Articles tagged with growth
Wed, May 23, 2012
MetLife to outline growth plan, eyes emerging markets
(Reuters) - MetLife Inc
Tue, May 22, 2012
World Bank cuts China forecast, urges measured policy
By Koh Gui Qing
BEIJING (Reuters) - The World Bank cut its economic growth forecast for China this year to 8.2 percent on Wednesday ...
Tue, May 22, 2012
Do more to boost growth, IMF tells Britain
By Fiona Shaikh and Sven Egenter
LONDON (Reuters) - Britain's struggling economy needs the Bank of England to pump in more money and possibly ...
Mon, May 21, 2012
Euro zone needs growth and austerity: ECB's Asmussen
By Annika Breidthardt
BERLIN (Reuters) - A European growth pact and deeper political integration in the euro zone could bolster the currency union, but there ...
Mon, May 21, 2012
Euro zone needs growth and austerity: ECB's Asmussen
BERLIN (Reuters) - Europe's fiscal pact must not be renegotiated or softened but could be complemented by growth-enhancing measures, European Central Bank Executive Board ...
Mon, May 21, 2012
Stock index futures signal losses; Dell eyed
PARIS (Reuters) - Stock index futures pointed to a lower open on Wall Street on Wednesday, with futures for the S&P 500 down 0.65 percent, Dow Jones futures down 0.46 percent and Nasdaq 100 futures down 0.49 percent at 0911 GMT.
Dell Inc
Dell shares sank more than 11 percent in after hours trade on Wall Street on Tuesday and were down 12 percent in Frankfurt on Wednesday morning
Lenovo Group Ltd <0992.HK>, the world's No.2 PC maker, said on Wednesday that it expects a slowdown in corporate spending in the United States and Europe amid deepening global economic uncertainty.
Ariba Inc
Facebook
European stocks sank 1.5 percent in morning trade on Wednesday, reversing a two-session recovery rally, while the euro hit a 21-month low against the dollar ahead of an EU meeting later <.EU>.
The informal summit is expected to discuss growth-boosting measures and the prospect of common euro zone bonds, but investors doubt it will produce a plan to resolve the debt crisis and restore market optimism, especially as Germany strongly opposes the idea of mutualising debt.
The Congressional Budget Office warned on Tuesday a stalemate over how to tackle a series of fiscal deadlines at year's end would likely push the United States economy into recession in the first half of next year.
Wells Fargo & Co
Ford Motor Co
U.S. clothing maker Guess Inc
PetSmart Inc
On the macro front, investors awaited home price index for March, due at 1400 GMT, as well as new home sales for April, also due at 1400 GMT.
U.S. stocks closed mostly flat on Tuesday after volatility late in the session, with weakness in materials and energy shares offsetting strength in financials.
The Dow Jones industrial average <.DJI> dipped 1.67 points, or 0.01 percent, to 12,502.81 at the close. But the Standard & Poor's 500 Index <.SPX> was up just 0.64 of a point, or 0.05 percent, to 1,316.63. The Nasdaq Composite Index <.IXIC> declined 8.13 points, or 0.29 percent, to close at 2,839.08.
(Reporting by Blaise Robinson; Editing by Catherine Evans)
Sun, May 20, 2012
G8 growth talk leaves wary markets awaiting action
By William Schomberg
(Reuters) - A pledge by leaders of industrialized nations to help the troubled world economy is unlikely to herald quick new action ...
Sun, May 20, 2012
China's Wen urges more support for growth
BEIJING (Reuters) - China's premier called for additional efforts to support growth on Sunday, signaling Beijing's willingness to take action after a recent ...
Fri, May 18, 2012
World leaders back Greece, vow to combat financial turmoil
By Jeff Mason and Laura MacInnis
CAMP DAVID, Maryland (Reuters) - World leaders backed keeping Greece in the euro zone on Saturday and vowed to ...
Thu, May 17, 2012
China second quarter GDP growth seen at 7.5 percent: government think-tank
BEIJING (Reuters) - China's annual economic growth could slow to 7.5 percent in the second quarter, largely due to curbs on the property ...
Thu, May 17, 2012
Analysis: Facebook can't take Asian growth for granted
By Jeremy Wagstaff, Asia Chief Technology Correspondent
SINGAPORE (Reuters) - Even as Facebook fever grips investors ahead of the social networking giant's potential $100 ...
Wed, May 16, 2012
Starbucks makes management changes to accelerate growth
(Reuters) - Starbucks Corp
Wed, May 16, 2012
U.S. housing, industrial data point to steady growth
By Lucia Mutikani
WASHINGTON (Reuters) - Groundbreaking for U.S. homes rebounded in April and factory activity gained momentum, suggesting a moderate pickup in economic ...
Wed, May 16, 2012
Swatch eyes single or double digit sales growth
BIENNE, Switzerland (Reuters) - Swatch Group
Tue, May 15, 2012
Merkel, Hollande promise joint growth strategy
By Stephen Brown and Noah Barkin
BERLIN (Reuters) - New French President Francois Hollande and German Chancellor Angela Merkel acknowledged differences on Tuesday over how ...
Tue, May 15, 2012
U.S. welcomes growth debate in Europe
WASHINGTON (Reuters) - The Obama administration on Tuesday welcomed Europe's shift in its focus to economic growth from the tough budget measures that heavily ...
Tue, May 15, 2012
Groupon shares jump on strong North America growth
(Reuters) - Groupon Inc
Tue, May 15, 2012
Gameloft sees faster growth from second quarter on new launches
By Alice Cannet
PARIS (Reuters) - Mobile video game group Gameloft expects growth to speed up from the second quarter of 2012 as it launches ...
Tue, May 15, 2012
German economy powers on, French growth evaporates
By Alexandra Hudson and Daniel Flynn
BERLIN/PARIS (Reuters) - Germany's economy confounded expectations by posting robust growth in the first quarter of the ...
Mon, May 14, 2012
Brazil economy to miss 2012 growth target: sources
By Luciana Otoni and Patricia Duarte
BRASILIA/SAO PAULO (Reuters) - Senior members of Brazil's government now believe the economy will expand less than ...
Mon, May 14, 2012
Yahoo set for growth post management reshuffle: analysts
(Reuters) - Yahoo Inc's sweeping out of its chief executive and settling of a proxy fight with an investor open a path for stable ...
Sun, May 13, 2012
IMF cuts sub-Saharan Africa 2012 growth forecasts
By Helen Nyambura-Mwaura
JOHANNESBURG (Reuters) - Sub-Saharan Africa's economies will expand at a slower rate in 2012 than earlier projected, undermined by global financial ...
Sun, May 13, 2012
Analysis: China growth risks signal need for fiscal action
By Nick Edwards
BEIJING (Reuters) - China may need a back-up plan to stop economic growth being cut short by a surprise dip in demand ...
Sun, May 13, 2012
Analysis: China growth risks signal need for fiscal action
By Nick Edwards
BEIJING (Reuters) - China may need a back-up plan to stop economic growth being cut short by a surprise dip in demand ...
Sat, May 12, 2012
EU's Rehn against debt funded growth, backs Spain plan
TALLINN (Reuters) - The European Union's top economic official on Saturday warned against funding national growth packages with new debt and urged governments to ...
Sat, May 12, 2012
New ECB policymaker champions growth goals
NICOSIA (Reuters) - The EU's fiscal pact, intended to deter governments from running up more debt, should be supplemented with action to stimulate growth ...
Fri, May 11, 2012
Analysis: Facebook friends Itaú BBA in nod to Brazil growth
By Guillermo Parra-Bernal and Olivia Oran
SAO PAULO/NEW YORK (Reuters) - For most people, Facebook is a way to connect with friends and family ...
Fri, May 11, 2012
China economy shows unexpected signs of weakness
By Lucy Hornby and Langi Chiang
BEIJING (Reuters) - China's economy stuttered unexpectedly in April with lower than expected output data, softening retail sales ...
Thu, May 10, 2012
Merkel resists calls to put growth before reforms
By Stephen Brown
BERLIN (Reuters) - Chancellor Angela Merkel rejected calls from her centre-left opponents in Germany and Europe for economic stimulus policies that rely ...
Thu, May 10, 2012
Apple, supplier Foxconn to share costs on improving factories
By John Ruwitch
SHANGHAI (Reuters) - Apple Inc and its key supplier Foxconn Technology Group will share the initial costs of improving labor conditions at ...
Wed, May 09, 2012
Sage sales growth slows in tough European market
By Paul Sandle
LONDON (Reuters) - British software firm Sage said first-half revenue growth slowed to 2 percent from 5 percent a year earlier, missing ...
Tue, May 08, 2012
Disney earnings rise despite "John Carter" loss
By Lisa Richwine and Ronald Grover
LOS ANGELES (Reuters) - Walt Disney Co's quarterly earnings beat Wall Street expectations as profit rose 21 percent ...
Tue, May 08, 2012
Actelion sees no earnings growth until 2014
By Emma Thomasson and Caroline Copley
ZURICH (Reuters) - Europe's biggest biotech company Actelion said it would only return to earnings growth in 2014 ...
Mon, May 07, 2012
Goldman sees Graff profit growth double Tiffany's
By Fiona Lau
HONG KONG (Reuters) - Goldman Sachs
Sun, May 06, 2012
Looking to China to lift growth
By Stella Dawson and Nick Edwards
(Reuters) - With the United States struggling through a soft patch and Europe battling recession, China may come to ...
Sat, May 05, 2012
Europe must balance austerity with growth: EU's Rehn
By Ben Deighton
BRUSSELS (Reuters) - Europe needs to balance cutting its debt with measures to stimulate growth, the region's top economics official said ...
Fri, May 04, 2012
LinkedIn jumps as results underscore growth prospects
(Reuters) - Shares of LinkedIn Corp rose 10 percent on Friday, after the professional networking company raised its full-year outlook helped by strong demand for ...
Fri, May 04, 2012
US needs faster job growth, making progress: White House
WASHINGTON (Reuters) - The U.S. economy needs faster employment growth to fill a huge jobs deficit, but was making progress despite a weaker payrolls ...
Thu, May 03, 2012
Europe needs growth but don't look to ECB, Draghi says
By Paul Day and Marc Jones
BARCELONA, Spain (Reuters) - European Central Bank President Mario Draghi urged euro zone governments to agree a growth strategy ...
Wed, May 02, 2012
StanChart plans China growth, confident on income
By Kelvin Soh and Steve Slater
HONG KONG/LONDON (Reuters) - Standard Chartered
Tue, May 01, 2012
Jobs growth seen rebounding in April
By Jason Lange
WASHINGTON (Reuters) - Hiring by U.S. employers likely rebounded in April, which could ease worries the economy has stumbled into a ...
Tue, May 01, 2012
Factory growth best in 10 months; bolsters outlook
By Leah Schnurr
NEW YORK (Reuters) - Manufacturing grew in April at the strongest rate in 10 months, easing concerns the economy had lost momentum ...
Tue, May 01, 2012
Moody's dampens Games growth hopes
By Keith Weir
LONDON (Reuters) - Hosting the Olympics this year will give Britain's struggling economy and its companies only a short-term boost, and ...
