Finance Blog number 1

December 29, 2011

U.K. Store Traffic Falls From 2010 on Second Shopping Day After Christmas - Bloomberg

Filed under: Canada, money — Tags: , , , — Sun @ 3:00 am

U.K. shopper numbers fell yesterday as discounting and mild weather failed to entice cost-conscious Britons to spend, according to market researcher Experian Footfall.

Visits to shops and malls fell 0.7 percent on Dec. 27, compared to the Tuesday after Christmas last year, Experian Footfall said by e-mail. Shopper numbers surged 21.5 percent on Boxing Day, Dec. 26, with extended hours helping boost business limited last year by Sunday trading restrictions. The four-day U.K. holiday weekend ended on a Tuesday in both 2010 and 2011.

Stores including Debenhams Plc (DEB), the U.K.

December 13, 2011

Get set for relief on the markers

Filed under: Canada, lenders — Tags: , , , — Sun @ 6:52 pm

The Toronto stock market was set for a higher open Tuesday as crude oil prices rose and traders took in positive data from Europe

December 10, 2011

UK threatens eurozone, others over EU institutions

Filed under: technology, term — Tags: , , , — Sun @ 1:00 pm

Britain’s prime minister is threatening that he may not allow a group of 23 European Union states that plan to set up their own treaty to use EU institutions.

David Cameron says “The institutions of the European Union belong to the European Union, belong to the 27″ member states.

The 17 euro states and six other EU states early Friday agreed to create a new treaty that will allow them to introduce stricter fiscal rules in the hope of containing a worsening debt crisis payday loans.

They plan to rely on the European Commission and the European Court of Justice to enforce those rules.

Cameron said it was not in the U.K.’s interest to join the new treaty because he could not get special safeguards for the country’s financial center.

Source

December 8, 2011

Ford to resume paying dividend

Filed under: Crisis, lenders — Tags: , , , — Sun @ 10:04 pm

Ford Motor Co. said Thursday it will resume paying a dividend in March, more than five years after it halted payments because of its financial problems.

The company’s board approved a quarterly dividend of 5 cents per share. It will be paid on March 1 to shareholders of record as of Jan. 31.

“We have made tremendous progress in reducing debt and generating consistent positive earnings and cash flow,” Executive Chairman Bill Ford said in a statement. “The board believes it is important to share the benefits of our improved financial performance with our shareholders.”

Its stock pared its loss for the day after the announcement. Ford shares fell 4 cents to $11.04 per share in midday trading. Before the dividend was announced, it had traded as low as $9.84 earlier in the session.

The company stopped paying a dividend in September 2006, when it was deeply in debt. The company lost $12.7 billion that year fast cash advance.

But since then Ford has shed brands like Volvo and Mercury, closed factories, offered buyouts to thousands of employees and earned praise for new products like the Ford Explorer SUV and Ford Fiesta subcompact. Ford reported its tenth straight profitable quarter in the third quarter of this year, and it earned $6.6 billion in 2010.

“We have demonstrated our capability to finance our plans and we are confident that we can begin to pay a dividend that will be sustainable through economic cycles,” Chief Financial Officer Lewis Booth said in a statement.

Ford spokesman Todd Nissen said the New York Stock Exchange halted trading of Ford shares temporarily just before the noon announcement. Trading resumed about 10 minutes later.

Source

December 2, 2011

Cupples 7 situation remains shaky

Filed under: Crisis, marketing — Tags: , , , — Sun @ 10:16 am

ST. LOUIS

November 30, 2011

UK govt minister may have had computers hacked

Filed under: Crisis, loans — Tags: , , , — Sun @ 7:24 pm

British police are investigating whether computers belonging to former government minister Peter Hain were hacked by the tabloid News of the World while he was the official responsible for Northern Ireland, Hain’s office said Wednesday.

It said in a statement that Hain had met with police officers “regarding an investigation into the alleged hacking of his official and personal computers during his time as Secretary of State for Northern Ireland.”

Hain was Northern Ireland secretary between 2005 and 2007 and would have had access to classified intelligence information.

Police are investigating phone hacking by the Rupert Murdoch-owned newspaper have set up a parallel probe into whether computers also were targeted.

Murdoch’s News International said it was “co-operating fully with the police” on all investigations.

Earlier Wednesday, Alastair Campbell, Tony Blair’s former spin doctor, told a media ethics inquiry set up in the wake of the hacking scandal that a minority of journalists had turned the country’s press “putrid” and tarnished the whole industry. Campbell said journalists such as those who hacked phones for the News of the World tabloid had “besmirched the name” of almost every other reporter in the country.

“A very, very small number of people have completely changed the newspaper industry,” said Campbell, who is credited with running a sophisticated _ and manipulative _ media operation when he worked for the then-prime minister at 10 Downing Street between 1997 and 2003.

“We have a press that has just become frankly putrid in many of its elements,” Campbell said, criticizing the “inhumane treatment” meted out to celebrities and ordinary people alike by newspapers in relentless pursuit of exclusives.

