It’s not easy taking the helm of a company in the midst of an industry slump, but that’s exactly what Peter Voser did a month ago at Royal Dutch Shell. And now the pressure is on for him to expand his cost-cutting drive, after the oil major announced a 70% drop in second-quarter profits...
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Monthly Archives: July 2009
Disney Seeks Digital Magic – US-FOREX.US
Walt Disney hopes to show its movies overcame the weak economy and waning ad market during its fiscal third quarter, but Wall Street is more interested in its ideas about how to monetize the Internet. Disney ‘s market value has risen 14.1% since the beginning of the year. The Street expects the media conglomerate’s...
Apartment REITS To Buy And Avoid – US-FOREX.US
As real estate companies deluge investors with earnings reports this week and next, RBC analyst Mike Salinsky says a few property owners that specialize in apartment buildings present good opportunities. But investors need to watch out for dividend cuts and stock sales as firms try to raise cash in the recession.While other property companies,...
Americans Exhausting Jobless Benefits – US-FOREX.US
The unemployment rate masks the deterioration in the quality of the labor market, as more Americans are exhausting their unemployment benefits, potentially leading more defaults, foreclosures and bankruptcies.Americans have been wading in unemployment lines for the longest amount time since 1948, when the government started keeping track. The average length of unemployment in June...
Exxon Chevron Next Up – US-FOREX.US
Steep second-quarter profit declines aren’t over yet for the oil sector as Exxon Mobil reports second-quarter results on Thursday and Chevron releases its second-quarter report on Friday. By now the market is well-versed in the difficult year-over-year comparisons plaguing oil companies so far. During 2008′s second quarter crude oil traded at 125 a barrel,...
Corruption Scandal Roils Switzerland – US-FOREX.US
A senior Swiss official accepting a 45,000 bribe? The U.S. citizen who made the allegation as he pled guilty to hiding money from the U.S. government might just has well have insulted all Swiss grannies. Switzerland prides itself on its clean image: the country ranks fifth on the 2008 Corruption Perceptions Index of Transparency...
Cadburys Gum Sandwich – US-FOREX.US
Before the recession hit, British candy maker Cadbury had to fight to defend its image as consumers became increasingly health-conscious. It launched “99-calorie” candy bars in 2005, acquired organic premium chocolate maker Green & Black’s and even promoted a scheme to allow schoolchildren to trade empty wrappers for sports equipment. Although chocolate sales still...
ArcelorMittal Blurs Steel Outlook – US-FOREX.US
Signs of the recovery in demand for steel aren’t translating into concrete numbers for its suppliers it seems, highlighted by the latest update from Lakshmi Mittal’s ArcelorMittal.The firm’s forecasts for the a third quarter EBITDA of between 1.4 billion and 1.8 billion disappointed a market that had been hoping that signs of the green...
Sleek SAP Is Primed For Recovery – US-FOREX.US
When the economy recovers, some companies will come back with a bang and others will arrive with a calm “hello.” SAP seems content to go with the latter. The world’s biggest maker of business software surprised the market on Wednesday when it showed just how well it had done to keep a lid on...