Mon, April 30, 2012
Analysis: EU hunts for quicker, sharper growth kick
By Luke Baker
BRUSSELS (Reuters) - Slowly but surely, the European Union is shifting its message on promoting economic growth and is coming to the ...
Mon, April 30, 2012
EU's Barnier backs economic growth pact: paper
BERLIN (Reuters) - The EU's Internal Market Commissioner Michel Barnier has thrown his weight behind calls for an economic growth pact to complement an ...
Mon, April 30, 2012
S&P 500 flirts with two-month low before rebound
By Angela Moon
NEW YORK (Reuters) - Stocks fell for the fifth day in six on Wednesday as investors kept their focus on the turmoil ...
Sun, April 29, 2012
Shares steady near lows, investors fear Greece
By Richard Hubbard
LONDON (Reuters) - European shares and the euro steadied near their lows for the year on Monday as investor fears that Greece ...
Fri, April 27, 2012
Growth in employee costs slows in first quarter
WASHINGTON (Reuters) - Civilian employment costs rose more modestly by 0.4 percent during the first quarter, primarily because growth in benefits slowed after a ...
Fri, April 27, 2012
China says Q2 trade growth to stabilize at "low level"
BEIJING (Reuters) - China's trade growth in the second quarter should stabilize at a "low level", the Commerce Ministry said on Friday in a ...
Fri, April 27, 2012
F-Secure cuts growth outlook, shares drop
HELSINKI (Reuters) - Top European security software maker F-Secure Oyj cut its 2012 sales forecast and said a weak global economy could hurt its newly-launched ...
Fri, April 27, 2012
NetSuite 1st-qtr billings growth slows
By Chandni Doulatramani
(Reuters) - Business software maker NetSuite Inc posted a fall in billings growth in the first quarter, sending its shares down as ...
Fri, April 27, 2012
Apple sales rocket in China, but growth may slow
By Lee Chyen Yee
HONG KONG (Reuters) - Apple Inc is likely to see its sales growth nearly double in greater China this year, but ...
Fri, April 27, 2012
Inventories, weak business spending curb first-quarter growth
By Lucia Mutikani
WASHINGTON (Reuters) - U.S. economic growth cooled in the first quarter as businesses cut back on investment and restocked shelves at ...
Thu, April 26, 2012
Production growth lifts Shell; Exxon falls short
(Reuters) - Quarterly earnings from the top two publicly traded oil companies on Thursday showed clearly both the challenge and potential gains of growing output ...
Thu, April 26, 2012
Lockheed eyes growth amid "increasing headwinds"
WASHINGTON (Reuters) - Lockheed Chief Executive Bob Stevens and his successor, Chris Kubasik, who will move into the CEO job in January, told a news ...
Thu, April 26, 2012
Two new vaccines give Ghana hope for healthy growth
By Kate Kelland
ACCRA (Reuters) - When Odei Antwi-Agyei had the chance of introducing vaccines to prevent Ghana's children dying of diarrhea, or vaccines ...
Wed, April 25, 2012
Google trial docs show plans for growth past search
By Dan Levine and Alexei Oreskovic
(Reuters) - Google Inc projected in 2010 it would get more than 35 percent of its 2013 revenue from ...
Wed, April 25, 2012
Apple's growth hinges on China, new devices
By Poornima Gupta
SAN FRANCISCO (Reuters) - Sometimes even eye-popping results are not enough.
Apple Inc's shares rallied on Wednesday on the back of ...
Wed, April 25, 2012
Instant View: Fed raises forecast for 2012 GDP growth
NEW YORK (Reuters) - Fed raises forecast for 2012 GDP growth, lowers forecast for 2012 unemployment rate, raises forecast for 2012 core inflation.
COMMENTS:
JOSEPH ...
Wed, April 25, 2012
Analysis: Politics force growth back on to Europe's agenda
By Alan Wheatley, Global Economics Correspondent
LONDON (Reuters) - It's early days, but powerful political currents could be sweeping Europe away from its hair-shirt ...
Tue, April 24, 2012
California's population growth seen slowing
SAN FRANCISCO (Reuters) - California' population will grow at much slower pace than state officials projected as its birth rate sags and immigration levels off ...
Tue, April 24, 2012
New 3M CEO eyes natural resources, aero for growth
By John D. Stoll
(Reuters) - 3M Co
Tue, April 24, 2012
Analysis: Elusive China equity returns now face growth slowdown
By Sujata Rao
LONDON (Reuters) - Investors who have endured two decades of miserable stock market returns in China may have to wait a while ...
Mon, April 23, 2012
Netflix spooks Street with sputtering user growth
By Lisa Richwine
LOS ANGELES (Reuters) - Video rental company Netflix Inc projected slower subscriber growth this quarter for its key U.S. video-streaming service ...
Mon, April 23, 2012
Ilinois revenue growth fails to dent fiscal mountain
CHICAGO (Reuters) - Illinois continues to face "staggering fiscal challenges" as its unpaid bill backlog grows, despite revenue growth of 3.9 percent in the ...
Sun, April 22, 2012
Spain downgrade jars, Italy auction calms
By Michael Dolan
LONDON (Reuters) - Spanish and Italian borrowing rates nudged higher on Friday after a two-notch downgrade of Spain's sovereign credit rating ...
Sun, April 22, 2012
China to invest in infrastructure to bolster growth: report
BEIJING (Reuters) - China is set to speed up spending on roads, railways and utilities to boost economic growth, the official China Securities Journal said ...
Fri, April 20, 2012
Nestle sees tough 2012 after price hikes help sales
By Emma Thomasson
ZURICH (Reuters) - Nestle
Thu, April 19, 2012
Global growth seen subdued, still heavily reliant on Asia
By Jonathan Cable and Anooja Debnath
LONDON/SINGAPORE (Reuters) - The global economy is set to expand by a modest 3.3 percent this year ...
Thu, April 19, 2012
Verizon Wireless data revenue growth impresses
By Sinead Carew
NEW YORK (Reuters) - Verizon Communications Inc posted first-quarter earnings and revenue that beat Wall Street expectations as customers increased their spending ...
Wed, April 18, 2012
Italy shifts priority from austerity to growth
By Gavin Jones
ROME (Reuters) - Italian Prime Minister Mario Monti declared on Wednesday that reviving economic growth now had to take priority over belt ...
Wed, April 18, 2012
Lingering customers just one hurdle for Starbucks China growth
By Lisa Baertlein and Terril Yue Jones
LOS ANGELES/BEIJING (Reuters) - Starbucks Corp has ambitious expansion plans in China, but like any big new ...
Wed, April 18, 2012
Lingering customers just one hurdle as Starbucks eyes China growth
By Lisa Baertlein and Terril Yue Jones
LOS ANGELES/BEIJING (Reuters) - Starbucks Corp
Tue, April 17, 2012
World economy fragile, faces "uneasy calm:" IMF
By Stella Dawson
WASHINGTON (Reuters) - Global growth is slowly improving as the U.S. recovery gains traction and dangers from Europe recede, but risks ...
Tue, April 17, 2012
World growth improves slightly but still very fragile: IMF
By Stella Dawson
WASHINGTON (Reuters) - Global growth is slowly improving as recovery in the United States gains traction and dangers from Europe recede, but ...
Tue, April 17, 2012
Coke beats Street, sees signs U.S. economy improving
By Martinne Geller
(Reuters) - Coca-Cola Co
Mon, April 16, 2012
Strong retail sales ease growth worries
By Lucia Mutikani
WASHINGTON (Reuters) - Americans shrugged off high gasoline prices in March and spent more strongly than expected, suggesting economic growth in the ...
Mon, April 16, 2012
Carlyle betting on African consumer growth
By Tiisetso Motsoeneng and Helen Nyambura-Mwaura
JOHANNESBURG (Reuters) - Carlyle Group is examining potential investments across sub-Saharan Africa and especially in Nigeria, the co-head of ...
Mon, April 16, 2012
Strong U.S. retail sales ease growth worries
By Lucia Mutikani
WASHINGTON (Reuters) - Americans shrugged off high gasoline prices in March and spent more strongly than expected, suggesting economic growth in the ...
Mon, April 16, 2012
Retail sales strength eases growth worries
By Lucia Mutikani
WASHINGTON (Reuters) - Retail sales showed unexpected vigor in March as Americans shrugged off high gasoline prices and bought a range of ...
Mon, April 16, 2012
Analysis: No simple answer to EU growth vs austerity conundrum
By Paul Taylor
PARIS (Reuters) - Fierce debate is growing in Europe over whether austerity or growth offers the best strategy to overcome the continent ...
Fri, April 13, 2012
Infosys' slower revenue growth outlook slams shares
By Harichandan Arakali
BANGALORE (Reuters) - India's Infosys Ltd
Thu, April 12, 2012
Weak China GDP growth no signal for fresh stimulus
By Nick Edwards
BEIJING (Reuters) - Speculation that China's weakest quarter of annual economic growth since the global financial crisis will trigger a flood ...
Thu, April 12, 2012
China growth seen slower in 2012, recovery mild: World Bank
By Nick Edwards
BEIJING (Reuters) - The World Bank cut its forecast for China's 2012 economic growth to 8.2 percent on Thursday and ...
Tue, April 10, 2012
Yahoo CEO sketches out new plan to jump-start growth
By Alexei Oreskovic
SAN FRANCISCO (Reuters) - Yahoo Inc Chief Executive Scott Thompson outlined how the Internet pioneer will revive itself by putting in place ...
Tue, April 10, 2012
Honda eyes new models, strong growth in China
By Fang Yan and Don Durfee
BEIJING (Reuters) - Honda Motor Co Ltd will launch 10 more car models in China by 2015 and expects ...
Tue, April 10, 2012
Honda eyes new models, strong growth in China
By Fang Yan and Don Durfee
BEIJING (Reuters) - Honda Motor Co Ltd <7267.T> will launch 10 additional car models in China by 2015 and expects ...
Mon, April 09, 2012
Staffing shares mixed after slow U.S. jobs growth
By Lynn Adler
(Reuters) - Shares of staffing companies were mixed on Monday after a sluggish U.S. jobs growth report for March, with demand ...
Sun, April 08, 2012
China inflation data keeps policy bias on growth
By Koh Gui Qing
BEIJING (Reuters) - China's annual inflation rate jumped more than expected in March to 3.6 percent as food prices ...
Thu, April 05, 2012
BoE holds steady course as UK stumbles towards growth
By Sven Egenter and Olesya Dmitracova
LONDON (Reuters) - The Bank of England held back from giving Britain's fragile recovery an extra boost on ...
Wed, April 04, 2012
Analysis: Alternate growth gauge points to more U.S. job gains
By Lucia Mutikani
WASHINGTON (Reuters) - An alternate measure of the health of the U.S. economy suggests the current pace of job growth can ...
Wed, April 04, 2012
Businesses add jobs, service sector growth dips
By Leah Schnurr
NEW YORK (Reuters) - Businesses added more than 200,000 jobs in March, giving fresh evidence of recovery in the labor market ...
Wed, April 04, 2012
China's Wen urges breakup of bank monopoly as growth slows
(Reuters) - China's premier called the country's big banks a monopoly that needed to be broken to get money flowing to cash-starved private ...
Wed, April 04, 2012
Draghi dismisses ECB exit talk as premature
By Eva Kuehnen
FRANKFURT (Reuters) - European Central Bank President Mario Draghi dismissed a German-led push for the bank to start planning a retreat from ...
Wed, April 04, 2012
Motown hopes food will spur rebirth, growth
By Lisa Baertlein
DETROIT (Reuters) - When Slows Bar-B-Q opened in Detroit's Corktown district seven years ago, the neighborhood was so neglected that the ...
Tue, April 03, 2012
Strong U.S. job growth expected for March
By Lucia Mutikani
WASHINGTON (Reuters) - The U.S. economy likely notched up a fourth month of solid job growth in March, which would lower ...
Tue, April 03, 2012
China's Wen urges breakup of bank monopoly as growth slows
(Reuters) - China's premier called the country's big banks a monopoly that needed to be broken to get money flowing to cash-starved private ...
Mon, April 02, 2012
Fed's Bullard: U.S. inflation may reflect global growth
WASHINGTON (Reuters) - A top Federal Reserve official said faster global growth may be keeping inflation higher than expected in the United States.
"Typical estimates ...
Mon, April 02, 2012
Wall Street ends worst two weeks since November
By Ryan Vlastelica
NEW YORK (Reuters) - U.S. stocks closed their worst two-week slide since November with a selloff on Friday as disappointing China ...
Thu, March 29, 2012
Bernanke: Economy to return to trend growth
WASHINGTON (Reuters) - Federal Reserve Chairman Ben Bernanke said on Thursday that he expects the U.S. economy to return to a long-term growth rate ...
Tue, March 27, 2012
Manufacturing up, construction spending falls
By Leah Schnurr
NEW YORK (Reuters) - The pace of growth in manufacturing picked up last month, even as measures of new orders and exports ...
Tue, March 27, 2012
Analysis: Spain risks years without economic growth
By Paul Day
MADRID (Reuters) - Belt tightening in the board room and the living room, deep public budget cuts and anaemic bank lending may ...
Mon, March 26, 2012
Bernanke says U.S. needs faster growth
By Pedro da Costa and Jason Lange
WASHINGTON (Reuters) - The U.S. economy needs to grow more quickly to bring the unemployment rate down ...
Fri, March 23, 2012
Economic growth gauge held 7-month high last week: ECRI
NEW YORK (Reuters) - A measure of future economic growth edged up last week to hold a seven-month high, while the annualized growth rate also ...
Thu, March 22, 2012
ECB's Gonzalez-Paramo: Growth stabilizing at low level
By Nigel Davies
SEVILLE, Spain (Reuters) - Euro zone growth is stabilizing at low levels, ECB policymaker Jose Manuel Gonzalez-Paramo said on Thursday, adding that ...
Thu, March 22, 2012
Samsung sees smartphones leading Africa growth
CAPE TOWN (Reuters) - Samsung Electronics Co aims to double its share of the sub-Saharan smartphone market to 20 percent by next year, as it ...
Thu, March 22, 2012
Wall Street closes stellar quarter on up note
By Rodrigo Campos
NEW YORK (Reuters) - Stocks closed their strongest quarter in more than two years on a positive note on Friday, led by ...
Tue, March 20, 2012
More cost growth would cut F-35 buy: Air Force
WASHINGTON (Reuters) - Any further cost increase or problems with the $382 billion F-35 Joint Strike Fighter would mean reduced Pentagon purchases of the new ...
Mon, March 19, 2012
Geithner warns EU against hasty budget measures
WASHINGTON (Reuters) - U.S. Treasury Secretary Timothy Geithner said Europe was only at the initial stages of a long and difficult path toward fiscal ...
Mon, March 19, 2012
Wall Street mostly slips, but tech keeps S&P near 4-year highs
By Rodrigo Campos
NEW YORK (Reuters) - Stocks mostly fell on Wednesday, weighed by the energy services sector, but gains in technology shares buoyed the ...
Mon, March 19, 2012
Shares fall on sluggish U.S. jobs, focus on more data
By Chikako Mogi
TOKYO (Reuters) - Asian shares fell on Monday as a sharp slowdown in U.S. jobs growth raised concerns about the strength ...
Mon, March 19, 2012
Analysis: Nimble neighbors outshine Brazil on growth
By Terry Wade
MONTEVIDEO (Reuters) - Swift growth by nimble Latin American countries like Chile, Colombia and Peru has put renewed focus on regional heavyweight ...
Sun, March 18, 2012
China to reform, grow economy, IMF eyes freer yuan
By Kevin Yao and Koh Gui Qing
BEIJING (Reuters) - China cannot delay tough economic reforms, Vice Premier Li Keqiang said on Sunday, underscoring the ...
Sat, March 17, 2012
Growth China's top priority, inflation key risk-NDRC
By Kevin Yao
BEIJING (Reuters) - China's economic policy priority is to maintain relatively fast growth, but Beijing cannot lower its guard against inflation ...
Wed, March 14, 2012
China Mobile Q4 growth mild; hopes pinned on iPhone tie-up
By Lee Chyen Yee
HONG KONG (Reuters) - China Mobile <0941.HK>, the world's biggest wireless carrier by number of subscribers, met expectations by posting a ...
Wed, March 14, 2012
China's Tencent targets growth in online ads
By Lee Chyen Yee and Twinnie Siu
HONG KONG (Reuters) - Tencent Holdings Ltd, China's biggest internet company by revenue, plans to step up ...
Wed, March 14, 2012
Local Firm Pledges Job Growth During Wind Energy Forum in Holland
HOLLAND, MI (WHTC) - A discussion on the future of electricity in the Tulip City was held last evening in the Herrick District Library. A ...
Wed, March 14, 2012
Hugo Boss sees sales growth slowing in 2012
BASEL, Switzerland (Reuters) - German fashion house Hugo Boss
Wed, March 14, 2012
Bayer sees healthcare business driving growth
By Ludwig Burger
FRANKFURT (Reuters) - German chemicals and drugs group Bayer expects higher profit margins and sales at its healthcare division over the next ...
Wed, March 14, 2012
Solar power growth jumps to new record
By Matt Daily
(Reuters) - The national solar industry installed a record number of panels in 2011, more than double 2010, and is likely to ...
Tue, March 13, 2012
Chevron eyes 20 pct production growth by 2017
(Reuters) - Chevron Corp
Tue, March 13, 2012
Instant View: BOJ skips easing but extends loan scheme on growth
TOKYO (Reuters) - The Bank of Japan kept monetary policy steady after last month's surprise easing but extended a loan scheme for growth sectors ...
Mon, March 12, 2012
Weight Watchers sees growth in slimming men
By Lisa Baertlein
CHICAGO (Reuters) - David Kirchhoff, chief executive officer of Weight Watchers International Inc, shed 35 pounds (15.9 kg) with his company ...
Mon, March 12, 2012
BOJ refrains from easing, overrules lone stimulus proposal
By Leika Kihara
TOKYO (Reuters) - The Bank of Japan kept monetary policy on hold on Tuesday, overruling a lone proposal for more stimulus and ...
Mon, March 12, 2012
Weight Watchers sees growth in slimming men
By Lisa Baertlein
CHICAGO (Reuters) - David Kirchhoff, chief executive officer of Weight Watchers International Inc, shed 35 pounds (15.9 kg) with his company ...
Mon, March 12, 2012
S&P 500 ends best week since December with quiet day
By Ryan Vlastelica
NEW YORK (Reuters) - The S&P 500 closed out its best week in three months with a slim gain on Friday ...
Sun, March 11, 2012
Swatch eyes double-digit growth in 2012: paper
ZURICH (Reuters) - The chairwoman of watchmaker Swatch Group
"We have ...
Sun, March 11, 2012
China sacrifices growth to satiate inflation dragon
By Nick Edwards
BEIJING (Reuters) - If inflation is a dragon that must be slain, China's Premier Wen Jiabao has shown he is willing ...
Fri, March 09, 2012
Instant View: Job growth strong again in February
(Reuters) - Employment grew solidly for a third straight month in February, a sign the economic recovery was broadening and in less need of further ...
Fri, March 09, 2012
OPEC pumps record volumes despite demand worry
By Zaida Espana and Dmitry Zhdannikov
(Reuters) - Europe's debt crisis and an oil price rally are the biggest threats to global oil demand ...
Fri, March 09, 2012
GE sees slower revenue growth in Southeast Asia
By Yantoultra Ngui
KUALA LUMPUR (Reuters) - General Electric Co
Fri, March 09, 2012
China growth gliding lower, hard landing risks ease
By Koh Gui Qing and Zhou Xin
BEIJING (Reuters) - China's economy is on course for a soft landing, a clutch of indicators showed ...
Thu, March 08, 2012
Hilary Duff's Pregnancy Secrets: Hair growth?
While mommy-to-be Jessica Simpson decided to pose nude on the cover of Elle magazine, fellow pregnant star Hilary Duff is finding ways to bare ...
Thu, March 08, 2012
Greek debt swap could be short-lived reprieve
By Ingrid Melander
ATHENS (Reuters) - Greece's deep recession and unpredictable elections threaten to turn the biggest debt restructuring in history into yet another ...
Wed, March 07, 2012
Starbucks tries local touch to lift growth in Europe
By Tjibbe Hoekstra
AMSTERDAM (Reuters) - Starbucks Corp
Wed, March 07, 2012
GE sees resource-rich LatAm, Mideast key to growth
By Jeb Blount
RIO DE JANEIRO (Reuters) - General Electric Co
Tue, March 06, 2012
Economists more upbeat on Irish Q4 growth
By Conor Humphries
DUBLIN (Reuters) - Economists are increasingly confident that Ireland will avoid falling back into recession when quarterly growth figures are released later ...
Sun, March 04, 2012
China sets 2012 growth target at 7.5 percent, stability key
By Zhou Xin and Kevin Yao
BEIJING (Reuters) - China aims to grow its economy by 7.5 percent in 2012 by following procative fiscal ...
Sun, March 04, 2012
Glencore sticks to its guns on Xstrata merger terms
By Clara Ferreira-Marques
LONDON (Reuters) - Commodities trader Glencore
Sun, March 04, 2012
China cuts growth target to 8-year low, to boost consumption
By Zhou Xin and Kevin Yao
BEIJING (Reuters) - Chinese Premier Wen Jiabao cut his nation's 2012 growth target to an eight-year low of ...
Fri, March 02, 2012
S&P: Italy must target growth, tackle debt: report
MILAN (Reuters) - Italy must lay the foundations for economic growth and get its debt under control to return to a sovereign 'A' rating, a ...
Fri, March 02, 2012
Fed's Williams: Higher oil affecting U.S. growth
HONOLULU, Hawaii (Reuters) - Higher oil prices are affecting U.S. growth but are currently not a reason to think the economy will stall, a ...
Thu, March 01, 2012
EU argues over balance between austerity, growth
By Paul Taylor and Luke Baker
BRUSSELS (Reuters) - European Union leaders argued on Thursday over the right balance between budget austerity and reviving lost ...
Wed, February 29, 2012
Indian economy slumps to weakest growth in 3 years
By Rajesh Kumar Singh and Manoj Kumar
NEW DELHI (Reuters) - India's economic growth slowed to 6.1 percent in the three months to ...