Campbell was giving evidence to Judge Brian Leveson’s inquiry, which was established to examine media ethics and practices and recommend changes to Britain’s system of media self-regulation.

Prime Minister David Cameron set up the inquiry in response to the scandal that began with the exposure of illegal eavesdropping by the News of the World.

Murdoch shut down the tabloid in July after evidence emerged that it had accessed the mobile phone voice mails of celebrities, politicians and even crime victims in its search for scoops.

Campbell said police had told him details about his working life were included in the notes of private investigator Glenn Mulcaire, who worked for the News of the World and was jailed in 2007 for phone hacking.

In a written witness statement, Campbell said he suspected the phone of Blair’s wife, Cherie, had been hacked _ although he acknowledged he had no proof.

He said stories about her “often involved details of where Cherie was going, the kind of thing routinely discussed on phones when planning visits, private as well as public.”

He said phone hacking could explain how the Daily Mirror learned that Cherie Blair was pregnant in 1999.

“As I recall it, at the time only a tiny number of people in Downing Street knew that she was pregnant,” Campbell said. “I have heard all sorts of stories as to how the information got out, but none of them strike me as credible.”

Campbell told the inquiry he had accused Cherie Blair’s adviser Carole Caplin of tipping off the press about Cherie Blair’s whereabouts. Caplin has since been told by police her phone may have been hacked.

Campbell said he had apologized to Caplin for blaming her.

More than a dozen current and former News of the World journalists and editors have been arrested, and two top London police officers and several senior Murdoch executives have resigned over the still-unfolding hacking scandal.

Police said they had made a new arrest, a 31-year-old woman detained in northern England on Wednesday. Her name was not disclosed, although media including Sky News _ which is 39 percent owned by Murdoch’s News Corp. _ identified her as a former News of the World reporter.

The only people charged with crimes so far are Mulcaire and former News of the World reporter Clive Goodman, who were jailed in 2007 for hacking into the voicemails of royal aides.

Source

November 29, 2011

Are Canadian online deals better than U.S.?

Filed under: lenders, marketing — Tags: , , , — Sun @ 4:28 am

A pair of triple button Ugg boots for just $209 at a U.S. online retailer looks like a better deal than the $285 price tag on Ugg

November 25, 2011

Italy pays sharply higher rates in auctions

Filed under: Crisis, management — Tags: , , , — Sun @ 10:24 pm

Italy had to pay sharply higher borrowing rates to entice investors to part with their cash during a couple of auctions Friday, in an acute sign that Europe’s crippling debt crisis is laying siege to the eurozone’s third-largest economy.

The auction results are another sign that the country’s new technocratic government, faces a big battle to convince that it has a strategy to get a grip on the country’s massive debts.

The country had to pay an average yield of 7.814 percent to raise euro2 billion in two-year bills. That rate was sharply higher on the 4.628 percent it had to pay in the previous auction and represented a new high since the creation of the euro in 1999.

And even raising euro8 billion for six months proved exorbitantly expensive. The yield for this auction spiked to 6.504 percent, nearly double the 3.535 percent rate in the last equivalent auction no faxing payday loans.

Following the grim news on the auction front, the country’s borrowing rates in the markets sky-rocketed, with the ten-year yield spiking 0.34 percentage point to 7.30 percent _ above the 7 percent threshold that is widely-considered unsustainable in the long-run and eventually proved the point at which Greece, Ireland and Portugal had to seek financial bailouts.

The renewed rise is likely to renew tensions over Italy’s debts, which stand at euro1.9 trillion ($2.6 trillion), or a huge 120 percent of economic output. Europe’s current anti-crisis measures are too not big enough to deal with Italy’s debt mountain.

Source

November 21, 2011

Big payouts from startups excite Silicon Valley

Filed under: legal, technology — Tags: , , , — Sun @ 1:24 am

Everyone dreams of striking it rich _ and what they would do with such a windfall. A new house? A fancy car? Maybe designer clothes selected by a personal shopper.

For some in Silicon Valley, those wishes may soon come true.

As restrictions on selling stock are lifted at a handful of sizzling startups, early investors and employees are preparing for big payouts.

What they do with their riches is anyone’s guess, but luxury retailers and wealth managers say they’re expecting a bump in business and have been preparing for this new crop of Internet millionaires.

Source

November 16, 2011

Synergetics expects greater revenues in first quarter

Filed under: Crisis, marketing — Tags: , , , — Sun @ 4:40 am

Synergetics USA Inc. expects to report growth in sales and net income for the first quarter of fiscal 2012, company officials told the Securities and Exchange Commission in a filing today.

The O’Fallon, Mo.-based maker of equipment for eye and brain surgeries, expects revenue of $13.3 million to $13.6 million in the first fiscal quarter, which ended Oct. 31. That represents a 10 percent to 13 percent increase in revenue compared to a year ago. 

Based on increased sales, the company expects to report earnings from continuing operations of 4 cents to 5 cents a share for the first fiscal quarter, and to report a 1 cent to 2 cent per share loss from discontinued operations.

Source

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