was revised up to 2% from a previous estimate of 1.9%, the Commerce Department said. Previous data was also revised to show the economy shrank by less during the 2007-9 recession than thought. Despite the slowdown, the second quarter growt…
in July Rob Dobson, senior economist at Markit said: “The August Markit Eurozone Flash PMI reinforces the prevailing view of the economy dropping back into recession during the third quarter of 2012. “Taken together, the July and August readings would historically be consistent with GDP falling by around 0.5%-0.6% quarter-on-quarter, so it would take a substantial bounce in September…
The Chinese economy, world’s second-largest, has slowed and performed worse than many analysts expected in the first quarter of 2013. Annual growth was 7.7% in Q1 2013, compared with 7.9% in Q4 2012. Analysts had forecast a figure closer to 8%. China wants to spur growth after it hit a 13-year low in 2012. Other key data on Monday also came in lower than market expectations, raising questio…
The German economy returns to growth in the first quarter of 2012 with a better-than-expected 0.5% rise in GDP, official figures have shown. In Q4 2011, the German economy contracted by 0.2%, its first dip since 2009. Meanwhile, the French economy recorded zero growth in the first quarter, after growth of 0.1% at the end of 2011. Figures released later on Tuesday are expected to show that the eur…
The US economy grew more than expected in the third quarter, official figures showed. The world’s largest economy expanded at an annualized rate of 2% in the third quarter, the Commerce Department said. The jump was partly due to a large increase in government spending. The figures are one of the last pieces of important economic data before the US presidential election between Barack Obama…
id Christian Schulz at Berenberg Bank. “It’s hardly a surprise that consumption has increased due to low unemployment, rising wages and a low rate of inflation.” The economies of the 27 members of the EU also contracted by 0.2%. Among the eurozone’s biggest contractions, Portugal’s GDP shrank 1.2%, Cyprus recorded a 0.8% contraction and Italy was down 0.7%. Comparable…
Google and Microsoft have both reported rising profits for the first quarter of 2013. Google’s net profit climbed to $3.35 billion in Q1 2013, up 16% from a year ago, boosted by online advertising revenue. Microsoft said it made $6 billion in profit during the same period, a jump of more than 17% from a year earlier. The tech giant’s earnings, which beat market forecasts, came despite a luk…
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China’s economy has grown at its slowest pace in three years as investment slowed and demand fell in key markets such as the US and Europe. Gross domestic product rose by 7.6% in the second quarter, compared with the same period a year ago. That is down from 8.1% in the previous three months. In March, Beijing cut its growth target for the whole of 2012 to 7.5%. China accounts for about a f…
German economy grew by 0.3% in the second quarter of 2012, helped by exports and domestic consumption. Earlier, France announced its economy had recorded zero growth in the period, which was better than had been expected. The French economy had also posted zero growth in the previous two quarters. Official gross domestic product (GDP) figures from the whole of the eurozone are due out from the st…
A new survey has revealed that over a quarter of women admit to faking orgasm every time they have sex. The statistic was revealed in AskMen.com’s Great Male Survey 2012, which polled 50,000 people from across the U.S., the UK and Australia. A rather luckier 30% of women surveyed said they never have to fake it. And they aren’t the only ones. Over a third of men admitted to having fak…
Jul 28 2012 | Posted in
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General Electric has reported a 16% rise in its profits for the first quarter of 2013, helped by a one-off gain from the sale of its stake in NBC Universal. GE made a profit of $3.53 billion in Q1 2013, up from $3.03 billion last year. Revenue was flat at $35 billion. The conglomerate has been trying to put its focus back on core industrial businesses, which include aviation and energy infrastruc…
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Mar 19 2013 | Posted in
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South Korea’s economy growth rate hit a two-year high in the first quarter of 2013, boosted by a rebound in construction, investment and exports. The economy grew by 0.9% in the January to March quarter from the Q4 2012, the central bank’s estimates showed. The data is likely to help allay fears over the health of the Korean economy. Earlier this year, the government cut its growth fo…
The Office for National Statistics in UK has announced that the country’s economy has returned to recession, after shrinking by 0.2% in the first three months of 2012. A sharp fall in construction output was behind the surprise contraction, the Office for National Statistics (ONS) said. A recession is defined as two consecutive quarters of contraction. The economy shrank by 0.3% in the fourth qua…
…the new model this month, although has no details of what new features it may contain. The Commercial Times estimated that full commercial production of the rumored iPhone 5S will begin as early as Q1 2013, with the December run only expected to return between 50,000 and 100,000 units. Facing low yield rates in the production of iPhone 5, Apple has accelerated the certification processes for relat…
…th by $3.2 billion, or $12.8 billion at an annual rate,” Michael Feroli wrote. That 0.33 percentage-point boost, he added, “would limit the downside risk to our Q4 GDP growth protection, which remains 2.0 percent”. Michael Feroli laid out his math. J.P. Morgan’s analysts expect Apple to sell around 8 million iPhone 5s in the fourth quarter. They expect the sales price to be about $600. With…
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Nov 15 2012 | Posted in
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Google shares’ trading was suspended for two-and-a-half hours after the internet giant released its third-quarter results early by mistake. Its quarterly profits fell 20% from a year earlier to $2.18 billion – below analysts’ expectations. Google blamed financial printing firm RR Donnelley for filing an early draft of the results, which had been expected after the closing bell. Shares…
Spain will set out today its austerity budget for 2013, against a backdrop of a deteriorating economy and 25% unemployment rate. Madrid is expected to outline 39 billion euros ($50 billion) worth of savings, tax rises, and structural reforms. It comes amid further protests this week, and growing expectations that Spain will seek a bailout from its eurozone partners. On Friday, results of a stress…
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France has entered its second recession in four years after the economy shrank by 0.2% in the first quarter of 2013, according to official figures. The country’s economy shrank by the same amount in the last quarter of 2012. A recession is defined as two consecutive quarters of negative growth. France has record unemployment and low business and consumer confidence. German figures, also released,…
The Walt Disney Company has reported higher profits in the second quarter of this year, driven by the success of films such as The Avengers. Net income for the three months to June rose 24% to $1.83 billion from the previous year. “We had a phenomenal third quarter, delivering the largest quarterly earnings in the history of our company,” said Robert Iger, Disney’s chief executi…
Bank of America has reported a sharp rise in profits for the first quarter of 2013 after it shed costs and set aside less money for bad loans. Bank of America reported a net income of $2.3 billion in Q1 2013, after making $328 million in the last year’s same quarter. Over the year the company has taken costs of $1 billion out of the bank, helped by 16,000 job cuts. Also helping was a fall in the…
