Business Report
Join London-based financial analyst Henk Potts, of Barclays Wealth, for business and banter every morning at 7:50 a.m. during The National.
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Business Report: Glencore and Xstrata in major merger talksFriday, 3 February, 2012Robert Harris of Forth Capital discusses a possible massive merger deal between Swiss-based Glencore and Xstrata. He says one thorny issue concerns future management of the newly merged organization. Also, he talks about the haircut Greece is forcing on its creditors—to the tune of 70 percent:
Business Report: Facebook to float stock to try to raise billionsThursday, 2 February, 2012Robert Harris of Forth Capital talks about yesterday’s positive markets amid good manufacturing data. In corporate news, Facebook will be floating its stock, hoping to raise $5 billion. Plus a European Commission ruling stops the creation of a new derivatives exchange:
Business Report: Europe's jobless rate highest since euro introWednesday, 1 February, 2012Robert Harris of Forth Capital talks about lower stocks in the U.S., pushed down by poor consumer confidence numbers. Plus Amazon’s results are lower than expected. Chinese exports fell due to reduced demand in Europe. And the details on European unemployment as it climbs to an all-time high since the introduction of the euro:
Business Report: Markets slump on EU Fiscal Compact signingTuesday, 31 January, 2012Robert Harris of Forth Capital discusses lower markets on fears of recession and lack of confidence in EU leaders’ ability to deal with the eurozone debt crisis—even though they finalized the Fiscal Compact yesterday. But if the markets are being pulled down, Harris explains why they are also being pushed up by cheap valuations:
Business Report: U.S. GDP trails market expectationsMonday, 30 January, 2012Robert Harris of Forth Capital reviews the U.S. GDP figures and its downward pressure on markets. And in EU summit news, the deficit control treaty is on the agenda today to try to stabilize eurozone economies. Stark unemployment rates remain a big issue in some parts of Europe. And a deal is reported to be near in Greece’s talks with private creditors. Plus, a preview of big numbers to watch this week:
Business Report: easyJet stock price takes offFriday, 27 January, 2012Robert Harris of Forth Capital talks to WRS’s Dave Goodman about the rallying markets in January, pushed up strong economic data including corporate results from the U.S. And U.S. GDP figures are out today, expected to be up from last year. Meanwhile, easyJet’s stock price is up by 10 percent, bolstered by a 17 percent rise in profits. And an update on Greece’s talks with the private sector on renegotiating its debt repayment on loans:
Business Report: America pulls markets up with low interestThursday, 26 January, 2012It was a disappointing day for European markets yesterday on news of poor GDP growth in the UK, lack of Greek bond resolution and uninspiring corporate earnings. Meanwhile on Wall Street, spirits were high as Fed chief Ben Bernanke announced that near-0 percent interest rates are here to stay through 2014 and Apple shares were up 6 percent, blowing away expectations. Henk Potts has details:
Business Report: IMF cuts global forecast growth for 2012Wednesday, 25 January, 2012The International Monetary Fund downgrades predicted growth of the global economy. Henk Potts has the details. He also comments on the Annual Summit of the World Economic Forum. In corporate news, Siemens is struggling as profits slump 23 percent. And McDonald’s produces stunning revenue numbers:
Business Report: EU bans oil imports from IranTuesday, 24 January, 2012European shares were up yesterday after a report that France and Germany were calling for a watering down of banking rules. In other news, the EU banned imports of oil from Iran and imposed other sanctions—to pressure Iran to stop its nuclear development program. On the corporate scene, Henk Potts looks ahead to Apple’s stunning estimated quarterly sales:
Business Report: Ikea posts 10 percent rise in profitsMonday, 23 January, 2012Henk Potts talks about the steady gains on the market last week accompanied by positive Chinese growth and successful bond auctions from Spain and France. This week more companies are putting out more fourth quarter earnings. In other news, negotiators left Greece this weekend without securing a deal to write off a portion of the country’s debt. And finally, Ikea posted a 10 percent rise in profits due to sales in emerging markets: