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- Accenture raises full-year revenue forecast after strong first quarter
- Thu, 18 Dec 2014 21:25:26 -0500 -
By Lehar Maan and Abhirup Roy (Reuters) - Consulting and outsourcing company Accenture Plc raised its revenue forecast for fiscal 2015 after contract wins helped the company post better-than-expected first-quarter earnings and revenue. The company said it expects revenue growth of 5-8 percent on a local currency basis for the year ending August, up from the 4-7 percent growth it had estimated earlier. Accenture's shares rose as much as 6 percent to a fresh life-high of $90.99 on Thursday. ...
- Daimler increases provision for EU cartel probe
- Thu, 18 Dec 2014 08:24:18 -0500 -
FRANKFURT (Reuters) - Germany's Daimler said on Thursday it was setting aside an additional 600 million euros ($740 million) to cover potential costs related to an antitrust investigation into truckmakers by the European Commission. The maker of trucks and Mercedes cars said the move would affect its earnings this quarter but stuck with its forecast for 2014 earnings before interest and tax (EBIT) from ongoing business to rise significantly from last year. ...
- Putin says Russia will not force exporters to sell forex
- Thu, 18 Dec 2014 05:19:21 -0500 - MOSCOW (Reuters) - Russian President Vladimir Putin said on Thursday his government did not plan to issue orders to domestic exporters to sell their foreign-currency earnings to support the rouble, which suffered a dramatic collapse earlier this week. Putin also told an end-of-year news conference that the central bank should have stopped its forex market interventions a long time ago and that if it had, it would not have had to raise its key interest rate in an emergency move this week. (Reporting by Lidia Kelly, Writing by Alexander Winning, Editing by Timothy Heritage)
- Russian ruble firms sharply as government pressures exporters
- Wed, 17 Dec 2014 13:09:44 -0500 -
By Vladimir Abramov and Alexander Winning MOSCOW (Reuters) - Russia's ruble strengthened sharply on Wednesday after dramatic falls on the previous two days as the government pressured exporters not to hoard foreign-currency earnings and the central bank announced new measures to support financial stability. The ruble was around 9 percent firmer against the dollar in volatile trading, with the market also boosted by central bank plans to ease concerns over approaching external debt repayments by Russian firms and stabilize the ruble. ...
- FedEx misses Street 2Q forecasts, but profit jumps 23 pct
- Wed, 17 Dec 2014 12:40:35 -0500 -
FedEx's second-quarter earnings soared 23 percent, but the package delivery company missed Wall Street forecasts due partially to a lower-than-expected benefit from falling fuel prices.
- PepsiCo earnings may be pressured by currency fluctuations
- Wed, 17 Dec 2014 11:17:39 -0500 -
(Reuters) - PepsiCo Inc earnings could come under pressure in the fourth quarter due to currency fluctuations, investors said, as the company's biggest foreign markets - Russia, Mexico and Canada - have all taken hits to their currencies in recent months.
- Earnings recovery might not help Cameron much before vote
- Wed, 17 Dec 2014 10:28:52 -0500 -
By William Schomberg and William James LONDON (Reuters) - The wages of British workers are rising and inflation is tumbling, but a turnaround in living standards may prove to be too little, too late for Prime Minister David Cameron as national elections approach. Earnings, excluding bonuses, grew by more than inflation for a second straight month in October after lagging behind prices for five years, data showed on Wednesday. A day earlier, data showed Britain’s inflation rate fell to 1 percent, its lowest in more than 12 years, and it looks set to weaken further in the coming months. ...
- FedEx profit misses expectations; stock down
- Wed, 17 Dec 2014 10:23:34 -0500 -
By Nick Carey CHICAGO (Reuters) - FedEx Corp on Wednesday posted lower-than-expected quarterly earnings as results at its FedEx Ground and FedEx Freight units missed estimates, and it reiterated an outlook analysts consider conservative, sending its stock down nearly 5 percent. Both FedEx and main rival United Parcel Service Inc are in the final days of their peak holiday season, which has boomed over the past decade due to the rise of e-commerce. ...