Mon, February 27, 2012
EBay sees strong mobile commerce volume growth in 2012
(Reuters) - EBay Inc forecast robust growth in its mobile commerce segment as the online commerce and auction site expects more people to shop and ...
Sun, February 26, 2012
HSBC counts cost of emerging market success
By Steve Slater and Sarah White
LONDON (Reuters) - HSBC Holdings Plc
Fri, February 24, 2012
Bankers urge G20 growth strategy, euro-zone risks remain
By Stella Dawson
(Reuters) - International bankers called on Group of 20 finance leaders on Friday to step up their efforts to promote economic growth ...
Wed, February 22, 2012
Garmin profits from higher PND prices
(Reuters) - Garmin Ltd's
Tue, February 21, 2012
Wall Street up on jobs data, brushes off Greek default
By Angela Moon
NEW YORK (Reuters) - Stocks advanced on Friday as investors brushed off the technical default by Greece and focused instead on another ...
Mon, February 20, 2012
Britain, Netherlands call for EU to focus on growth
By Robin Emmott
BRUSSELS (Reuters) - Britain, the Netherlands, Italy and nine other countries called on Monday for Europe to shift its focus from tough ...
Fri, February 17, 2012
White House sees job growth accelerating in 2012
By Alister Bull
WASHINGTON (Reuters) - U.S. job creation will pick up this year as a moderate economic recovery continues, the White House said ...
Thu, February 16, 2012
Discovery profit beats Street, outlook falls short
By Yinka Adegoke
(Reuters) - Discovery Communications
Thu, February 16, 2012
Nestle cautious on 2012 as it seeks new growth
By Emma Thomasson
VEVEY, Switzerland (Reuters) - Nestle
Wed, February 15, 2012
GE's Rice sees China growth slowing in 2012
By Scott Malone
WASHINGTON (Reuters) - General Electric Co
Wed, February 15, 2012
Nvidia warns of chip supplies and loss of Samsung
By Noel Randewich
SAN FRANCISCO (Reuters) - Nvidia Corp warned that delays in ramping up new manufacturing technology are affecting sales of its PC graphics ...
Wed, February 15, 2012
February NY Fed manufacturing growth highest in 1-1/2 years
NEW YORK (Reuters) - A gauge of manufacturing in New York State picked up in February to its highest level in more than 1-1/2 ...
Wed, February 15, 2012
Apple iPhone market share to slip from Q1: Gartner
(Reuters) - Apple, which became the world's largest smartphone vendor in the fourth quarter, will see its iPhone market share slipping for a couple ...
Tue, February 14, 2012
Zynga warning on player spending hits shares
(Reuters) - Zynga Inc's shares fell 16 percent on Wednesday, amid heavy volumes, after the social gaming company warned of a slowdown in bookings ...
Tue, February 14, 2012
Obama plan would end dozens of business tax breaks
By Kim Dixon and Rachelle Younglai
WASHINGTON (Reuters) - The Obama administration's corporate tax reform plan would end "dozens and dozens" of tax breaks ...
Mon, February 13, 2012
Obama proposes defense cut after decade of growth
By David Alexander and Jim Wolf
WASHINGTON (Reuters) - The 2013 U.S. defense budget that President Barack Obama sent to Congress on Monday includes ...
Sat, February 11, 2012
Obama proposes defense cut after decade of growth
By David Alexander and Jim Wolf
WASHINGTON (Reuters) - President Barack Obama unveiled a 2013 defense budget on Monday that proposes cuts in Pentagon spending ...
Fri, February 10, 2012
NYSE Euronext eyes new sectors for growth
By Luke Jeffs and Kylie MacLellan
LONDON (Reuters) - NYSE Euronext
Fri, February 10, 2012
Shares and dollar firmer; oil rebounds
By Natsuko Waki
LONDON (Reuters) - European stocks hit their highest level since July on Friday, keeping the benchmark global equity index near a 7-1 ...
Thu, February 09, 2012
LinkedIn upbeat for 2012 on members, product growth
By Nicola Leske
(Reuters) - Professional networking service LinkedIn's outlook for the current quarter and the full year surpassed expectations as the company banks ...
Wed, February 08, 2012
Groupon disclosure, growth concerns hit stock
By Alistair Barr and Gerry Shih
(Reuters) - Groupon Inc shares slumped Wednesday as the daily deal company's first quarterly results since it went ...
Wed, February 08, 2012
Kaspersky Lab's sales growth slowed in 2011
CANCUN, Mexico (Reuters) - Russia's Kaspersky Lab reported that sales growth slowed substantially last year as the world's No. 4 maker of anti-virus ...
Wed, February 08, 2012
World beer market 2011 growth picks up to 2.7 percent: report
LONDON (Reuters) - Growth in the world beer market picked up to reach 2.7 percent in 2011 as growth continued to strengthen driven by ...
Wed, February 08, 2012
French economy to post zero growth in Q1: central bank
PARIS (Reuters) - France's economy will register zero growth in the first quarter of this year, the Bank of France forecast on Wednesday, as ...
Mon, February 06, 2012
No way China can sustain its growth: Biden
WASHINGTON (Reuters) - Vice President Joe Biden warned on Monday that there is no way that China will be able to sustain its current level ...
Mon, February 06, 2012
China growth could halve if Europe crisis worsens: IMF
BEIJING (Reuters) - China's annual economic growth could be cut nearly in half this year if Europe's debt crisis tips the world economy ...
Fri, February 03, 2012
January service sector growth highest in nearly a year: ISM
NEW YORK (Reuters) - The pace of growth in the U.S. services sector accelerated in January to its highest level in nearly a year ...
Fri, February 03, 2012
Euro zone sales tumble at Christmas, no sign of growth
By Robin Emmott
BRUSSELS (Reuters) - Retail sales in the euro zone tumbled unexpectedly in December, the biggest drop in the Christmas period in three ...
Thu, February 02, 2012
Worst yet to come for China growth: economist
By Kevin Yao and Shen Yan
BEIJING (Reuters) - Facing stiff global headwinds and a downturn in its property sector, China should cut taxes and ...
Thu, February 02, 2012
Euro, shares gain on Greek deal hopes
By Richard Hubbard
LONDON (Reuters) - European stock markets and the euro extended two months of gains on Thursday as Greece edged closer to a ...
Thu, February 02, 2012
Shell eyes big growth, but at big cost
By Tom Bergin
LONDON (Reuters) - Royal Dutch Shell
Thu, February 02, 2012
AstraZeneca axes 7,300 jobs, warns on profit
By Ben Hirschler
LONDON (Reuters) - AstraZeneca is cutting a further 7,300 jobs and expects earnings to fall 14-18 percent this year as patents ...
Wed, February 01, 2012
Hynix expects weaker chip shipment growth in Q1
SEOUL (Reuters) - Hynix Semiconductor Inc sees mid-single digit percentage growth for shipments of dynamic random access memory (DRAM) and flash memory chips in the ...
Tue, January 31, 2012
Data shows Canada set for subpar growth in fourth quarter
By Louise Egan
OTTAWA (Reuters) - Canada's economy unexpectedly shrank in November for the first time since May, setting the stage for lackluster fourth-quarter ...
Tue, January 31, 2012
Euro jobs crisis puts Germany at core of growth debate
By John Stonestreet
LONDON (Reuters) - The euro zone creaked under the weight of record unemployment at the end of 2011 while jobless rates in ...
Tue, January 31, 2012
UPS profit tops Street view, sees 2012 growth
By Lynn Adler
(Reuters) - United Parcel Service
Tue, January 31, 2012
Logitech's new Lifesize CEO targets growth pickup
By Tarmo Virki, European Technology Correspondent
(Reuters) - Logitech's video conferencing unit LifeSize expects new products and a bigger sales team to boost revenue ...
Mon, January 30, 2012
Canon earnings outlook falters, president steps down
By Isabel Reynolds
TOKYO (Reuters) - Canon Inc's 76-year-old chairman and CEO will take on the additional role of president after the $60 billion ...
Mon, January 30, 2012
Philips swings to loss as Europe's economy falters
By Roberta Cowan
AMSTERDAM (Reuters) - Philips swung to a fourth-quarter net loss as government cuts ate into its healthcare equipment business and a slowdown ...
Mon, January 30, 2012
Snap analysis: U.S. job creation accelerates broadly
By Jason Lange
WASHINGTON (Reuters) - U.S. job creation is accelerating throughout the economy, giving President Barack Obama's reelection bid a boost and ...
Sun, January 29, 2012
Europe signs up to German-led fiscal pact
By Julien Toyer and Paul Taylor
BRUSSELS (Reuters) - Chancellor Angela Merkel cemented her political ascendancy in Europe Monday when 25 out of 27 EU ...
Sun, January 29, 2012
Sarkozy details measures for growth, jobs
By Catherine Bremer and Alexandria Sage
PARIS (Reuters) - President Nicolas Sarkozy used a primetime television interview on Sunday to flesh out a flurry of ...
Fri, January 27, 2012
Instant view: U.S. growth quickens in Q4, but speed-bumps ahead
NEW YORK (Reuters) - The U.S. economy grew at its fastest pace in 1-1/2 years in the fourth quarter, but a strong rebuilding ...
Fri, January 27, 2012
Shares firmer, euro steady ahead of factory data
By Richard Hubbard
LONDON (Reuters) - Stocks rose and the euro steadied on Wednesday as investors remained on guard ahead of the release of manufacturing ...
Thu, January 26, 2012
Europe searches for mythical "jobs and growth" formula
By Luke Baker
BRUSSELS (Reuters) - Since the start of the year, one phrase has tripped off the lips of European leaders more than any ...
Wed, January 25, 2012
Netflix wins over Wall Street with subscriber growth
(Reuters) - Netflix Inc won back Wall Street's affections on Thursday after adding more U.S. subscribers than expected in the fourth quarter, a ...
Wed, January 25, 2012
Xerox sees 2012 EPS growth after solid 4th quarter
By Nicola Leske
(Reuters) - Xerox Corp
Tue, January 24, 2012
Europe poses global recession threat: IMF
By Lesley Wroughton
WASHINGTON (Reuters) - Europe's debt crisis could tip the world economy into recession and a bigger firewall is urgently needed to ...
Mon, January 23, 2012
Companies see growth but few new jobs: poll
WASHINGTON (Reuters) - Few U.S. companies plan to step up hiring in the next six months although they do expect the economy to be ...
Sun, January 22, 2012
Lost decade of growth for the West
By Stella Dawson
(Reuters) - Five years after the credit crisis began, Western economies are confronting the prospect of a lost decade of growth, and ...
Thu, January 19, 2012
IBM, other tech results point to robust IT demand
By Sinead Carew
NEW YORK (Reuters) - A strong outlook from IBM and decent results from Intel Corp and Microsoft Corp suggest that corporate decision ...
Wed, January 18, 2012
Roche melanoma pill spurs growth of other cancers
By Julie Steenhuysen
CHICAGO (Reuters) - A new study helps explain why up to a third of advanced melanoma patients who take Roche Holding's ...
Wed, January 18, 2012
Monti, Cameron want EU to push for growth
By Keith Weir and Sven Egenter
LONDON (Reuters) - Italy and Britain called on the European Union on Wednesday to promote steps to boost economic ...
Tue, January 17, 2012
IBM seen posting Q4 growth, headwinds expected in 2012
(Reuters) - IBM Corp is expected to report solid fourth quarter results on January 19 under new chief executive Virginia Rometty as investors look for ...
Tue, January 17, 2012
New York manufacturing growth accelerates in January
NEW YORK (Reuters) - A gauge of manufacturing in New York State showed growth picked up in January, rising to the highest level in nine ...
Tue, January 17, 2012
Instant view: NY manufacturing growth accelerates in January
NEW YORK (Reuters) - A gauge of manufacturing in New York State showed growth picked up in January, rising to the highest level in nine ...
Tue, January 17, 2012
Wells Fargo profit jumps on loan growth
By Rick Rothacker
(Reuters) - Wells Fargo & Co on Tuesday beat Wall Street estimates with a 20 percent increase in fourth-quarter profit, boosted by continued loan growth and improving credit quality.
The improvement at the fourth-largest U.S. bank contrasted with an 11 percent decline in profit at Citigroup Inc, which saw its capital markets business battered by the European debt crisis.
"Wells Fargo has a better business model for the environment we're in now because commercial lending is their biggest sector," said Jeffrey Sica, president of SICA Wealth Management in Morristown, New Jersey, which is generally negative on the banking sector.
"They're not overly involved in the trading activities that the other banks are involved in."
The San Francisco-based bank said it earned 73 cents per share. The average estimate from analysts was 72 cents per share, according to Thomson Reuters I/B/E/S.
Reflecting a trend demonstrated on Friday by results at JPMorgan Chase & Co, Wells Fargo's total loans grew about $9.5 billion from the end of September to $769.6 billion at the end of December.
The bank said planned run-off of discontinued loans was more than offset by growth in a broad range of loan types, especially commercial loans. "Core" loans increased by about 2 percent from the previous quarter, although analysts noted the growth included U.S. commercial real estate loans purchased from struggling European banks.
"In addition to the organic growth, we saw an opportunity from the acquisition standpoint," said Chief Financial Officer Tim Sloan in an interview. "Not everybody in the industry has the capacity (to do that)."
One area where Sloan said the bank wasn't seeing much growth was utilization of existing credit lines, typically an event that occurs as the economy rebounds. The economy is "definitely improving" but not "as fast as everyone would like," he said.
Net income applicable to common shareholders in the fourth quarter was $3.89 billion, compared with $3.23 billion, or 61 cents per share, a year earlier. For all of 2011, Wells posted net income applicable to common shareholders of about $15 billion, up from $11.6 billion in 2010.
The report came the same day that Citigroup Inc posted net income of $1.16 billion, or 38 cents per share, down from $1.31 billion, or 43 cents per share, a year earlier. JPMorgan on Friday reported fourth-quarter net income of $3.72 billion, or 90 cents a share, down from $4.83 billion, or $1.12 a share, a year earlier.
Wells Fargo shares climbed 1.5 percent to $30.06 in afternoon trading, while Citigroup's fell 6.7 percent to $28.67.
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
For a graphic on Citigroup vs. Wells Fargo results: http://link.reuters.com/kyw95s
For a graphic on largest U.S. brokerage firms: http://link.reuters.com/bun95s
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Wells Fargo, which became a coast-to-coast bank with its 2008 purchase of Wachovia, also benefited from improving credit quality in the quarter. For the seventh straight quarter the bank reversed reserves the bank had previously booked for bad loans.
The so-called reserve release in the fourth quarter was about $600 million, down from $800 million in the third quarter. The bank expects that to continue in 2012 absent "significant credit deterioration in the economy."
Still, big banks are struggling to pad revenues at a time when low interest rates make it difficult to earn money from loans and as new regulations curb fees they can charge for debit card use.
Wells reported total revenue of $20.6 billion, down from $21.5 billion a year ago but up from $19.6 billion in the third quarter. The bank said debit card interchange fees were down by $365 million, although that dip was partially offset by growth in credit card fees.
Mortgage banking income increased to $2.4 billion in the fourth quarter, up from $1.8 billion in the third, but down from $2.8 billion a year ago, as the bank benefited from an increase in home loan refinancings. Wells is the largest originator of home loans in the U.S.
The bank also posted a $430 million gain from trading activities, an improvement from a $442 million loss in the third quarter but down about $100 million from a year ago.
Sloan said capital markets were more robust in the fourth quarter than in a volatile third quarter but may never return to the levels seen in the first half of 2008.
"That's OK from our perspective," he said. "This is a portion of our business. It's not the primary driver for the business, which is the challenge for others because we have a more diversified model."
The bank said its U.S. investment banking market share increased to 5.1 percent in 2011 from 4.2 percent in 2010, citing Dealogic fee-based tables.
EXPENSE PLAN ON TRACK
In a bid to improve overall profits, Wells Fargo, like other banks, has launched a wide-ranging efficiency program called Project Compass.
Wells said fourth-quarter noninterest expense was up from the third-quarter as expected on higher seasonal expenses and mortgage-related costs. But the bank reiterated its goal of reducing quarterly expenses to about $11 billion by the end of this year, a reduction of about $1.5 billion.
The bank's total employment of 264,200 was down about 8,000 from a year ago but up slightly from the third quarter. Sloan said the bank eliminated employees involved in the Wachovia merger integration last year but added employees in the mortgage business to meet rising demand in the past two quarters.
Marty Mosby, bank analyst with Guggenheim Partners, said Wells Fargo showed continued progress in the quarter but was disappointing on expenses. "We were looking for greater efficiency," he said.
Like other big banks, Wells submitted a capital plan this month to the Federal Reserve as part of stress tests designed to determine if banks have enough capital in case of a severe economic downturn.
Sloan did not provide specifics on Wells Fargo's plan, but said he expects the Fed will not object to the bank's submission, allowing it to increase its dividend and buy back more of its stock. The Fed's response is expected in mid-March.
During the fourth quarter, Wells said it purchased 27 million shares of its common stock. It also agreed to buy another 6 million shares in a transaction that will settle in the first quarter of this year.
As European banks work to meet their own capital requirements, some are looking to sell off loan portfolios and business units. Wells reportedly was one of the banks interested in buying the Royal Bank of Scotland Group Plc aircraft leasing unit acquired Tuesday by Sumitomo Mitsui Financial Group.
In a conference call with analysts, Wells Fargo Chief Executive Officer John Stumpf said the bank is "kicking a lot of tires" but will be "cautious" about doing any deals.
"It would have to make a lot of sense for us," he said, "and if all we get out of this is sore toes, that is fine."
(Reporting By Rick Rothacker in Charlotte, North Carolina; Additional reporting by Lauren Tara LaCapra and Jed Horowitz in New York; editing by Dave Zimmerman)
Tue, January 17, 2012
Burberry hit by slower U.S. sales growth
By Mark Potter
LONDON (Reuters) - British luxury brand Burberry Group Plc
Mon, January 16, 2012
China policy easing ahead as growth hits 2-year low
By Langi Chiang and Koh Gui Qing
BEIJING (Reuters) - China's economy expanded at its weakest pace in 2-1/2 years in the latest ...
Mon, January 16, 2012
Retailers in for steady, modest growth in 2012
By Phil Wahba and Brad Dorfman
NEW YORK/CHICAGO (Reuters) - Hopefully, retailers liked 2011, because 2012 is looking like it will offer more of ...
Sat, January 14, 2012
Sarkozy to bet on growth reforms as AAA slips away
By James Regan
PARIS (Reuters) - The loss of France's much-prized triple-A credit rating three months from elections that will likely hinge on the ...
Fri, January 13, 2012
Analysis: Spain should temper austerity, look to growth
By Nigel Davies
MADRID (Reuters) - Meeting Spain's draconian austerity targets would cost every worker more than 2,000 euros this year, and even ...
Tue, January 10, 2012
Wall Street banks curb economic growth forecasts
WASHINGTON (Reuters) - Wall Street banks lowered their outlook for U.S. economic growth due to concerns over the European debt crisis, oil prices, regulatory ...
Tue, January 10, 2012
Swatch sees more growth after record sales in 2011
By Caroline Copley
ZURICH (Reuters) - Swatch Group
Mon, January 09, 2012
China trade growth slows to 2-year lows in December
By Koh Gui Qing
BEIJING (Reuters) - China's exports and imports grew at their slowest pace in more than two years in December as ...
Mon, January 09, 2012
Healthcare results reflect slow growth environment
(Reuters) - Medical technology makers CareFusion Corp and St Jude Medical Inc on Monday pre-announced quarterly results that showed a sector still struggling with slow ...
Mon, January 09, 2012
BMW aims for top spot in 2012 as luxury sales soar
By Christoph Steitz and Jonathan Gould
FRANKFURT (Reuters) - BMW posted record car sales for 2011 and forecast that a boom in luxury cars would ...
Mon, January 09, 2012
Record French savings hit growth, boost banks
By Leigh Thomas
PARIS (Reuters) - French savers are squirreling away their spare cash at the fastest rate in nearly 30 years, putting a drag ...
Sun, January 08, 2012
China loan growth quickens
By Kevin Yao and Judy Hua
BEIJING (Reuters) - China's banks ratcheted up lending in the last month of 2011 on the back of ...
Fri, January 06, 2012
Merkel, Sarkozy press for quick Greek solution
By Stephen Brown and Noah Barkin
BERLIN (Reuters) - Germany and France warned Greece on Monday it will get no more bailout funds until it ...
Thu, January 05, 2012
Credit Suisse sees sluggish growth in 2012 handset sales
(Reuters) - Global mobile phone shipments is likely to grow at a much slower pace of 2 percent this year as customers hold back on ...
Wed, January 04, 2012
Automakers see slower U.S. sales growth in 2012
By Ben Klayman and Bernie Woodall
DETROIT (Reuters) - U.S. auto sales rose 10 percent in 2011 but major automakers forecast a slowdown in ...
Tue, January 03, 2012
BMW sees 2012 premium market growth above 8 percent
FRANKFURT (Reuters) - BMW
Mon, January 02, 2012
European shares end higher in thin holiday trade
PARIS (Reuters) - European stocks ended higher in their first trading session of the year on Monday, led by defensive utilities such as E.ON ...
Sun, January 01, 2012
Hyundai Heavy targets 20 percent order growth to $31 billion
SEOUL (Reuters) - South Korea's Hyundai Heavy Industries <009540.KS>, the world's biggest shipbuilder, said on Monday order growth was expected to more than halve ...
Sun, January 01, 2012
Hyundai, Kia see slower sales growth in 2012
SEOUL (Reuters) - Hyundai Motor <005380.KS> and affiliate Kia Motors <000270.KS> aim to boost global vehicle sales by 6 percent this year to a combined 7 million ...
Fri, December 30, 2011
China's factories falter, pro-growth policies eyed
By Kevin Yao
BEIJING (Reuters) - China's factory activity shrank again December as demand at home and abroad slackened, a purchasing managers' survey showed ...
Thu, December 29, 2011
Amazon shares dip on growth concerns
(Reuters) - Amazon.com Inc shares fell to their lowest level since late March on Thursday on concern about sales growth during the online retailer ...
