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General Mills reports weaker cereal, baking goods sales

Кubric: NEWS | 17 Dec 2014 | no comments yet »
General Mills reports weaker cereal, baking goods sales

General Mills Tops 2Q Profit Forecasts. The results beat Wall Street expectations. General Mills’ fiscal second-quarter net profits dropped by 37 percent and sales fell as weak demand continued to gnaw at the big packaged food maker. The maker of Cheerios cereal, Yoplait yogurt and other packaged foods posted revenue of $4.71 billion in the period, falling short of Street forecasts. Stripping out restructuring expenses, General Mills posted earnings per share of 80 cents, down from 83 cents a year ago, but above the 77 cents consensus forecast from analysts polled by Thomson Reuters. The company’s booming Nature Valley snack bar business will add a “Nut Crisps” version, a crunchy itme ...

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Uber CEO Wins Baidu China Backing Without Zuckerberg’s Mandarin

Кubric: NEWS | 17 Dec 2014 | no comments yet »
Uber CEO Wins Baidu China Backing Without Zuckerberg’s Mandarin

Baidu to buy Uber stake challenging Alibaba for car bookings. Beijing: Chinese internet giant Baidu Inc confirmed on Wednesday it is buying a stake in fast-growing international car-hailing service Uber as the pair chase growth in one of the world’s largest transportation markets.Baidu’s billionaire founder Robin Li is adding functions to help users of China’s biggest Internet search engine find shops and services on their smartphones and tablet computers.Baidu, China’s dominant search engine, today confirmed a strategic investment in Uber, the US-based on-demand car app that launched in China earlier this year. Investors are looking ahead to the Federal Reserve’s final policy meeting ...

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FedEx Misses Street 2Q Forecasts

Кubric: NEWS | 17 Dec 2014 | no comments yet »
FedEx Misses Street 2Q Forecasts

CompaniesFedEx shares slip as profits lag forecasts. FedEx missed second quarter earnings estimates Wednesday, citing aircraft maintenance expenses and lower fuel surcharges relating to the drop-off in oil prices.FedEx is the first company to report how the holiday season is shaping up, after many delivery companies were caught off guard last year by surging shipments and bad weather during the holiday season.FedEx Corp. (FDX) posted a quarterly profit that missed analysts’ estimates as the operator of the world’s largest cargo airline spent more on aircraft maintenance and collected less in fuel surcharges. Shares in Fedex fell in pre-market trading on Wednesday after the express parcel ...

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American Apparel Ends Founder Dov Charney’s Role With Hiring of Chief

Кubric: NEWS | 17 Dec 2014 | no comments yet »
American Apparel Ends Founder Dov Charney’s Role With Hiring of Chief

American Apparel CEO Dov Charney Fired By Board. Six months after abruptly removing its founder, Dov Charney, as chief executive, American Apparel chose the longtime retail executive Paula Schneider as its new leader. Dec. 17 (Bloomberg) — Dartmouth Tuck School of Business Associate Dean Sydney Finkelstein discusses the ouster of American Apparel CEO Dov Charney and his list of best and worst CEOs.Paula Schneider, American Apparel Inc. (APP)’s incoming chief executive officer, hasn’t even started work yet and she’s already facing a group of disgruntled managers.The Los Angeles company said the board terminated Charney “for cause in accordance with the terms of his employment ...

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Consumer Prices in U.S. Decline by Most in Six Years on Fuel

Кubric: NEWS | 17 Dec 2014 | no comments yet »
Consumer Prices in U.S. Decline by Most in Six Years on Fuel

Consumer Prices in U.S. Decline by Most in Six Years on Fuel. The cost of living in the U.S. fell in November by the most in almost six years, depressed by falling energy prices that signal inflation will stay below the Federal Reserve’s goal well into 2015. WASHINGTON (MarketWatch) — The sharp slide in gasoline prices gave another boost to U.S. households in November, as consumer prices fell by the biggest amount in six years and inflation-adjusted take-home pay rose just as the holiday season kicked into high gear. The consumer-price index dropped 0.3 percent, the most since December 2008, after being little changed the prior month, a Labor Department report showed today in Washington. ...

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Treasuries Decline Before Fed’s Decision on Rate-Increase Stance

Кubric: NEWS | 17 Dec 2014 | no comments yet »
Treasuries Decline Before Fed’s Decision on Rate-Increase Stance

Eerie calm amid eye of the risk-aversion storm. The central bank releases its statement and economic forecasts at 2 p.m. Treasuries fell before Federal Reserve policy makers wrap up a meeting amid speculation they’ll look beyond Russia’s currency crisis and discuss dropping a pledge to keep interest rates low for a “considerable time.” U.S. debt pared losses after a report showed inflation declined in November by the most in almost six years, depressed by falling energy prices. Dec. 17 (Bloomberg) — The Federal Reserve wraps up a two-day meeting as it considers a language change on rates and the impact of the collapse of the Russian ruble and falling oil prices.AUSTRALIA’S sharemarket ...

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Russian Government Tries to Support Volatile Ruble

Кubric: NEWS | 17 Dec 2014 | no comments yet »
Russian Government Tries to Support Volatile Ruble

Panic mood hits Russian economy. MOSCOW — Russian authorities appeared to be taking drastic action to stabilize their currency on Wednesday, a day after the worst swings since their 1998 financial wipeout. Moscow: Russia’s rouble strengthened on Wednesday after dramatic falls against the dollar in the previous two days but remained extremely volatile and fears of a prolonged crisis remained.Vladimir Putin may have stared down Tony Abbott and his “shirtfronting” threat at last month’s G20 summit in Brisbane, but the tough-talking Russian President is currently wrestling a mounting economic crisis that will really test his famed resilience.Moscow – Russia scrambled on ...

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