Archive for August 4th, 2009

HONG KONG – The credibility of the Chinese government has reached a new low: according to a new poll, Chinese people trust prostitutes more than they trust politicians.According to an internet survey jointly conducted by state-owned monthly magazine Xiaokang and China’s largest portal, sina.com , Chinese netizens say that farmers, religious workers, sex workers, soldiers… »

Analysts don’t expect much from Sunoco this quarter.Profit weakness plaguing all U.S. refiners stemming from gasoline overproduction, recessionary summer demand and brimming inventories has already been priced into shares. According to Citi analyst Faisel Khan, these factors have pulled the sector down roughly 30% this year. But while Khan’s expectations that the sector’s second- and… »

When insurance companies Prudential Financial and Allstate report earnings on Wednesday, investors will get a glimpse into the health of non-bank financial services companies. On both fronts there’s some cause for optimism, say analysts but Prudential is by far the stronger of the two.J.P. Morgan analyst Jimmy S. Bhullar believes that after issuing 1.2 billion… »

Americans are strapped for cash, as personal income flattened in June while gas prices rose, further tightening the grip many individuals and families feel from mortgage payments, credit card bills and a weak labor market.The lift in May income from the one-time Social Security stimulus payments has long past and personal income fell to 1.3%… »

Everyone loves a bit of extra cash. Online jukebox Spotify is reportedly close to securing up to 50 million in new investment, valuing the streaming music service at 250 million. Some of those interested investors allegedly include Hong Kong tycoon and Facebook backer Li Ka-shing’s charitable foundation and a London-based venture capital firm.Though neither Spotify… »

During a time in which consumers haven’t been buying as much-and seeking out cheaper store brands when they do-even companies selling consumer staples, like Procter & Gamble, are streamlining.Having a portfolio of popular brands is a mixed blessing in the current economic environment, since consumers often associate well-known labels with higher prices. Although some expect… »

While economists have been eyeing unemployment figures and gross domestic product for signs the recession is ending, nothing gets the market pumped like Americans hitting the mall. Consumer spending is 70% of the economy; retailers report monthly sales on Thursday, and analysts think revenues will be down again.Barclays Capital analyst Jeff Black tells investors to… »

With support for “ObamaCare” flatlining, the American president has often sought to revive support for his bill by pointing critics to the health of European models like Britain’s National Health Service . But even some Brits aren’t buying it.There are still big problems at the NHS, despite the Labour government’s increased spending over the past… »

BMW is getting back in shape. The German luxury carmaker beat operating profit estimates for its second quarter on Tuesday, thanks to aggressive cost cutting measures, while its sales appear to be on the road to recovery.”We believe BMW is the best quality name in the European auto sector. In our view, second quarter results… »

UBS might be lagging behind its European peers in banking, but it still manages a lot of the world’s wealth: The Swiss bank looks after 1.65 trillion Swiss francs worth of assets for private individuals worldwide. Yet that number is in constant flux now that private banking clients from the U.S. and Europe are getting… »