ECONOMY AND FINANCE


PSG Konsult sees Heps up 4% despite difficult economy


Reported to us by: MONEYWEB - Wed, 04/17/2019 - 19:47 - [CET]
Francios Gouws – CEO, PSG Konsult
Newsitem placed in category: ECONOMY AND FINANCE

Trump Administration Offers New Flexibility in Opportunity Zones


Reported to us by: WALL STREET JOURNAL - US. BUSINESS NEWS - Wed, 04/17/2019 - 19:34 - [CET]
The Treasury Department is releasing a new round of regulations for tax-favored investments in low-income areas—aiming to clarify definitions for investors who are seeking to use the tax break, but wary of moving forward without clear rules.
Newsitem placed in category: ECONOMY AND FINANCE

U.S., China Set Tentative Timeline for Next Round of Trade Talks


Reported to us by: WALL STREET JOURNAL - US. BUSINESS NEWS - Wed, 04/17/2019 - 19:24 - [CET]
The U.S. and China have tentatively scheduled a fresh round of face-to-face meetings as they seek to close out a trade deal, according to a person familiar with the situation.
Newsitem placed in category: ECONOMY AND FINANCE

Why Goldman Sachs raised $22M for 'no code' tech firm Unqork


Reported to us by: AMERICAN BANKER - Wed, 04/17/2019 - 19:22 - [CET]
The bank has funded and deployed the company's software, which can be used to quickly bring new products to market and reduce the need for programmers and other expenses.
Newsitem placed in category: ECONOMY AND FINANCE

Market Watcher


Reported to us by: MONEYWEB - Wed, 04/17/2019 - 19:21 - [CET]
David Shapiro – Deputy chairman, Sasfin Wealth
Newsitem placed in category: ECONOMY AND FINANCE

PSG Konsult se wesensverdienste groei 4%


Reported to us by: MONEYWEB - Wed, 04/17/2019 - 19:19 - [CET]
Francois Gouws, uitvoerende hoof van PSG Konsult & Louis van Rensburg, Portefeuljebestuurder by PSG Wealth.
Newsitem placed in category: ECONOMY AND FINANCE

Waarom mens nie nou na beleggings in huur-eiendomme moet kyk nie


Reported to us by: MONEYWEB - Wed, 04/17/2019 - 19:18 - [CET]
Erwin Rode, Hoof van Rode & Genote.
Newsitem placed in category: ECONOMY AND FINANCE

Kraninger outlines her vision for a revamped CFPB


Reported to us by: AMERICAN BANKER - Wed, 04/17/2019 - 19:18 - [CET]
In her first policy speech since being confirmed as the agency's director, Kathy Kraninger promised less focus on enforcement actions and more emphasis on consumer education.
Newsitem placed in category: ECONOMY AND FINANCE

Clicks se wesensverdienste groei met 13.2%


Reported to us by: MONEYWEB - Wed, 04/17/2019 - 19:16 - [CET]
Vikesh Ramsunder, uitvoerende hoof van Clicks & Louis van Rensburg, Portefeuljebestuurder by PSG Wealth.
Newsitem placed in category: ECONOMY AND FINANCE

VPI styg met 4.5% in Maart


Reported to us by: MONEYWEB - Wed, 04/17/2019 - 19:15 - [CET]
Ettienne le Roux, Hoof-ekonoom by Rand Aksepbank & Louis van Rensburg, Portefeuljebestuurder by PSG Wealth.
Newsitem placed in category: ECONOMY AND FINANCE

RIL in talks to buy Hamleys


Reported to us by: The Hindu Biz. - Wed, 04/17/2019 - 19:14 - [CET]
Reliance Retail already holds licence to sell the toys
Newsitem placed in category: ECONOMY AND FINANCE

Markoorsig


Reported to us by: MONEYWEB - Wed, 04/17/2019 - 19:14 - [CET]
Louis van Rensburg, Portefeuljebestuurder by PSG Wealth.
Newsitem placed in category: ECONOMY AND FINANCE

Markverslag


Reported to us by: MONEYWEB - Wed, 04/17/2019 - 19:14 - [CET]
Hendré le Roux – Innovation Wealth.
Newsitem placed in category: ECONOMY AND FINANCE

Sleek new SUVs dominate reveals at New York auto show


Reported to us by: ABC Business - Wed, 04/17/2019 - 19:12 - [CET]
Sleek new SUVs from Subaru, Toyota, Hyundai, Lincoln dominate New York International Auto Show
Newsitem placed in category: ECONOMY AND FINANCE

