Ted Baker defied gloomy expectations for the British retailing sector as the self-proclaimed “global lifestyle brand” reported double-digit sales growth over the Christmas season. The clothing retailer saw retail sale grow 17.9% for the eight-week period from Nov. 13, 2016 to Jan. 7, 2017 compared with the same time period last year.
European Stocks Turn Positive as Pound Slump Lifts FTSE, Kremlin Denial Boosts Dollar
European stocks rebounded after a renewed slump in the pound and a Kremlin denial that Russian officials had built a dossier of compromising information on President elect Donald Trump. European stocks turned positive Wednesday after a renewed slump in the pound and a flat denial from the Kremlin that Russian officials had built a dossier of compromising information on President elect Donald Trump.
Trump May Be a Loose Cannon but He Isn’t Troubling U.S. CEOs
The loose cannon who is President-elect Donald Trump will take to a stage on Wednesday and lay out some form of vision for the U.S. economy, which so happens to coincide with stock prices getting a touch more volatile amid the uncertainty over the real estate mogul’s first few months in office. Yet, despite the looming handover of power to a clear Twitter addict, it seems that Corporate America is feeling just fine and dandy to kick off the new year.
Trump’s Stimulus Plan Will Likely Help Airline Stocks, Analyst Says
If Donald Trump’s fiscal stimulus plans are enacted, demand for air travel should increase, boosting airline shares, says Deutsche Bank’s airline analyst. A veteran airline industry analyst said Trump administration plans for fiscal stimulus will likely lead to higher demand for air travel.
Domino’s CEO: We Aren’t Just the Delivery Guys
For Domino’s Pizza , a good part of 2017 will likely be spent on getting people to think about the brand as more than just one that delivers hot pizzas to your house. “While people still think of us as the delivery guys, the reality is that one-third of our business is done on-premise,” explained Domino’s CEO Patrick Doyle in an interview with TheStreet .
Coke and Pepsi Justifiably Lost Their Fizz
Ten months ago I wrote an article comparing the prospects for Coca-Cola and PepsiCo . My title was “What’ll You Have Coke, Pepsi or Neither?” The conclusion was that both looked pricey but, if I had to choose one, I’d go with Pepsi.
Trader’s Daily Notebook: More Movement, Minimal Mojo
Tuesday’s E-Mini S&P 500 futures auction was a pleasant change from Monday’s sleepy, go-nowhere trading session. However, over a higher timeframe very little has changed.
‘We don’t care about the morning futures fluctuation because there is none, exaggerated or not.’
Where did the pajama traders go? Where did those traders who used to control the opening based on extraneous data and news events from overseas disappear to? Ever since the election of Trump, we have lost a great deal of the ridiculous volatility that plagued our markets for years — the kind of volatility that led to giant distortions each morning as we tried to calculate the impact of an Italian bank’s failed restructuring or a raid on the Cyprus financial system. How much was a collapse of the Brazilian real worth? How do you factor in weak Chinese numbers?…463 more words left in this article.
Council delays cable plan
Assistant City Manager Matt Hankins talks about putting out bids for security upgrades. Those bids, and a final decision on a cable television provider, will be done in a future council meeting.
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In this Wednesday, March 23, 2016 file image, Czech Republic’s Finance Minister Andrej Babis gestures prior an extraordinary session of Parliament’s lower house in Prague, Czech Republic. Czech lawmakers have overridden a veto by President … Milos Zeman, Wednesday, Jan. 11, 2017 to approve legislation that limits the business activities of future government ministers.
China’s central bank launches spot checks on bitcoin exchanges
China’s central bank said on Wednesday it launched spot checks on major bitcoin exchanges in Beijing and Shanghai, knocking the price of the cryptocurrency down by more than 6 percent. The probe of bitcoin exchanges, including BTCC, Huobi and OKCoin, was to look into a range of possible rule violations, including market manipulation, money laundering and unauthorized financing, the People’s Bank of China said.
Rokos Hedge Fund Said to Gain 20% in First Full Trading Year
Chris Rokos’s hedge fund rose about 20 percent in 2016, its first full year of trading, to become one of the world’s best-performing money pools betting on economic trends, according to people with knowledge of the matter. About half of the gain came in the fourth quarter, when Donald Trump’s surprise victory in the U.S. presidential election triggered sharp moves in bond yields and currency markets, said one of the people, who asked not to be identified because the information is private.
Two Day Seminar: FDA’s Medical Device Software Regulation Strategy…
Research and Markets has announced the addition of the “FDA’s Medical Device Software Regulation Strategy: 2-Day In-Person Seminar by Ex-FDA Official” conference to their offering. The growth of the medical software industry outpaces the design of FDA’s regulatory process.
Why This CEO Lets Other Execs Do His Job For A Day
A fresh perspective can be a valuable tool for taking a business to the next level, and one New Hampshire business leader has an unusual way of finding it. In 2012, Travis York, CEO of the marketing agency GYK Antler , created an “exec exchange” program that involved swapping jobs with an executive in another industry for a day.
