Tag Archive
Consumers Trade Down – US-FOREX.US
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… »
July Job Cuts Expected To Wane – US-FOREX.US
Wall Street may be encouraged by the waning level of job losses on Friday, but it will mean little to Americans stuck in unemployment lines and struggling to make ends meet.On Friday, the U.S. Labor Department is expected to announce that the national unemployment rate rose to 9.7% in July, as 300,000 Americans lost their… »
Unilever Loses Profit Power – US-FOREX.US
Anglo-Dutch firm Unilever delivered what investors wanted on Thursday-a surprisingly good 2% rise in second-quarter volumes-but at what cost? The household goods company’s earnings sank 15% over the year, almost on par with rival Procter & Gamble’s disappointing profits drop, after it spent more on advertising and held back from hiking prices too much. Is… »
Retail Rumble – US-FOREX.US
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… »
Pharma Wobbles Ahead For Reckitt – US-FOREX.US
Reckitt Benckiser has an answer for most consumers, whether it’s surface cleaners like Harpic or health products like Strepsils, but does it have an answer for its pharmaceutical division? The unit will lose exclusivity on its Suboxone heroin-addiction treatment in the United States later this year, and doesn’t seem to have a secret weapon to… »
Reducing GDP Negatives – US-FOREX.US
The U.S. economy is in transition, and the reduction of negatives expected in the second quarter, gross domestic product, will be an important guide to the rest of the year.”The consumer is still weak, making this a business-led recovery, which isn’t perfect, but we’re moving in the right direction,” said Joe LaVorgna, chief U.S. economist… »
New Home Sales Test Market – US-FOREX.US
Existing home sales in June gave Wall Street hope the troubled market is on the mend. The real test will come Monday when the government reports new-home-sales figures, which don’t benefit from mortgage foreclosures.Abiel Reinhart, an economist at JPMorgan Chase, believes new home sales in June grew moderately to 350,000, in line with expectations. The… »
Housing Fits And Starts – US-FOREX.US
Housing data this week were encouraging, with home building figures and industry sentiment measurements exceeding expectations, and some forecasters are straying into 2009’s heresy and calling bottoms for the national residential housing market.June housing starts unexpectedly rose to 582,000, the highest level since November of 2008, the U.S. Commerce Department reported Friday. The Street had… »
Americans Say No To New Loans – US-FOREX.US
A survey of credit unions found Americans are turning down credit,opting instead to hold on to their cash and pay down existing loans. Since the leaner months of 2008 and early 2009, though credit has become more available, there’s less demand for it. Some of the bigger banks have cut credit lines, but credit unions… »
U.S. Retail Sales Improve In June – US-FOREX.US
Retail sales met expectations in June, but there’s still a long way to go before economic recovery.While the figures were in line with estimates, the U.S. Commerce Department found the June rise of 0.6% was mostly due to higher gas prices and auto sales. Further examination reveals an increase of only 0.3% when excluding motor… »