IT major Mindtree joins $1-billion club


Reported to us by: The Hindu Biz. - Wed, 04/17/2019 - 19:05 - [CET]
Company to dole out anniversary dividends; full fiscal and Q4 performance exceptional: CEO Ravanan
Newsitem placed in category: ECONOMY AND FINANCE

Crisil board clears transfer of rating business to subsidiary


Reported to us by: The Hindu Biz. - Wed, 04/17/2019 - 19:03 - [CET]
Segregating rating, non-rating businesses as per SEBI rules
Newsitem placed in category: ECONOMY AND FINANCE

Panasonic to integrate divisions


Reported to us by: The Hindu Biz. - Wed, 04/17/2019 - 18:55 - [CET]
Eyes ₹1,000 cr. revenue from manufacturing in 3 years
Newsitem placed in category: ECONOMY AND FINANCE

Dull year likely for FMCG sector: report


Reported to us by: The Hindu Biz. - Wed, 04/17/2019 - 18:53 - [CET]
Slowing rural demand dampening industry growth, says Nielsen
Newsitem placed in category: ECONOMY AND FINANCE

Rising prices worry cotton trade


Reported to us by: The Hindu Biz. - Wed, 04/17/2019 - 18:53 - [CET]
Associations seek Cotton Advisory Board meet to get clarity on production scene
Newsitem placed in category: ECONOMY AND FINANCE

ICICI Bank to offer instant auto loans


Reported to us by: The Hindu Biz. - Wed, 04/17/2019 - 18:53 - [CET]
ICICI Bank will offer loans to its customers who are planning to buy two and four-wheelers up to ₹2 lakh and ₹20 lakh, by providing the final sanction
Newsitem placed in category: ECONOMY AND FINANCE

RIL arm, MOL in pact


Reported to us by: The Hindu Biz. - Wed, 04/17/2019 - 18:51 - [CET]
To invest in very large ethane carriers
Newsitem placed in category: ECONOMY AND FINANCE

U.S. Bancorp chief downplays interest in M&A


Reported to us by: AMERICAN BANKER - Wed, 04/17/2019 - 18:46 - [CET]
Asked whether the BB&T-SunTrust deal had sparked a desire to pursue deals, Andy Cecere emphasized a focus on digital upgrades and opening branches in new markets.
Newsitem placed in category: ECONOMY AND FINANCE

Hyundai ‘connects’ with the customer


Reported to us by: The Hindu Biz. - Wed, 04/17/2019 - 18:36 - [CET]
South Korean auto major unveils Venue, its first-ever connected vehicle in India
Newsitem placed in category: ECONOMY AND FINANCE

Policybazaar unveils cashless claim settlement of motor cover


Reported to us by: The Hindu Biz. - Wed, 04/17/2019 - 18:35 - [CET]
Motorists can opt for claims’ approvals across all garages
Newsitem placed in category: ECONOMY AND FINANCE

Tiruppur set to scale a new peak in knitwear exports


Reported to us by: The Hindu Biz. - Wed, 04/17/2019 - 18:35 - [CET]
TEA cities hike in rebate on State, Central taxes and levies
Newsitem placed in category: ECONOMY AND FINANCE

Fed's Harker: Still Possible for One 2019 Rate Hike, One More In 2020


Reported to us by: WALL STREET JOURNAL - US. BUSINESS NEWS - Wed, 04/17/2019 - 18:31 - [CET]
Federal Reserve Bank of Philadelphia President Patrick Harker is sticking with his view the U.S. central bank may be able to raise rates two more times over the next couple of years.
Newsitem placed in category: ECONOMY AND FINANCE

Dow transports soar to buck broader stock market slump, led by CSX and United Continental


Reported to us by: MARKETWATCH - Wed, 04/17/2019 - 18:11 - [CET]

The Dow Jones Transportation Average soared 120 points, or 1.1%, in midday trade, as better-than-expected earnings reports helped the transportation sector tracker buck the weakness in the broader stock market. The Dow transports was led higher by earnings reporters, as shares of railroad operator CSX Corp. shot up 4.6%, airline United Continental Holdings Inc. rallied 4.3% and Kansas City Southern hiked up 4.0%, after those companies all reported earnings that beat expectations. The stock price gains were adding a combined 73 points to the Dow transports' price. Meanwhile, the Dow Jones Industrial Average shed 52 points, or 0.2%, the S&P 500 gave up 0.3% and the Nasdaq Composite slipped 0.2%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Newsitem placed in category: ECONOMY AND FINANCE

Apple suppliers fall after Qualcomm settlement


Reported to us by: MARKETWATCH - Wed, 04/17/2019 - 18:06 - [CET]