Tue, December 27, 2011
Holland-Grand Haven Job Growth Surging
A new national survey ranks the Holland/Grand Haven area as the second fastest-growing job market in the country. The Milken Institute surveyed the ...
Mon, December 26, 2011
China expects 11 percent industrial output growth in 2012
BEIJING (Reuters) - China's industrial output is expected to grow 11 percent for 2012, easing from an estimated 13.9 percent in 2011, China ...
Fri, December 23, 2011
Import prices rise in February on higher oil
By Lucia Mutikani
WASHINGTON (Reuters) - Import prices rose in February on sharply higher oil costs, but there were few other signs of imported inflation ...
Thu, December 22, 2011
Wall Street job, bonus cuts to hurt growth: report
(Reuters) - As Wall Street traders cheered positive jobs data on Thursday, they seemed to ignore layoffs and bonus cuts on their own trading floors ...
Mon, December 19, 2011
Caterpillar sees steady growth
(Reuters) - Caterpillar Inc
Sun, December 18, 2011
China to keep "appropriate" investment growth in 2012-planner
BEIJING (Reuters) - China will keep "appropriate" investment growth in 2012 to help underpin the economy amid the global downturn, the country's top economic ...
Tue, December 13, 2011
China makes growth guarantee against grim global economy
By Koh Gui Qing and Zhou Xin
BEIJING (Reuters) - China pledged to guarantee growth in the face of an "extremely grim" outlook for the ...
Tue, December 13, 2011
Analysis: Growth to bear brunt of euro crisis cure
By Alan Wheatley, Global Economics Correspondent
LONDON (Reuters) - Europe's economic prospects next year are so bleak that 2011, for all the euro's ...
Tue, December 13, 2011
Retail sales growth weak in November
By Jason Lange
WASHINGTON (Reuters) - Retail sales grew at their slowest pace in five months in November, tempering expectations for a strong holiday shopping ...
Mon, December 12, 2011
Fed stimulus pledge buoys stocks, Greece talks eyed
By Richard Hubbard
LONDON (Reuters) - The euro held firm against the dollar, while European shares and gold moved higher on Thursday, after the U ...
Sun, December 11, 2011
General Dynamics CEO sets sights on further growth, acquisitions
By Andrea Shalal-Esa
WASHINGTON (Reuters) - The defense budget is shrinking, but General Dynamics Corp
Fri, December 09, 2011
China export and import growth slows, surplus narrows
By Langi Chiang and Nick Edwards
BEIJING (Reuters) - Growth in Chinese exports and imports slowed in November, further evidence of the faltering demand abroad ...
Fri, December 09, 2011
DuPont expects 2012 profit to beat Street
By Ernest Scheyder
WILMINGTON, Delaware (Reuters) - DuPont
Fri, December 09, 2011
China data signals pro-growth policy shift
By Aileen Wang and Nick Edwards
BEIJING (Reuters) - China's industrial output growth dropped in November to its slowest pace in more than two ...
Fri, December 09, 2011
Transparency key to EU debt, China growth: Paulson
By Nick Edwards
BEIJING (Reuters) - Improved transparency is Europe's quickest route to debt resolution and China's best defense against external economic shocks ...
Wed, December 07, 2011
Analysis: Wanted: Private equity high-flyers in growth areas
By Greg Roumeliotis, Simon Meads and Stephen Aldred
NEW YORK/LONDON/HONG KONG (Reuters) - Private equity firms, facing shrinking asset values and tough financing ...
Wed, December 07, 2011
China growth to ease as export outlook darkens
By Aileen Wang and Michael Martina
BEIJING (Reuters) - China's annual rate of export growth slowed in November versus October, Vice Commerce Minister Chong ...
Tue, December 06, 2011
High oil prices may threaten growth: BP
DOHA (Reuters) - The fragile economic recovery could be negatively affected by high oil prices, especially in the United States, BP's
Mon, December 05, 2011
Service sector growth slowest since Jan 2010: ISM
NEW YORK (Reuters) - The pace of growth in the vast U.S. services sector slowed in November to the lowest level in nearly two ...
Mon, December 05, 2011
Instant view: Service sector growth slows in November
NEW YORK (Reuters) - The pace of growth in the vast U.S. services sector slowed in November to the slowest since January 2010, according ...
Mon, December 05, 2011
MetLife sees 2012 growth, going back to Fed soon
By Ben Berkowitz
(Reuters) - MetLife expects operating earnings to rise as much as 7 percent in 2012, the largest life insurer in the United ...
Fri, December 02, 2011
Facebook to hire thousands, sees fast growth
By Jim Finkle and Ilaina Jonas
NEW YORK (Reuters) - Facebook, the social networking giant that is preparing to go public, said it plans to ...
Wed, November 30, 2011
Fed says growth moderate, hiring still subdued
WASHINGTON (Reuters) - The Federal Reserve said on Wednesday the U.S. economy grew moderately in recent weeks but said hiring remained anemic and housing ...
Tue, November 29, 2011
UK growth slows to crawl, austerity to persist
By Fiona Shaikh and David Milliken
LONDON (Reuters) - Britain's coalition government unveiled sharply lower economic growth forecasts on Tuesday and said it would ...
Tue, November 29, 2011
Tiffany sales growth shows signs of slowing
By Phil Wahba
(Reuters) - Concerns about slowing sales momentum took some of the luster off Tiffany & Co's
The upscale jeweler, a stock market darling for how fast its international business has grown, reported third-quarter earnings that beat analysts' estimates but gave a holiday-quarter profit and sales outlook that missed Wall Street expectations.
Chief Executive Michael Kowalski said in a statement there had been "recent sales weaknesses in Europe and in the eastern part of the U.S."
And the company said there is reason to be cautious.
Chief Financial Officer Pat McGuiness told analysts on a conference call that Tiffany is "cognizant of the challenging economic conditions and uncertainties in a number of markets."
Globally, Tiffany's sales in the third quarter were up 17 percent in the third quarter, excluding the impact of currency translation.
But that is below the 19 percent pace of the first three quarters combined. The slowdown was limited to the Americas and Europe, which together make up nearly 60 percent of Tiffany's business. In Japan, its second biggest market, and elsewhere in Asia, the pace picked up.
(For a graph showing U.S. jewelry spending and stock market volatility, please see: http://link.reuters.com/zuq35s)
Tiffany's shares traded late Monday at a forward earnings-price ratio of 23.31, above the 16.95 for the retail sector as a whole, according to Thomson Reuters.
That set up Tiffany's shares for a fall at any sign of trouble, said Morningstar analyst Paul Swinand, calling them "richly" valued.
Another concern is that gross margin, a measure of profitability on jewelry sold, slipped, Swinand said.
Tiffany's gross margin edged down 0.6 point to 57.9 percent in the third quarter, largely because it sold more pricey jewelry, which the company said has lower margins. The markup of very-high-end jewelry is typically lower, analysts said.
CLOUD ON LUXURY'S HORIZON
The mentions of trouble in Europe and the United States are the latest sign that months of stock market volatility and fears about global economic growth might finally be taking a toll on luxury consumers' confidence.
In October, Saks Inc
Tiffany shares were down 9.03 percent to $66.98 and brought down other luxury chain's shares. Saks was down 3.6 percent, Coach Inc
Still, Saks, Neiman Marcus Group Inc
Tiffany expects sales to rise at a low-teens percentage rate for the holiday quarter. In the third quarter, sales at stores open at least a year, excluding the effect of currency translations, rose 16 percent.
Tiffany said it expects fourth quarter earnings per share of $1.48 to $1.58, below the $1.63 Wall Street analysts were expecting, according to Thomson Reuters I/B/E/S.
Tiffany reported net income of $89.7 million, or 70 cents per share, for the third quarter ended October 31, up from $55.1 million, or 43 cents per share, a year earlier and above the 61 cents a share that analysts were expecting, according to Thomson Reuters I/B/E/S.
(Reporting by Phil Wahba; Editing by Lisa Von Ahn, Dave Zimmerman)
Tue, November 29, 2011
UK's Osborne to admit growth, debt-cutting falling
By Fiona Shaikh and David Milliken
LONDON (Reuters) - British finance minister George Osborne will pave the way for several more years of deep government ...
Mon, November 28, 2011
U.S., EU consider trade talks to foster growth
By Doug Palmer
WASHINGTON (Reuters) - The United States and the European Union took a step on Monday toward launching bilateral trade talks to help ...
Sat, November 26, 2011
Black Friday online sales growth lags last year
By Alistair Barr
(Reuters) - Amazon.com Inc, eBay Inc and other e-commerce companies had a strong "Black Friday," but the industry's growth rate ...
Fri, November 25, 2011
Dow and S&P 500 post best week since Christmas
By Caroline Valetkevitch
NEW YORK (Reuters) - Stocks posted their best week since Christmas, even with a mixed finish on Friday after strong earnings from ...
Thu, November 24, 2011
Alibaba.com posts slowest quarterly growth in almost 2 years
By Melanie Lee
SHANGHAI (Reuters) - Alibaba.com, China's largest e-commerce firm, posted an 11.9 percent rise in quarterly net profit, its slowest ...
Thu, November 24, 2011
China sees factory growth slowing slightly in 2012
BEIJING (Reuters) - Growth in China's factory output is likely to fall slightly to 12-13 percent in 2012 due to weakening global demand, the ...
Wed, November 23, 2011
HTC to tough out slowdown as strategy doubts grow
By Jonathan Standing and Clare Jim
TAIPEI (Reuters) - HTC's promise of "competitive" new models early next year may not be enough of a ...
Tue, November 22, 2011
Consumer sentiment up, trade gap narrows
By Richard Leong
NEW YORK (Reuters) - An index of consumer sentiment rose to its highest in six months in early December and the trade ...
Mon, November 21, 2011
Acer eyes 20-25 percent China sales growth in
By Melanie Lee and Clare Jim
SHANGHAI/TAIPEI (Reuters) - Taiwan's Acer Inc, the world's No.4 PC vendor by sales, expects its ...
Mon, November 21, 2011
Whitman's top job: restore HP credibility, jumpstart growth
By Poornima Gupta
SAN FRANCISCO (Reuters) - Hewlett Packard's new Chief Executive, Meg Whitman, passed her first test with investors, calming nerves and assuring ...
Mon, November 21, 2011
Fed's Lockhart: prefer language change to bond buys
By Luciana Lopez
SAO PAULO (Reuters) - A top Federal Reserve official said on Monday that given recent improvements in the U.S. economy, any ...
Mon, November 21, 2011
China automakers see slower growth ahead
By Alison Leung and Fang Yan
GUANGZHOU, China (Reuters) - Car sales growth in China will remain stagnant next year in the absence of incentives ...
Mon, November 21, 2011
World stocks up as crucial euro zone week kicks off
By Richard Hubbard
LONDON (Reuters) - World stocks rose and demand for German government bonds slipped on Monday as confidence grew European leaders would make ...
Thu, November 17, 2011
Diageo expects growth to remain constant despite economy
By Martinne Geller
NEW YORK (Reuters) - Diageo PLC
Thu, November 17, 2011
Third-quarter growth revised down to 2.0 percent
WASHINGTON (Reuters) - The U.S. economy grew at a slightly slower pace than previously estimated in the third quarter, but weak inventory accumulation amid ...
