Archive for August 19th, 2009

HONG KONG – Since Qantas Airways cannot see through the clouds ahead, the flying kangaroo has turned on the emergency navigation system and readied a cost-cutting parachute to lighten its load for a safe landing. Because “high levels of volatility in the economic outlook, industry capacity, passenger demand, fuel prices and exchange rates continue,” Qantas… »

Billionaire Liliane Bettencourt, L’Oreal’s largest shareholder, does not have much to look forward to this year. Not only will her private life be scrutinized in a much-publicized legal battle between her daughter Francoise and photographer Francois-Marie Banier-who stands accused of wheedling nearly 1.4 billion out of the 86-year-old Liliane-but the woeful performance of L’Oreal is… »

It’s a tough business if customers aren’t buying what you’re selling. This summer videogame sales have fallen sharply from last year, defying the prerecession assumption that the industry is growing so fast that nothing can stop it. Investors will get a look at the fallout when GameStop reports earnings on Thursday morning. The retailer is… »

European carmakers are struggling to reinvent themselves in an effort to fight falls in sales; on Wednesday Berlin predicted 1 million electric cars on Germany’s roads by 2020, as Europe’s largest economy tries to create a positive impact on the ailing automotive sector. But adding electric cars to the mix won’t do the trick, say… »

To assist the U.S. government Switzerland has lifted its veil of secrecy and has agreed to give 4,450 banking client names to the Internal Revenue Service. The international crackdown on tax evasion has been gaining ever more momentum as governments, smarting from the economic crisis, seek to claw back as much revenue as they can…. »

After the stock market lost 37% last year, retail investors have developed a taste for comparatively stodgy fixed-income assets, especially exchange-traded funds. Assets under management by fixed-income ETFs climbed 47%, to 83 billion, this year, according to Barclay’s data. That gain outpaced the 17% jump in assets held by all U.S. ETFs.“Some people are feeling… »

While recent pullbacks across raw materials may stoke fears of the bubble bursting, commodities bulls are undeterred. Inventories, after all, are extremely low and will have to be replenished once demand improves. Until then, volatility is just part of the game.Fears that China’s inventory build is over and that the economic recovery won’t be as… »