Shares of several Apple Inc. suppliers are down after the company announced that it was settling its long-running patent litigation with Qualcomm Inc. . Macquarie analyst Srini Pajjuri downgraded shares of Skyworks Inc. to neutral from outperform on Tuesday, writing that while he doesn't see too much risk from Qualcomm when it comes to low-band power amplifier duplexers (PADs), Qualcomm is competitive with its diversity receive modules (DRx modules), which could lead to price pressure for Skyworks. Skyworks gets close to half of its revenue from Apple. Pajjuri also wrote that he sees some risk to his calendar 2020 estimates for Qorvo Inc. as both Qorvo and Broadcom Inc. benefitted from Qualcomm share losses at Apple. Broadcom shares are up 0.6% in midday trading Wednesday, while Skyworks and Qorvo shares are down 2.2% and 1.6%, respectively. Skyworks shares have gained 33% over the past three months, as the S&P 500 has risen 10%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Newsitem placed in category: ECONOMY AND FINANCE

'I know it’s disappointing,' BNY Mellon chief says of 1Q


Reported to us by: AMERICAN BANKER - Wed, 04/17/2019 - 18:05 - [CET]
Bank of New York Mellon's clients shifted more of their deposits to higher-rate products. It was one of several trends that hurt the custody bank's bottom line.
Newsitem placed in category: ECONOMY AND FINANCE

Report: Federal authorities charge 53 medical professionals across 7 states for prescribing and distributing opioids


Reported to us by: MARKETWATCH - Wed, 04/17/2019 - 18:03 - [CET]

Federal authorities have charged 60 people across at least seven states for their roles in illegally prescribing and distributing opioids and other dangerous drugs, according to a report by the Associated Press. Authorities said those charged include 53 medical professionals in Alabama, Kentucky, Louisiana, Ohio, Pennsylvania, Tennessee and West Virginia. They helped prescribe and distribute around 350,000 prescriptions and 32 million pills, authorities said.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Newsitem placed in category: ECONOMY AND FINANCE

To some market vets, stocks are rallying like it's 1999


Reported to us by: ABC Business - Wed, 04/17/2019 - 17:48 - [CET]
The stock market's dizzying drop last year and rapid recovery this year remind are reminiscent of the market's moves two decades ago
Newsitem placed in category: ECONOMY AND FINANCE

Sibanye-Stillwater, Amcu seal wage deal


Reported to us by: MONEYWEB - Wed, 04/17/2019 - 17:28 - [CET]
Wage deal ends a five-month strike that has hit gold production and earnings.
Newsitem placed in category: ECONOMY AND FINANCE

Wells Fargo's dividend yield nears decade high for Big Six bank


Reported to us by: AMERICAN BANKER - Wed, 04/17/2019 - 17:04 - [CET]
Wells Fargo is once again flirting with something that no major U.S. bank has done in a decade: have a dividend yield north of 4%. Don't expect a celebration.
Newsitem placed in category: ECONOMY AND FINANCE

To Woo Shoppers, Stores Are Accepting Competitors' Returns


Reported to us by: WALL STREET JOURNAL - US. BUSINESS NEWS - Wed, 04/17/2019 - 17:00 - [CET]
Walgreens Boots Alliance and Nordstrom will let online shoppers at other brands and retailers pick up or return orders at some stores, a sign of how retailers are partnering in new ways to draw customers.
Newsitem placed in category: ECONOMY AND FINANCE

New business owners find it's a mistake to work for free


Reported to us by: ABC Business - Wed, 04/17/2019 - 16:53 - [CET]
It's a situation many new business owners land in _ they're so anxious to find customers and clients that they work for little or no money
Newsitem placed in category: ECONOMY AND FINANCE

US stock indexes edge lower in morning trading


Reported to us by: ABC Business - Wed, 04/17/2019 - 16:41 - [CET]
Major U.S. stock indexes are down in morning trading as losses by health care companies outweigh gains elsewhere in the market
Newsitem placed in category: ECONOMY AND FINANCE

Denel aims to end Airbus A400M work within 18 months


Reported to us by: MONEYWEB - Wed, 04/17/2019 - 16:40 - [CET]
Denel is aiming to save on around $18m in costs by winding down production of parts.
Newsitem placed in category: ECONOMY AND FINANCE

EIA reports a decline in U.S. crude supplies, the first in 4 weeks


Reported to us by: MARKETWATCH - Wed, 04/17/2019 - 16:39 - [CET]