- Philips expands in medical devices with $1.2 billion Volcano deal
- Wed, 17 Dec 2014 04:38:05 -0500 -
By Thomas Escritt AMSTERDAM (Reuters) - Philips has agreed to acquire U.S.-based medical device maker Volcano Corp for $1.2 billion including debt, its largest healthcare acquisition in seven years and a bid to cash in on an aging population's need for more complex treatments. Philips said the acquisition of Volcano -- which makes equipment that allows doctors treating heart disease to see inside patients' veins and measure blood flow -- would lead to synergies in research and development and in sales. The deal is expected to add to Philips' earnings per share by 2017. ...
- Mixed martial artists sue league, allege antitrust
- Wed, 17 Dec 2014 03:01:31 -0500 -
(Reuters) - Former and current mixed martial artists sued the Ultimate Fighting Championship league on Tuesday, alleging the business has a monopoly on the professional fighting market and limits the potential earnings of its athletes. The suit, filed in federal court in California by one current and two former fighters, aims to establish a class of fighters who have performed at any UFC event held or broadcast in the United States. ...
- Norway's REC Silicon sees negative impact from China U.S. dispute
- Wed, 17 Dec 2014 02:09:24 -0500 - OSLO (Reuters) - Solar firm REC Silicon said it expected fourth-quarter core earnings to be lower than in the previous quarter and that an ongoing trade dispute between the United States and China would hurt profits and cash flow in the short term.
- GE sees 2015 profit pressured by 'sluggish' oil business
- Tue, 16 Dec 2014 18:16:48 -0500 -
By Lewis Krauskopf and Sagarika Jaisinghani NEW YORK (Reuters) - General Electric Co gave a 2015 profit forecast range on Tuesday that barely included Wall Street's target as the U.S. conglomerate braced for a "sluggish" oil and gas sector due to plunging crude prices. GE said it expects earnings from its aviation, power & water and other industrial units to rise at least 10 percent next year as it focuses on increasing its profit share from these businesses to 75 percent by 2016 from 55 percent in 2013. The switch is aimed at reducing GE's exposure to its finance business. ...
- GE to distribute $40 bn to shareholders in 2015-2016
- Tue, 16 Dec 2014 18:08:30 -0500 -
US industrial conglomerate General Electric said Tuesday it plans to distribute $40 billion to its shareholders in 2015 and 2016 in the form of dividends and share buybacks. GE projected adjusted 2014 earnings per share in a range of $1.70 to $1.80. The company said its industrial activities were expected to contribute $1.10-1.20 earnings per share, while the finance arm should yield 60 cents. Next year should see the conglomerate increasingly return to its industrial roots as it pares the size of GE Capital.
- Dotcom darling Lastminute.com changes hands for $120 million
- Tue, 16 Dec 2014 11:11:39 -0500 - LONDON (Reuters) - Lastminute.com, a company that came to symbolize the rise and fall of Internet firms in the dotcom bubble, is to be bought by Swiss online travel company Bravofly Rumbo Group, for about $120 million, owner U.S. company Sabre Corp said. In 2000 the group was worth 768 million pounds after a flotation which coincided with the high-water mark of the Internet bubble, when companies in any way related to the web were valued far in excess of typical measures using turnover and earnings. Its IPO came four days after the tech-focused U.S. Nasdaq index peaked at 5,132 points. ...
- Riverbed finds a buyer in private equity firm Thoma Bravo
- Tue, 16 Dec 2014 08:08:01 -0500 -
Ahead of publishing its third quarter earnings report in October, Riverbed had looked poised as a potential buy for the likes of Cisco, Citrix or privately held Blue Coat Systems.
- Coca Cola says sees steady 2015 growth, adjusted for currency
- Mon, 15 Dec 2014 16:59:58 -0500 - NEW YORK (Reuters) - Coca Cola Co said Monday that it does not expect its earnings per share growth in 2015 to be "significantly different" from 2014, when adjusted for currency, as the company struggles to grow amid lackluster demand for soda.
- IMF cuts Seychelles 2014 economic growth to 2.8 pct
- Sat, 13 Dec 2014 03:37:13 -0500 -
VICTORIA (Reuters) - The International Monetary Fund said Seychelles' economy will grow at 2.8 percent this year, lower than its initial forecast of 3.7 percent, due to weaker demand for the country's main exports. The Indian Ocean archipelago relies on exports of canned tuna and its tourism business for hard currency earnings. A surge in imports, driven by better incomes and access to credit, had put further pressure on the exchange rate, which weakened 11 percent between August and October this year, the IMF said in a statement seen by Reuters on Saturday. ...
