Archive for August 13th, 2009

American shoppers can’t decide if they’re ready to spend again or should hold off on that new plasma screen in case they lose their job, their home or their life savings. Big retailers also can’t decide. They posted better July sales figures than some had expected but a mixed batch of second-quarter earnings. Today the… »

Cash-strapped consumers are looking to get the most bang for their buck, forcing retailers to adapt to new spending habits, says Claire Gruppo, co-founder and managing director of investment bank and M&A firm Gruppo, Levey.”People aren’t comfortable paying for brands or an experience if they don’t feel it’s worth it,” Gruppo said, “and the trend… »

European airplane manufacturer Airbus is likely to get a positive boost to its A350 jet program on Friday, according to industry sources, as British business secretary Peter Mandelson will very probably announce financing support for the mid-sized airliner and might even specify a sum of close to 1 billion at a press conference.Several industry-watchers told… »

The euro-zone has hit back at the dollar’s recent gains with the out-of-left-field announcement that its economy barely contracted between April and June.On Thursday the 16-member euro zone reported its gross domestic product fell by only 0.1% during the second quarter, a significant improvement from the 2.5% drop it recorded in the first. The news… »

The Adam Opel saga is finally coming to an end. Canadian auto parts supplier Magna has reached an agreement in principle with General Motors’ management over a contract to buy a stake in General Motors’ European unit Opel, according to reports.The news follows weeks of constant bickering between the bidders – including Italy’s Fiat and… »

Two of the world’s biggest offshore financial jurisdictions were due, on Thursday afternoon in Washington D.C., to be taken off the “grey list” of uncooperative tax jurisdictions put together by the Organization for Economic Cooperation and Development. The reason: representatives of the Cayman Islands and the British Virgin Islands would be signing their 12th tax… »

Last week was a big one for real estate investment trusts. Several REITs beat analyst expectations and that sent the sector soaring in a market that was already optimistic. The NAREIT Equity Total Return Index gained 16.5% as investors sighed with relief at an industry which a few months ago looked ripe for bankruptcies. Now… »

There’s no reason to get excited yet. Anheuser-Busch InBev, the brewer of Stella Artois and Budweiser, said on Thursday profits grew 28% in the second quarter but warned that it will come under significant pressure in the second half of the year as beer volumes drop.Shares of AB InBev , which have more than doubled… »

It seems like exceptionally good news. Germany, Europe’s biggest economy, has just confounded expectations and emerged from its recession, thanks to reporting a quarter-on-quarter growth rate of 0.3% for the second quarter, instead of the contraction of 0.2% that was expected. A margin of five basis points is quite a difference-but don’t get too excited…. »

In the latest development in the global crackdown on tax havens, two of the world’s biggest offshore financial jurisdictions are scheduled on Thursday, to sign their 12th Tax Information Exchange Agreements , officially taking them off the “grey list” of offshore tax havens put together by the Organization for Economic Cooperation and Development. Representatives of… »