The Energy Information Administration on Wednesday reported that U.S. crude supplies fell by 1.4 million barrels for the week ended April 12. Analysts polled by S&P Global Platts expected a rise of 1.8 million barrels, following three consecutive weeks of increases. The American Petroleum Institute on Tuesday had reported a decrease of 3.1 million barrels, according to sources. The EIA data also showed inventory declines of 1.2 million barrels for gasoline and 400,000 barrels for distillates last week. The S&P Global Platts survey had shown expectations for supply declines of 2.5 million barrels for gasoline and 1.6 million barrels for distillates. May West Texas Intermediate crude was up 12 cents, or 0.2%, at $64.17 a barrel on the New York Mercantile Exchange, little changed from $64.15 before the supply data’s release.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Newsitem placed in category: ECONOMY AND FINANCE

The Student-Debt Crisis Hits Hardest at Historically Black Colleges


Reported to us by: WALL STREET JOURNAL - US. BUSINESS NEWS - Wed, 04/17/2019 - 16:28 - [CET]
Long a path to financial security, traditionally African-American schools are now producing graduates who struggle with disproportionately high debt. “The odds are kind of stacked up against me.”
Newsitem placed in category: ECONOMY AND FINANCE

Lululemon is nearing a peak: Instinet


Reported to us by: MARKETWATCH - Wed, 04/17/2019 - 16:27 - [CET]

With Lululemon Athletica Inc.'s investor day scheduled for April 24, Instinet analysts question the company's remaining capacity for growth. "Lululemon's clearly one of the strongest retail growth stories," wrote analysts led by Simeon Siegel. "However, it seems either sales or margins are approaching a peak." Analysts think Lululemon is "more a high-margin retailer than athletic brand," forecasting that the brand will guide for sales of $6.5 billion as part of its five-year plan. "[W]e worry Lululemon is now at the point where sales growth will likely come at the expense of margins," analysts said. Instinet rates Lululemon shares neutral with a $157. Lululemon stock has rallied more than 39% for 2019 so far, outpacing the S&P 500 index , which is up nearly 16% for the period.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Newsitem placed in category: ECONOMY AND FINANCE

Neiman Marcus acquires stake in Fashionphile


Reported to us by: ABC Business - Wed, 04/17/2019 - 16:19 - [CET]
Neiman Marcus gets serious about secondhand with a minority stake in Fashionphile
Newsitem placed in category: ECONOMY AND FINANCE

With stress tests, less is more


Reported to us by: AMERICAN BANKER - Wed, 04/17/2019 - 16:18 - [CET]
The Fed is stepping up transparency around its process for testing bank resiliency in a hypothetical crisis, but additional improvements are needed.
Newsitem placed in category: ECONOMY AND FINANCE

Blackstone Preparing to Sell Las Vegas Strip Hotel


Reported to us by: WALL STREET JOURNAL - US. BUSINESS NEWS - Wed, 04/17/2019 - 16:15 - [CET]
Private-equity firm Blackstone is exploring a sale of the Cosmopolitan hotel and casino in Las Vegas, the only major operating casino on the Strip to hit the market in more than a decade.
Newsitem placed in category: ECONOMY AND FINANCE

China weighs additional stimulus measures: report


Reported to us by: MARKETWATCH - Wed, 04/17/2019 - 16:14 - [CET]

Authorities in China are drafting additional stimulus measures aimed at boosting sales of cars and electronics, Bloomberg reported Wednesday, citing unidentified people familiar with the matter. The report comes after data showed China's economy grew a stronger-than-expected 6.4% year over year in the first quarter, matching the pace seen in the final months of 2018. The proposals include subsidies for new-energy vehicles, smartphones and home appliances, and are at the consultation stage with other government branches, the report said, with no guarantees they'll be approved. China has already undertaken a number of stimulus measures, which have been credited with helping to fuel a global equity rally since the end of last year, in an effort to avoid a hard landing for its economy.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Newsitem placed in category: ECONOMY AND FINANCE

India’s Jet Airways suspends all operations


Reported to us by: ARAB ECONOMY - Wed, 04/17/2019 - 16:13 - [CET]
Author: AFPID: 1555508633779180600Wed, 2019-04-17 13:38