- Airbus management seek to halt share price slide
- Thu, 11 Dec 2014 07:47:20 -0500 -
BERLIN/PARIS (Reuters) - Airbus sought to reassure investors on Thursday by promising profit growth beyond 2017 and healthy dividends after its shares continued a slide begun on Wednesday when it warned of flat 2016 earnings.
- Zara-owner Inditex says profit flat as new stores open
- Thu, 11 Dec 2014 06:41:19 -0500 -
Spanish clothes giant Inditex, owner of the Zara fashion brand, on Thursday reported almost flat nine-month net profit as the opening of new stores and exchange rates weighed on its earnings. Adjusting for exchange rate fluctuations, Inditex said in-store and online sales surged by 10.5 percent, a sign that its revenues and profit are being squeezed by weakening currencies in some of its markets outside of the euro zone. Inditex said it opened 230 new stores between February and October, the majority in Europe, bringing its total number of stores worldwide to 6,570. "The group continues to expand its global, fully integrated store and online sales platform," it said.
- Lufthansa to pay out 10-25 percent of EBIT as dividend from 2015
- Wed, 10 Dec 2014 12:15:25 -0500 - FRANKFURT (Reuters) - German airline Lufthansa announced a change to its dividend policy on Wednesday, saying it would pay out between 10 and 25 percent of earnings before interest and tax (EBIT) from next year.
- Hudson's Bay loss narrows as Saks helps it nearly double sales
- Tue, 09 Dec 2014 13:55:01 -0500 -
By Solarina Ho TORONTO (Reuters) - The purchase of upscale U.S. retailer Saks Inc helped Canadian department store operator Hudson's Bay Co nearly double retail sales and post a smaller quarterly loss on Tuesday. While its earnings per share were slightly below expectations, Hudson's Bay stock rebounded from early losses to rise 2.1 percent to C$23.99 in Toronto. The stock has taken much of its recent direction from the retailer's moves to extract greater value from its real estate portfolio. The shares hit a record high in November after the company took a $1. ...
- Merck says still plans to buy Cubist, despite patent setback
- Tue, 09 Dec 2014 09:35:12 -0500 -
(Reuters) - Merck & Co Inc said on Tuesday it will proceed with its planned $8.4 billion purchase of Cubist Pharmaceuticals Inc and still expects the deal to boost its long-term earnings, despite a court ruling that could speed the arrival of generic forms of Cubist's top-selling product. Merck shares fell 3.7 percent to $59.55 in early trading. Cubist slid nearly 3 percent to $97.60. Late Friday, Merck said it planned to buy Cubist, whose flagship product is the widely used antibiotic Cubicin for skin infections. The deal would give Merck, the No. 2 U.S. ...
- South Africa's Implats says H1 earnings to plunge more than 20 pct
- Tue, 09 Dec 2014 03:24:13 -0500 - JOHANNESBURG (Reuters) - Shares of South Africa's Impala Platinum fell to their lowest level in more than nine years on Tuesday after the company said it expected first-half earnings to fall by more than 20 percent as safety stoppages and strikes hit production. The world's second-largest platinum producer is recovering from a five-month strike that cost it 300,000 ounces in lost output. Implats also temporarily closed part of its largest Zimbabwean mine operated by its Zimplats unit after an underground collapse in July. ...
- U.S. inflation expectations remain flat, NY Fed survey finds
- Mon, 08 Dec 2014 11:06:09 -0500 -
NEW YORK (Reuters) - Falling oil prices and a stronger U.S. dollar did not dampen Americans' inflation expectations last month, according to a Federal Reserve Bank of New York survey that also found a jump in expected earnings growth. Median expectations of inflation one and three years into the future have remained steady at 3.0 percent since August, even while one-year-ahead gasoline price predictions fell for a fourth straight month, according to the New York Fed's relatively new survey of consumer expectations. ...
- TSX flat, hurt by weakness in banks, oil and gas
- Fri, 05 Dec 2014 16:45:46 -0500 -
By Alastair Sharp TORONTO (Reuters) - Canada's main stock index ended flat on Friday, rattled by lusterless bank earnings and weakness in oil and gas shares, a day after its biggest single-day drop in 18 months. The resource-rich index has been pummeled in recent months by a slumping price for crude oil, which closed at its lowest since July 2009, with underwhelming numbers from some of Canada's biggest lenders adding to the gloom. ...