What’s In Store For Freelancers Under President Trump?
When American freelancers were asked which presidential candidate they supported this summer, 45% sided with Clinton, while 33% preferred Trump, according to a survey commissioned by Upwork and the Freelancer Union. Now that Trump is set to become the 45th president of the U.S. this month, some believe that his victory may ultimately prove beneficial to the country’s 55 million freelance, contract, and contingent workers.
Sainsbury’s Record Holiday Sales Boost Third Quarter Trading
Sainsburys posted better-than-expected sales for the third quarter Wednesday as U.K. retailers continue to defy concerns of a slowdown in spending following the country’s decision to leave the European Union. J Sainsbury Plc posted better-than-expected sales for the third quarter Wednesday as U.K. retailers continue to defy concerns of a slowdown in spending following the country’s decision to leave the European Union last June.
Modi’s Cash Ban Helped This Indian Bank Report Record Earnings
India’s demonetization policy helped IndusInd Bank Ltd. post a surprise record quarterly profit as surging deposits following the cash ban eased the lender’s funding costs and allowed it to extend more loans. Net income at the first bank to report earnings since the ban two months ago climbed 29 percent to 7.51 billion rupees in the three months ended Dec. 31, the Mumbai-based lender said in an exchange filing on Tuesday.
Wells Fargo’s Post-Scandal Pay Plan Eliminates Sales Goals
Wells Fargo & Co. introduced a compensation plan for retail-bank employees that shifts the focus from sales goals to customer service after the old incentives led to a scandal over the creation of potentially millions of fraudulent accounts.
Inside Silicon Valley’s Struggles to Hire More Women and Minorities
Tracy Chou wrote a post on Medium in October 2013, challenging tech companies to tell the world what percentage of their software engineers were women. Surprisingly, it worked: Google, Apple, Facebook and others published their lopsided race and gender statistics, and Chou, then a Pinterest software engineer, became a face of the tech diversity movement.
How KKR Beat Citi in Loan Deal for Perelman’s Humvee Maker
When Citigroup Inc. started hawking $300 million of loans for the maker of the Humvee, investors were willing to buy almost any deal for sale. Almost.
China’s $3.8 Trillion Wealth Products Reel Amid Bond Rout
China’s bond market is facing more turbulence as banks scramble to avoid losses on wealth management products that raised $3.8 trillion from the nation’s savers. The investment plans typically use leverage to boost returns on the 56 percent of their holdings parked in fixed-income securities.
China’s Clean Air Bid Scares Rivals in Duel Over Dirty Fuel
The Asian country’s road to cleaner air has been gradual, with lead-free gasoline only becoming a requirement in 2000, almost three decades behind the U.S. This month, China imposed new curbs on the amount of sulfur in vehicle fuels to about a fifth of the previous standard, putting it on par with Europe, which has the world’s strictest emissions controls. While the change helps China battle the smog that’s choking residents from Beijing to Xian, many of its refiners still produce the dirtier fuel.
Gov. Brown plays small ball with budget
California Governor Jerry Brown is proposing an austere state budget for 2017-18, trying to rein in spending in the face of economic – or political – headwinds. That’s the deficit projected for the coming fiscal year, the first red ink in California since 2012-13.
Fed on Edge as Trump Growth Bump Boosts Risks of Rate-Hike Error
To err is human. To err when you’re the Federal Reserve means national wealth gets destroyed and millions of people lose their jobs.
Schumer Urges FCC To Protect Broadband Funds
Many telecommunications companies gained access to the Connect America Fund, a federal investment that helped them enhance broadband access.
JPMorgan Found in Probe to Have Retaliated Against Adviser
JPMorgan Chase & Co. wrongfully fired a financial adviser in retaliation for publicly complaining that managers pressured him to sell the bank’s own investment products, a federal investigator found.
What Obamaa s address has in common with memorable farewells from past presidents
President Obama delivers his farewell address at McCormick Place in Chicago, Tuesday, Jan. 10, 2017. With President Obama’s final speech to the nation Tuesday night in Chicago, he faced a unique challenge unlike any modern president that came before him: How to give the milestone farewell address, one that typically touts a president’s key achievements and attempts to define his legacy before he leaves office, just as his signature legislative achievement, the Affordable Care Act, is threatened to be undone.
Startup funding drops in 2016
U.S. one dollar bills are arranged for a photograph in New York, U.S., on Thursday, Feb. 26, 2009. Less money flowed to Silicon Valley startups in 2016, after a period of frenzied spending the year before.
Berger outlines 2017 regulatory advocacy focus
NAFCU President and CEO Dan Berger told members Tuesday that the association will continue to “directly take on federal regulatory burden and forcefully represent credit union interests at every available opportunity” in an email that also highlighted some of the association’s efforts over the past year. Regarding the NCUA, Berger said the ultimate goal is to minimize the regulatory burden and push the agency to be more efficient in how it spends credit unions’ dollars.