MUMBAI: India’s debt-stricken Jet Airways grounded all of its operations Wednesday after failing to secure emergency funding from lenders, the carrier said in a statement.
“Jet Airways is compelled to cancel all its international and domestic flights. The last flight will operate today,” it said, adding that the decision would take “immediate effect.”
Jet had asked a consortium of lenders led by the State Bank of India to urgently provide four billion rupees ($57.5 million) but said that this had not been forthcoming.
“This has been a very difficult decision but without interim funding, the airline is simply unable to conduct flight operations in a manner that delivers to the very reasonable expectations of its guests, employees, partners and service providers,” it added.
The airline was once India’s second-biggest by market share but is on the brink of collapse with debts of more than $1 billion.
Jet was operating just five planes on Wednesday because it could not pay its bills, down from a fleet of more than 120 at its peak.
The carrier has canceled hundreds of flights in recent weeks, stranding thousands of passengers.
It has repeatedly defaulted on loans and failed to pay staff in recent months.
The consortium took control of Jet in March, pledging to give $218 million in “immediate funding support” as part of a debt resolution plan.
But they have failed to release most of the money and the banks also failed to agree after a meeting of several hours on Monday on how to proceed.
The SBI-led consortium is looking for a buyer for Jet and a deadline passed on Friday for prospective bidders to express an interest in acquiring a 75 percent stake in the carrier.
The SBI is yet to announce a shortlist of prospective bidders but Indian media said four were in the running including Etihad Airways, which already owns a 24 percent stake.
“Jet Airways will now await the bid finalization process by SBI and the consortium of Indian Lenders,” the airline said, adding that it hoped to resume services “as soon as possible.”
Bad investments, competition from several low-cost carriers, high oil prices and a weak rupee have led to Jet’s current financial predicament, analysts say.
A collapse of Jet, and the loss of more than 20,000 jobs, would deal a blow to Prime Minister Narendra Modi’s pro-business reputation as he seeks a second term in ongoing national elections.

Main category: Business & EconomyTags: Jet AirwaysIndia India’s Jet Airways holds crisis meeting after lenders reject fund injectionIndia’s Jet Airways grounds three quarters of fleet as it awaits bailout funds
Newsitem placed in category: ECONOMY AND FINANCE

Zimbabwe attracts two new investors to develop platinum mining projects


Reported to us by: MONEYWEB - Wed, 04/17/2019 - 16:13 - [CET]
The two investors would be joining a sector where Amplats and Implats already operate.
Newsitem placed in category: ECONOMY AND FINANCE

Jet Airways says it is halting operations from tonight


Reported to us by: The Hindu Biz. - Wed, 04/17/2019 - 16:08 - [CET]
The airline said the decision follows the lenders refusing to offer a lifeline.
Newsitem placed in category: ECONOMY AND FINANCE

U.S. wholesale inventories climb 0.2% in February


Reported to us by: MARKETWATCH - Wed, 04/17/2019 - 16:03 - [CET]

WASHINGTON (MarketWatch) - Wholesale inventories in the U.S. rose a mild 0.2% in February, the government said Wednesday. Sales increased 0.3% in the month. The ratio of inventories to sales was flat at 1.35. That's how many months it would take to sell all the inventory on hand. One year, ago the ratio stood at 1.29, when the economy was stronger. The increase in wholesale inventories in January, meanwhile, was unchanged at 1.2%

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Newsitem placed in category: ECONOMY AND FINANCE

Health-care stocks are down in early Wednesday trade, led by Anthem, Cigna and UnitedHealth


Reported to us by: MARKETWATCH - Wed, 04/17/2019 - 16:03 - [CET]

Health-care stocks continued to fall on Wednesday morning, led by Anthem Inc. , Cigna Corp. and UnitedHealth Group Inc. The Health Care Select Sector SPDR Fund was down 1.5% in early intraday trade. Companies in the managed care and health services sectors are facing "temporary downside risk," thanks to the Medicare-for-all debate, analysts at J.P. Morgan wrote in a note to clients Tuesday. UnitedHealth reported earnings on Tuesday that beat expectations, but shares still fell, a possible indication of investors' anxiety over U.S. Sen. Bernie Sanders' latest Medicare-for-all proposal. The Health Care Select Sector SPDR Fund has been lagging the market in recent months, gaining 1.2% in the year to date. The S&P 500 has gained 16% and the Dow Jones Industrial Average has gained 13.4%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Newsitem placed in category: ECONOMY AND FINANCE

Nasdaq-100 marks first intraday record in more than 6 months as technology stocks climb


Reported to us by: MARKETWATCH - Wed, 04/17/2019 - 16:00 - [CET]