Wed, November 16, 2011
Qualcomm keeps long-term growth target
(Reuters) - Qualcomm Inc on Wednesday affirmed its long-term growth target of at least 10 percent for annual revenue and earnings per share, citing strong ...
Tue, November 15, 2011
NY Fed manufacturing growth index rises in November
NEW YORK (Reuters) - A gauge of manufacturing in New York state rose in November, ending five straight months of contraction, while the outlook for ...
Tue, November 15, 2011
Cellphone market growth dives in third quarter: Gartner
By Tarmo Virki, European Technology Correspondent
(Reuters) - Cellphone market growth slumped in the third quarter, with the grim economic climate prompting consumers to cut ...
Tue, November 15, 2011
Euro zone posts growth, but downturn seen likely
By Robin Emmott
BRUSSELS (Reuters) - The 17-nation euro zone economy grew a modest 0.2 percent in the third quarter from the second, the ...
Tue, November 15, 2011
Euro zone barely grows in Q3, recession looms
By Brian Rohan and Daniel Flynn
BERLIN/PARIS (Reuters) - The euro zone economy grew just 0.2 percent in the third quarter as solid ...
Mon, November 14, 2011
Wall Street falls for sixth day
By Angela Moon
NEW YORK (Reuters) - Stocks suffered a sixth straight day of losses on Wednesday as frustration over the euro zone's debt ...
Wed, November 02, 2011
U.S. tries "hip hop" diplomacy in Pakistan
By Chris Allbritton
ISLAMABAD (Reuters) - Considered by many Pakistanis to be public enemy number one, the United States on Monday turned to the musical ...
Fri, October 14, 2011
Rating cut puts Spain back on crisis radar
MADRID (Reuters) - Standard & Poor's cut Spain's credit rating Friday, sending the euro briefly lower and underlining the challenges facing Europe's major powers as they meet G20 counterparts over the euro-zone debt crisis.
S&P, whose move mirrored that by fellow ratings agency Fitch last week, cited high unemployment, tightening credit and high private-sector debt among reasons for cutting the nation's long-term rating to AA- from AA.
Spanish 10-year government bond yields rose slightly in response, although they remained almost 60 basis points lower than those of Italy and, at 5.27 percent, some distance from the 7 percent level widely regarded as unsustainable.
"Despite signs of resilience in economic performance during 2011, we see heightened risks to Spain's growth prospects due to high unemployment, tighter financial conditions, the still high level of private sector debt, and the likely economic slowdown in Spain's main trading partners," S&P said.
It also noted the "incomplete state" of labor market reform and the likelihood of further asset deterioration for Spain's banks, and downgraded its forecast for Spanish economic growth in 2012 to about 1 percent, from the 1.5 percent it forecast in February.
High yields on Spanish government bonds point to concerns that it could be the next euro zone economy to require a Greece-style bailout, and despite an unpopular austerity program, doubts remain that Spain will meet its deficit target of 6 percent of GDP this year.
The Financial Times quoted a senior Spanish official as saying that meeting the 6 percent deficit target would be "difficult."
But Spain's Economy Minister Elena Salgado said later on Friday that there would be some margin for maneuver this year thanks about 2 billion euros raised by an auction of wireless frequencies and lower interest payments.
"Interest payments by the central government will be at least 2 billion euros below budget. So the combined effect of the spectrum auction and lower interest payments will mean we have a margin of 0.4 percent (of GDP)" Salgado said.
BETTER PIIGS
S&P announced the downgrade as finance ministers and central bank chiefs from the world's 20 biggest economies were due to meet later Friday in Paris amid pressure to find an urgent and convincing solution to the deepening debt crisis.
Spanish unemployment, at 21 percent, is the highest in the European Union, reflecting a stagnant economy, the collapse of a decade-long housing boom and cuts aimed at taming a public sector deficit that reached 11.1 percent of GDP in 2009.
The decision to shelve multi-billion-euro privatization plans, mainly due to tough market conditions, has meanwhile deprived the state of much needed revenues.
"The market's perception of Spain is that it's in a stronger position (than other debt-laden states) - with a strong defense on bank capitalization in place from the FROB bad bank fund, aggressive government action to control and cut spending and a 70 percent debt/GDP ratio," said Bill Blain, senior director at broker NewEdge Group.
"The biggest problem, but the issue I read least about, is the unresolved crisis between central government making cuts and the reticence of regions to follow," he said.
Salgado said the government will shortly announce its plans to ensure Spain's heavily-indebted regions meet their tough 2011 deficit targets.[nE8E7L700E]
JOB DILEMMA
A botched labor market reform in 2010 did little to alleviate joblessness that is concentrated mainly amongst younger Spaniards, and a new government after November 20 general elections will be under pressure to tackle the issue.
The center-right People's Party is expected to win the election easily and deepen austerity measures but they have shied away from presenting specific policy measures for fear of eroding public support.
Like Fitch, which also now rates Spain at AA-, S&P signaled further possible downgrades for Spain, saying there was still a risk the euro zone's fourth-largest economy could slip into recession next year, with a 0.5 percent contraction.
The euro reached a session low of $1.3723 after the downgrade, but later recovered on reports the European Central Bank was buying Spanish and Italian debt.
Hopes that G20 officials would agree on the outlines of a plan to resolve the debt crisis ahead of a European Union summit on October 23 also buoyed the shared currency, which remained on course for its biggest weekly rally since January.
Spain's blue chip index was little affected by the rating cut.
Finance chiefs from outside the euro zone are expected to speak frankly when they meet their European counterparts at Friday's G20 meeting, given impatience growing over the crisis and its implications for the rest of the world.
Thursday, Fitch cut credit ratings or signaled possible downgrades for several major European banks. It downgraded UBS and Royal Bank of Scotland. It also placed Barclays Bank, BNP Paribas, Credit Suisse, Deutsche Bank and Societe Generale on watch negative.
(Reporting by Balazs Koranyi, Mark Bendeich, Elisabeth O'Leary and Judy MacInnes; Editing by Catherine Evans and Patrick Graham)
Thu, October 13, 2011
ECB policymakers see growth risk, at odds on inflation
By Martin Santa and Terhi Kinnunen
BRATISLAVA/HELSINKI (Reuters) - The euro zone could fall back into recession and the European Central Bank will discuss ...
Wed, October 12, 2011
TSMC sees weak global economic growth over next year
TAIPEI (Reuters) - TSMC, the world's top contract chip maker, expects weak growth in the global economy over the next 12 months, its chairman ...
Wed, October 12, 2011
Eating solid foods early doesn't affect baby growth
By Linda Thrasybule
NEW YORK (Reuters Health) - Infants raised on formula who are introduced to solid foods before four months of age tend to ...
Wed, October 12, 2011
BoE's Dale warns UK growth to keep slowing
By David Milliken and Fiona Shaikh
LONDON (Reuters) - Britain's economy is likely to get steadily weaker through the rest of this year, and ...
Tue, October 11, 2011
Alcoa profit hurt by slowdown, recession fears
By Steve James
(Reuters) - Alcoa Inc
Tue, October 11, 2011
Analysis: Beauty industry sees growth at its fingertips
By Astrid Wendlandt
PARIS (Reuters) - Nail varnish has become the top-selling fashion accessory, replacing lipstick as an affordable indulgence in austere times and leading ...
Mon, October 10, 2011
China media liken U.S. yuan bill to Great Depression act
BEIJING (Reuters) - China's state-run news agency scorned on Tuesday U.S. legislation aiming to press it to raise the value of its yuan ...
Sat, October 08, 2011
Business jet industry looks to 2012 for growth
By Karen Jacobs
(Reuters) - The business jet industry is expecting 2012 to mark its first year of growth in deliveries since the financial downturn ...
Fri, October 07, 2011
Beam CEO sees independence fueling growth
By Martinne Geller
NEW YORK (Reuters) - Beam Inc
Fri, October 07, 2011
Instant view: Jobs growth better than expected in September
NEW YORK (Reuters) - Jobs growth was stronger than expected in September thanks to private-sector growth, easing fears the economy is slipping back into recession ...
Thu, October 06, 2011
CEOs say U.S. unlikely to slip back into recession
By Scott Malone
COLUMBUS, Ohio (Reuters) - Corporate America's chiefs do not expect the nation to slip back into recession, but say political gridlock ...
Mon, October 03, 2011
Synaptics new CEO hopes to bring the growth touch
By Himank Sharma
(Reuters) - Synaptics Inc expects to return to revenue growth as the maker of touchpads for PCs shifts focus to touchscreen chips ...
Sun, October 02, 2011
Special Report: A "great haircut" to kick-start growth
By Jennifer Ablan and Matthew Goldstein
NEW YORK (Reuters) - More than three years after the financial crisis struck, the economy remains stuck in a ...
Sat, October 01, 2011
Ford bets on Russia sales growth
By John Bowker
MOSCOW (Reuters) - U.S. carmaker Ford
Fri, September 30, 2011
Poor nations urged to tap Web fast for growth
By Duncan Miriri
NAIROBI (Reuters) - With online business increasingly driving economic growth, developing nations' top priority should be the infrastructure their citizens need to ...
Thu, September 29, 2011
Fed's Plosser: Twist will do little for growth
By Kristina Cooke
RADNOR, Pennsylvania (Reuters) - The Federal Reserve's move last week to further lower borrowing costs was risky and won't significantly ...
Wed, September 28, 2011
Samsung sees low growth rate for chip industry in 2012
TAIPEI (Reuters) - Samsung Electronics expects the semiconductor industry to grow at a low rate next year as the global economic slowdown cuts into demand ...
Sat, September 24, 2011
China must battle inflation, maintains growth-Zhou
By David Lawder and Frank Tang
WASHINGTON (Reuters) - China's economic outlook is positive, but it must keep battling inflation and be ready to ...
Fri, September 23, 2011
WTO cuts trade growth forecast, cites economic turmoil
By Robert Evans
GENEVA (Reuters) - The World Trade Organization, citing turmoil in the global economy, on Friday cut its forecast for the growth of ...
Wed, September 21, 2011
Zynga profit growth fizzles out in June quarter
By Liana B. Baker
(Reuters) - Zynga, the top maker of Facebook games, revealed a 90-percent plummet in profit in the June quarter on Wednesday ...
Wed, September 21, 2011
Heartland Payment sees growth in market share, margins
By Brenton Cordeiro
(Reuters) - Payment processor Heartland Payment Systems Inc
Wed, September 21, 2011
Obama says U.S., Japan must promote economic growth
NEW YORK (Reuters) - President Barack Obama said on Wednesday that Japan and the United States need to continue to promote economic growth.
Obama made ...
Tue, September 20, 2011
Analysis: China military growth to boost arms sales to Asia
By Rhys Jones
LONDON (Reuters) - China's military build-up is forcing its Asian neighbors to ramp up their defences, offering a new source of ...
Mon, September 19, 2011
Analysis: New drugs drive prostate cancer market
By Deena Beasley
LOS ANGELES (Reuters) - Options for treating prostate cancer are expanding with the advent of novel, and more expensive, medicines, with key ...
Mon, September 19, 2011
Beyond the gloom, reforms bode well for growth
By Alan Wheatley, Global Economics Correspondent
PARIS (Reuters) - Largely unnoticed by markets riveted by the drama of the day, more and more countries are ...