VW emissions-cheating deal could put employees in hot seat
The imminent criminal plea deal between Volkswagen and U.S. prosecutors in an emissions-cheating scandal could be bad news for one group of people: VW employees who had a role in the deceit or subsequent cover-up. VW on Tuesday disclosed that it is in advanced talks to settle the criminal case by pleading guilty to unspecified charges and paying $4.3 billion in criminal and civil fines, a sum far larger than any recent case involving the auto industry.
Obama Farewell to Nation Draws Not-So Subtle Contrast With Trump
President Barack Obama blasted “zero-sum” politics as he drew a sharp contrast with his successor in his farewell address Tuesday night, acknowledging that despite his historic election eight years ago his vision for the country will exit the White House with him. Obama’s prime-time address was a call for political engagement after a grueling election won by Republican Donald Trump, who made undoing Obama’s achievements the centerpiece of his campaign.
Analyst Who Foresaw Yen Fall Sees More Pain as 125 in Sight
The yen is set to slump to 125 against the dollar in 2017, with little chance of a sustained gain past 115, as the Federal Reserve’s policy tightening widens the interest-rate differential between U.S. and Japan, said Mansoor Mohi-uddin, a strategist at NatWest Markets, a unit of Royal Bank of Scotland Group Plc. The forecast shows Mohi-uddin, who previously estimated a trading range of 110 to 120 for the yen versus the greenback, has turned more bearish.
VW Closes in on $4.3 Billion U.S. Accord in Diesel Scandal
Volkswagen AG is closing in on a deal to pay $4.3 billion in criminal and civil penalties to settle a U.S. probe into the rigging of diesel-powered cars to cheat emissions tests. The agreement, which VW said Tuesday will include a guilty plea, raises the cost of the scandal to more than $23 billion in the U.S. and Canada, blowing by the 18.2 billion euros the carmaker had set aside to resolve the disputes.
Don’t Ignore These Great Chip Makers: Cramer’s Top Takeaways
When it comes to the semiconductor sector, why does the market obsess about Nvidia ? That was the question that had Jim Cramer scratching his head on Tuesday’s episode of “Mad Money,” as he called the market’s focus on this single chip maker “repulsive.” As the most recent Consumer Electronics Show just proved, there is a lot of really important technology that relies on chips not made by Nvidia, a stock that rallied 220% in 2016.
Hungary Plans to Crackdown on All Soros-Funded NGOs
Hungary plans to crack down on non-governmental organizations linked to billionaire George Soros now that Donald Trump will occupy the White House, according to the deputy head of Prime Minister Viktor Orban’s party. The European Union member will use “all the tools at its disposal” to “sweep out” NGOs funded by the Hungarian-born financier, which “serve global capitalists and back political correctness over national governments,” Szilard Nemeth, a vice president of the ruling Fidesz party, told reporters on Tuesday.
Tesla’s Autopilot Head Said to Depart as Apple Engineer Hired
Sterling Anderson, Tesla Motor Inc.’s director of autopilot programs since November 2015, has left the Palo Alto, California-based maker of electric cars, according to a person familiar with the matter. Tesla announced Tuesday that it hired Chris Lattner as its vice president of autopilot software.
VW Shrugs Off Scandal Woes as 2016 Deliveries Rise to Record
Volkswagen AG delivered more cars and trucks than ever before, shrugging off the emissions-cheating scandal by wooing more customers in China. The German manufacturer, which vies with Toyota Motor Corp. for the title of the world’s biggest automaker, posted a 3.8 percent rise in sales to 10.3 million vehicles in 2016, the Wolfsburg-based company said in a statement.
What presidential scholars say we might hear in Obamaa s farewell address
When President Obama addresses the country Tuesday night in Chicago, the place where he launched his political career, presidential scholars say he will face a unique moment, unlike perhaps any modern president before him: He will be giving this milestone address just as his signature legislative achievement is threatened to be undone. As a result, the opportunity also exists for a unique farewell address, a rhetorical device that has been used by many but not all presidents to recap their tenure, help solidify their legacy and address the future.
Livermore oil driller seeks larger underground disposal area
Amid greater scrutiny of oilfield contamination threats to California’s groundwater, state officials will hold a hearing Wednesday on a proposal to expand the aquifer area where a Livermore driller is permitted to dispose of oily wastewater. Some environmentalists will speak out against the proposal by E&B Natural Resources for federal permission to expand the aquifer exemption area where it is permitted to put wastewater from oil extraction.
LA leaders call for ban on campaign finance from developers to a restorea faith
In an election season in which city politicians have increasingly come under attack for a perceived closeness with deep-pocketed developers, five council members on Tuesday sought to dispel that image by proposing a ban on political contributions from donors seeking approval for their real estate projects. The city’s ethics laws already forbid those seeking public contracts from donating to elected officials and candidates.