A benchmark of the largest companies in the Nasdaq Composite Index on Wednesday morning carved out the first record intraday since October, according to FactSet data. The Nasdaq-100 touched an intraday high at 7,715.07, with its most intraday record at 7,700.56 occurring Oct. 1, 2018. The Nasdaq-100 was most recently at 7,687.35, which would put the index on pace for its first closing high at 7,660.18 since Aug. 29. Meanwhile, the Nasdaq isn't far from its own all-time closing high on Aug. 29 at 8,109.69, with an intraday record at 8,133.30 reached on Aug. 30. The Nasdaq was most recently flat at 7,997, meeting some resistance in early Wednesday action.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Newsitem placed in category: ECONOMY AND FINANCE

Lynas still has to move a radioactive mountain, say Malay officials


Reported to us by: Sydney Morning Herald - Business - Wed, 04/17/2019 - 16:00 - [CET]
Malaysia's Environment Minister accused Lynas of putting its bottom line before the environmental concerns of local Malays in a letter to Lynas employees.
Newsitem placed in category: ECONOMY AND FINANCE

Home loan competition to heat up with 'open banking': Moody's


Reported to us by: Sydney Morning Herald - Business - Wed, 04/17/2019 - 16:00 - [CET]
Banks will be pushed to compete more fiercely for home loan customers from early next year due to a new data-sharing regime that will come into force, Moody's predicts.
Newsitem placed in category: ECONOMY AND FINANCE

Macquarie Park gets $750m business district


Reported to us by: Sydney Morning Herald - Business - Wed, 04/17/2019 - 16:00 - [CET]
The bustling Macquarie Park district is set to get a $750 million community business precinct
Newsitem placed in category: ECONOMY AND FINANCE

'Arrogant and supercilious': Court extends lawyer's ban over diamond trade


Reported to us by: Sydney Morning Herald - Business - Wed, 04/17/2019 - 16:00 - [CET]
A lawyer described by a tribunal as "arrogant, supercilious and obtuse" has had his credit industry disqualification extended for creating a “sham” diamonds trade.
Newsitem placed in category: ECONOMY AND FINANCE

Company directors urge 'very clear' action on climate, energy policies


Reported to us by: Sydney Morning Herald - Business - Wed, 04/17/2019 - 16:00 - [CET]
The AICD report also showed directors are the least confident about the outlook for business they have been since the first half of 2015.
Newsitem placed in category: ECONOMY AND FINANCE

Domino's stock surges after Morgan Stanley turns bullish, boosts price target


Reported to us by: MARKETWATCH - Wed, 04/17/2019 - 15:59 - [CET]

Shares of Domino's Pizza Inc. surged 3.5% in morning trade Wednesday, after analyst John Glass at Morgan Stanley turned bullish on the pizza chain, citing "attractive valuation relative to slower growing peers." Glass raised his rating to overweight, after being at equal weight for at least the past three years, and boosted his price target to $283 from $268. Glass wrote in a research note that the upgrade comes as he is "taking advantage of what we believe is a price dislocation based on concerns over near-term trends." He said at current prices the stock is already pricing in a slowing in global same-store sales growth to 2% to 35 over the next two years, from growth of 5% to 6% over the past two years, "which we view as too bearish based on history for a best-in-class operator." He said there is some evidence, based on data on first-quarter Domino's app downloads, that concerns over decelerating U.S. same-store sales may be overdone. The company is schedule to report first-quarter results on April 24, before the open. The stock has now gained 6.6% year to date, while the S&P 500 has climbed 16%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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PepsiCo’s classic brands fuel profit beat, sending shares higher


Reported to us by: MONEYWEB - Wed, 04/17/2019 - 15:51 - [CET]
Sales growth was boosted by its key Frito-Lay operation and North American beverage unit.
Newsitem placed in category: ECONOMY AND FINANCE

Mediclinic shares lift on positive trading statement


Reported to us by: MONEYWEB - Wed, 04/17/2019 - 15:42 - [CET]
Guidance for SA margins perhaps the one 'downside surprise'.
Newsitem placed in category: ECONOMY AND FINANCE

Markets Right Now: Stocks open mostly higher, led by tech


Reported to us by: ABC Business - Wed, 04/17/2019 - 15:42 - [CET]
Stocks are opening mostly higher in early trading on Wall Street Wednesday, led by tech
Newsitem placed in category: ECONOMY AND FINANCE

Stocks open higher after upbeat corporate earnings


Reported to us by: MARKETWATCH - Wed, 04/17/2019 - 15:33 - [CET]

Stocks rose at the opening bell on Wednesday as investors keyed into the next round of first-quarter corporate earnings, while showing little interest in China's robust economic data. The S&P 500 was up 0.3% to 2,916. The Dow Jones Industrial Average picked up 32 points, or 0.1%, to 26,484. The Nasdaq Composite climbed 0.6% to 8,046. Key equity benchmarks continue to move toward their record highs, with the S&P 500 less than 1% away from its all-time closing high on Sept. 20. China's economy grew 6.4% on a yearly basis in the first-quarter, thanks to a rebound in industrial activity. In company news, shares of Netflix Inc. rose in pre-market trading after the entertainment firm said it attracted close to 10 million subscribers in its first-quarter results.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Newsitem placed in category: ECONOMY AND FINANCE

Carl's Jr. to test CBD-infused burger at this 1 restaurant on 4/20


Reported to us by: MARKETWATCH - Wed, 04/17/2019 - 15:27 - [CET]

Burger chain Carl's Jr. said Wednesday it will test a CBD-infused burger in Denver, timed with 4/20. The burger, which will be called "The Rocky Mountain High: CheeseBurger Delight," will be available for one day, on April 20th, at one Carl's Jr. location, at 4050 Colorado Blvd. The burgers will feature two beef patties, topped with Carl's Jr.'s Santa Fe Sauce infused with hemp-based CBD oil, pickled jalapenos, pepper jack cheese and Crisscut fries. "The new Rocky Mountain High: CheeseBurger Delight ties back to our core strategy of being the first to bring bold and unexpected flavors that are at the forefront of hot restaurant trends to a quick service menu," said Patty Trevino, senior vice president of brand marketing. Cannabidiol, known as CBD, is a chemical component of cannabis that doesn't contain the psychoactive components. The U.S. Food and Drug Administration has said that CBD remains a drug ingredient, and as a result is illegal to add to food and health products. Carl's Jr. is owned by CKE Restaurants.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Newsitem placed in category: ECONOMY AND FINANCE

Commercial, mortgage, card lending rise at U.S. Bancorp


Reported to us by: AMERICAN BANKER - Wed, 04/17/2019 - 15:23 - [CET]
The Minneapolis bank reported mid- to high-single-digit improvement in those categories, but total loan growth was curbed by declines in CRE and other credit types.
Newsitem placed in category: ECONOMY AND FINANCE

Vijay Mallya laments ‘airline karma’ in message for cash-strapped Jet Airways


Reported to us by: The Hindu Biz. - Wed, 04/17/2019 - 15:23 - [CET]
In a series of tweets, he claims private airlines were discriminated against by the Indian government, which bailed out State-owned Air India but did not assist his own Kingfisher Airlines and now Jet Airways
Newsitem placed in category: ECONOMY AND FINANCE

Palestinian economy in ‘crisis’ over Israel standoff: World Bank


Reported to us by: ARAB ECONOMY - Wed, 04/17/2019 - 15:08 - [CET]
Author: AFPID: 1555505147908865700Wed, 2019-04-17 12:35

JERUSALEM: The World Bank warned Wednesday of a deepening economic crisis in the occupied West Bank if the Palestinian Authority and Israel do not resolve a dispute over tax transfers.
Israel collects around $190 million a month in customs duties levied on goods destined for Palestinian markets that transit through its ports, and then transfers the money to the PA.
In February, Israel decided to deduct around $10 million a month from the revenues — the sum the PA paid families of prisoners or prisoners themselves serving time in Israeli jails — prompting the Palestinians to refuse any funds at all.
Israel sees the payments to those who have carried out attacks against Israelis as encouraging further violence.
The PA describes the payments as a form of welfare, while Palestinians venerate prisoners jailed by Israel as heroes for their cause.
In its Wednesday report, the World Bank said the unresolved standoff deepened a “fiscal crisis” that could increase the PA’s financial gap from $400 million in 2018 to one “exceeding $1 billion in 2019.”
“This is expected to choke economic activity, threatening to push the West Bank into negative growth,” the World Bank said.
“A resolution to the stand-off over clearance revenues is essential,” it said, referring to the tax transfers.
The bank also called for a change in Israel’s restrictions on Palestinian imports of so-called “dual-use goods” — products and technologies that can be used both for civilian and military purposes.
Israel bans 56 items from the West Bank and the Gaza Strip, and an additional 62 to Gaza only.
It has fought three wars with Palestinian militants in Gaza since 2008 and maintains a blockade on the enclave run by Islamist movement Hamas.
As a result of the restrictions, “the Palestinian economy is unable to access key production inputs and modern technology, challenging its ability to expand its production frontier and grow in a sustainable manner,” the report said.
The World Bank estimated that easing restrictions on such goods “could bring additional six-percent growth in the West Bank economy and 11 percent in Gaza by 2025.”
The bank’s report will be presented to the international donor group for Palestinians, known as the Ad Hoc Liaison Committee, at its meeting in Brussels on April 30.
It also noted “a continuous decline in real per capita income and a further rise in unemployment and poverty” in the Palestinian territories, with 52 percent of Gaza’s labor force jobless in 2018.
The Palestinian Authority has seen a dramatic drop in direct foreign aid, which has gone from 10 percent of gross domestic product five years ago to 3.5 percent last year.
In 2018, the United States cut hundreds of millions of dollars in Palestinian aid.

Main category: Business & Economy
Newsitem placed in category: ECONOMY AND FINANCE

Five million lost jobs in India between 2016 and 2018 – report


Reported to us by: MONEYWEB - Wed, 04/17/2019 - 15:06 - [CET]
Young urban men are being hit hardest.
Newsitem placed in category: ECONOMY AND FINANCE

Barbie, Hot Wheels Go to Hollywood in Mattel CEO's Turnaround Plan


Reported to us by: WALL STREET JOURNAL - US. BUSINESS NEWS - Wed, 04/17/2019 - 15:00 - [CET]
In an interview with The Wall Street Journal, Mattel CEO Ynon Kreiz tells of his plans to foster creativity to reverse the toy maker’s slump—and how he sees the future of physical playthings in a digital world.
Newsitem placed in category: ECONOMY AND FINANCE

Delays to T-Mobile-Sprint Deal Would Dent SoftBank


Reported to us by: WALL STREET JOURNAL - US. BUSINESS NEWS - Wed, 04/17/2019 - 14:49 - [CET]
Possible delays to Sprint’s planned merger with T-Mobile US threaten Sprint parent SoftBank’s ambition to invest in the world’s most valuable startups.​
Newsitem placed in category: ECONOMY AND FINANCE

Five million lost jobs in India between 2016 and 2018


Reported to us by: ARAB ECONOMY - Wed, 04/17/2019 - 14:46 - [CET]
Author: ReutersID: 1555505064488857200Wed, 2019-04-17 12:39

NEW DELHI: At least five million Indians lost their jobs between 2016 and 2018, and young urban men are being hit hardest, a Bengaluru-based private university said in a report on Tuesday.
The report by the Azim Premji University comes as Indians are voting in a staggered general election, which is due to end on May 19, with Prime Minister Narendra Modi’s government keen to defend its economic record, including on jobs.
“In addition to rising open unemployment among the higher educated, the less educated (and likely informal) workers have also seen job losses and reduced work opportunities since 2016,” said Amit Basole, an economist and lead author of the report.
The report did not say how many jobs were created during the period.
Modi’s abrupt withdrawal of high value currency notes from circulation in November 2016, with the aim of curbing tax evasion and promoting digital transactions, disrupted small businesses and sparked layoffs.
The introduction of a national sales tax the following year compounded difficulties for some businesses.
The unemployed were mostly higher educated and young people, in the 20-24 age range, according to the study titled “State of Working India 2019.”
“Among urban men, for example, this age group accounts for 13.5 percent of the working age population but 60 percent of the unemployed,” it said.
Modi has faced criticism for not doing enough to create jobs for millions of unemployed young people despite official annual economic growth of about 7 percent for the past five years.
An official survey that the government withheld showed unemployment rose to its highest level in at least 45 years in 2017/18, the Business Standard newspaper reported in February.
The unemployment rate rose to 7.2 percent in February 2019, its highest since September 2016, and up from 5.9 percent in February 2018, according to data compiled by the private research house, Center for Monitoring Indian Economy (CMIE).
The report suggested the next government should consider an urban employment guarantee scheme to create jobs, build infrastructure and provide services.
India has a rural jobs guarantee program, launched in 2006, which offers work to about 70 million rural people at the minimum wage for 100 days a year.
“India is at a crucial juncture in its economic development where timely public investment and public policy can reap huge rewards,” Basole said.

Main category: Business & EconomyTags: India India cancels poll in southern area over ‘vote buying’Aramco in talks to buy stake in refining business of India’s Reliance
Newsitem placed in category: ECONOMY AND FINANCE

Standard Bank withdraws funding of new coal IPP projects in SA


Reported to us by: MONEYWEB - Wed, 04/17/2019 - 14:42 - [CET]
Bank says has set up 'strict' parameters to guide future financing decisions.
Newsitem placed in category: ECONOMY AND FINANCE

US trade deficit narrows to $49.4 billion in February


Reported to us by: ABC Business - Wed, 04/17/2019 - 14:35 - [CET]
US trade deficit falls 3.4% in February to $49.4 billion; goods gap with China narrows
Newsitem placed in category: ECONOMY AND FINANCE

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