Mon, September 19, 2011
Airbus lifts demand forecasts on Asian growth
By Rhys Jones and Tim Hepher
LONDON/BARCELONA (Reuters) - Global airlines will buy $3.5 trillion of aircraft over the next 20 years to ...
Mon, September 19, 2011
Rough diamond demand growth to hit record
By Farah Master
HONG KONG (Reuters) - Diamond producer De Beers expects global demand growth for rough diamonds to set a new record this year ...
Fri, September 16, 2011
Europe and U.S. face 10 years of slow growth: UK's Brown
By Melanie Lee
DALIAN, China (Reuters) - Europe and the United States could face 10 years of slow growth and high unemployment if a global ...
Thu, September 15, 2011
UPS expects record profit, "slow-growth economy"
By Lynn Adler
LOUISVILLE, Kentucky (Reuters) - United Parcel Service Inc
Thu, September 15, 2011
Obama plan poor substitute for growth: Boehner
By Andy Sullivan
WASHINGTON (Reuters) - The top Republican in Congress on Thursday dismissed President Barack Obama's jobs-creation package as a "poor substitute" for ...
Thu, September 15, 2011
Boehner wants tax reform on super committee menu
WASHINGTON (Reuters) - The top Republican on Thursday will call on a special congressional committee to consider tax reform that would close loopholes but not ...
Tue, September 13, 2011
China's Wen vows to fight inflation, confident on growth
By Don Durfee and Lee Chyen Yee
DALIAN, China (Reuters) - China will keep monetary policy tight to contain inflation while forging ahead with structural ...
Tue, September 13, 2011
ADB trims Asia growth outlook, warns on inflation, flows
MANILA (Reuters) - The Asian Development Bank trimmed most of its 2011 and 2012 growth forecasts for the region while noting that Asia's emerging ...
Tue, September 13, 2011
Job gains ease recession fears but still weak
By Lucia Mutikani
WASHINGTON (Reuters) - Employers hired more workers than expected in September and job gains for the prior two months were revised higher ...
Tue, September 13, 2011
IEA cuts oil demand growth forecasts for 2011, 2012
By Christopher Johnson
LONDON (Reuters) - World oil consumption will increase more slowly than expected this year and next as the pace of global economic ...
Fri, September 09, 2011
Internap not for sale, bets on data center growth: CEO
By Rachana Khanzode
(Reuters) - Internap Network Services Corp, a provider of services that help improve Internet connectivity, is not up for sale at a ...
Fri, September 09, 2011
Exclusive: Evernote considers IPO as growth picks up
By Liana B. Baker
NEW YORK (Reuters) - Evernote, which makes a popular app for taking notes and storing data on tablets, phones and personal ...
Fri, September 09, 2011
China inflation, growth cool, heralding rate pause
By Kevin Yao and Zhou Xin
BEIJING (Reuters) - China's inflation pulled back in August from a three-year high while economic activity slowed, underlining ...
Thu, September 08, 2011
Analysis: Payroll tax cuts seen doable, but boost modest
By David Lawder
WASHINGTON (Reuters) - The one component of President Barack Obama's jobs plan most likely to win approval in Congress -- payroll tax ...
Thu, September 08, 2011
Marseille lays bare G7 differences and lack of policy room
By Daniel Flynn and Annika Breidthardt
MARSEILLE (Reuters) - Vague pledges and a lack of action by G7 countries underscored differences between Europe and the ...
Thu, September 08, 2011
Instant View: Fed's Bernanke seeks to restore robust growth
NEW YORK (Reuters) - Federal Reserve Chairman Ben Bernanke on Thursday said the central bank would spare no effort to boost disappointingly weak growth and ...
Thu, September 08, 2011
Geithner urges global action to boost growth
WASHINGTON (Reuters) - Treasury Secretary Timothy Geithner on Thursday called on global finance chiefs to boost growth but said a repeat of the massive coordinated ...
Thu, September 08, 2011
OECD says growth outlook has got much worse
By Leigh Thomas
PARIS (Reuters) - The outlook for economic growth in developed countries has got much worse in the last three months, the OECD ...
Thu, September 08, 2011
Gartner slashes 2011 PC market growth forecast
HELSINKI (Reuters) - Research firm Gartner slashed its growth forecast for the global PC market this year to 3.8 percent from its earlier forecast ...
Wed, September 07, 2011
Bernanke: Keen on strong growth, mum on measures
By David Bailey
MINNEAPOLIS (Reuters) - Federal Reserve Chairman Ben Bernanke on Thursday said the U.S. central bank would spare no effort to boost ...
Wed, September 07, 2011
U.S. recovery still on ropes in late summer: Fed
By Mark Felsenthal
WASHINGTON (Reuters) - The sluggish U.S. recovery failed to gain speed in recent weeks and softened in some areas of the ...
Tue, September 06, 2011
G7 to seek ways to revive global growth
By Daniel Flynn and Catherine Bremer
PARIS (Reuters) - Growing fears of a tip back into global recession are piling pressure on G7 finance chiefs ...
Tue, September 06, 2011
Rwanda touts vasectomies to stem population growth
By Graham Holliday and Themistocle Hakizimana
KIGALI (Reuters) - Rwanda's health ministry has launched a campaign encouraging men to undergo vasectomies, in an effort ...
Tue, September 06, 2011
Gold surges 1 percent to record on growth woes
By Rujun Shen
SINGAPORE (Reuters) - Spot gold climbed more than one percent to a record high above $1,920 on Tuesday, as concerns about ...
Mon, September 05, 2011
China growth may slide below 9 percent in 2012: FX regulator
By Kevin Yao
BEIJING (Reuters) - China's economic growth in 2012 may drop below 9 percent for the first time in a decade, a ...
Mon, September 05, 2011
G7 to seek ways to prop up global growth: source
By Jan Strupczewski
(Reuters) - Group of Seven financial leaders, worried about risks to global growth, are likely to agree this week to keep monetary ...
Mon, September 05, 2011
Analysis: Europe puts its head in sand over growth crisis
By Alan Wheatley, Global Economics Correspondent
LONDON (Reuters) - Japanization is shorthand for slouching toward that country's noxious mix of low growth and high ...
Sun, September 04, 2011
Europe and U.S. should consider stimulating growth: IMF's Lagard
BERLIN (Reuters) - IMF chief Christine Lagarde said in an interview released on Sunday that Europe and the United States should consider stimulating economic growth ...
Fri, September 02, 2011
Instant view: Job growth grinds to a halt in August
NEW YORK (Reuters) - U.S. employment growth ground to a halt in August as sagging consumer confidence discouraged already skittish U.S. businesses from ...
Thu, September 01, 2011
Report predicts disaster in Pa. without job growth
By Dave Warner
PHILADELPHIA (Reuters) - Pennsylvania's economy is in "deep trouble" and needs dramatic job growth to help its residents, one in four ...
Thu, September 01, 2011
Report predicts disaster in Pennsylvania without job growth
By Dave Warner
PHILADELPHIA (Reuters) - Pennsylvania's economy is in "deep trouble" and needs dramatic job growth to help its residents, one in four ...
Wed, August 31, 2011
White House sharply cuts growth forecast
By Alister Bull
WASHINGTON (Reuters) - President Barack Obama sharply cut estimates on Thursday for U.S. economic growth, underscoring the difficult challenge he faces ...
Wed, August 31, 2011
Lower trade gap boosts growth, but jobs weak
By Pedro Nicolaci da Costa
WASHINGTON (Reuters) - The U.S. economy may be stumbling, but it is still standing.
That was the message from ...
Wed, August 31, 2011
U.S. small business borrowing growth eases: PayNet
By Ann Saphir
CHICAGO (Reuters) - Small U.S. businesses in July moderated what had been a blistering pace of borrowing, held back by uncertainty ...
Wed, August 31, 2011
Russia's Mail.ru raises 2011 growth forecasts
By John Bowker
MOSCOW (Reuters) - Russian internet investment group Mail.ru raised its full-year revenue growth forecast to 50 percent from 40 percent on ...
Wed, August 31, 2011
Weak electronics short-circuit Asian growth
By Emily Kaiser
SINGAPORE (Reuters) - Japan and South Korea reported surprisingly weak July factory output on Wednesday as global electronics demand faded, exposing Asia ...
Tue, August 30, 2011
Bank of Italy warns on growth as bond sale falters
By Catherine Hornby and James Mackenzie
ROME (Reuters) - The Bank of Italy warned on Tuesday that government plans to cut debt were at risk ...
Tue, August 30, 2011
Analysis: Peabody/ArcelorMittal bet on steel growth
By Steve James
NEW YORK (Reuters) - The world's biggest steelmaker and America's largest coal producer could pay top dollar for Australia's ...
Tue, August 30, 2011
Bank of Italy warns on growth as bond sale falters
By Catherine Hornby and James Mackenzie
ROME (Reuters) - Italy's central bank warned on Tuesday government efforts to cut debt were at risk from ...
Tue, August 30, 2011
Qiagen aims for 2-digit percentage growth in 2012
FRANKFURT (Reuters) - Genetic-testing specialist Qiagen, which has been burdened by weak U.S. demand for two years, aims to return to double-digit percentage sales ...
Tue, August 30, 2011
Barnes & Noble sees strong Nook growth
By Phil Wahba
NEW YORK (Reuters) - Barnes & Noble Inc forecast sales of its Nook e-reader and e-books would more than double this fiscal year to $1.8 billion and said book sales would get a lift from the demise of rival Borders, sending its shares up 8 percent
The largest U.S. bookstore chain, which has bet its future on the success of the Nook, reported a narrower quarterly loss on Tuesday as the popularity of the Nook helped mitigate flagging book sales.
Sales of the Nook group of devices, which includes a standalone as well as a touch-screen reader, rose 140 percent to $277 million in the quarter, comprising nearly 20 percent of the company's total sales. That made it a larger business than the College Bookstore chain of 635 stores, where sales fell.
Chief Executive William Lynch told analysts on a conference call that the bookseller has 26 percent to 27 percent of the e-book market, the same market share he claimed last quarter.
In terms of sales, Nook is the No. 2 e-reader after Amazon.com Inc's Kindle. It also competes with Apple Inc's iPad tablet.
If the Nook and the e-books sales it generates live up to Barnes & Noble's expectations, they would account for a quarter of the chain's sales and all of its growth.
Sales at Barnes & Noble superstores slipped again in the fiscal first quarter, ended July 30, as readers continued migrating to e-books. The pain was made worse by Borders' liquidation sales, which are scheduled to end next month.
Barnes & Noble expects sales to get a net bump for the year of $150 million to $200 million as Borders shoppers move to Barners & Noble. Lynch expects stores to see their highest traffic level in five years this holiday season.
Sales at its namesake superstores open at least 15 months fell 1.6 percent during the first quarter, while same-store sales at its College Bookstore chain were down 1.8 percent.
Barnes & Noble reported a loss of $56.6 million, or 99 cents per share, for the quarter, compared with a loss of $62.5 million, or $1.12 per share, a year earlier.
The retailer's shares were up 8 percent to $12.38 in midday trade on Tuesday.
INVESTING IN NOOK
Barnes & Noble put itself up for sale a year ago but attracted only one firm offer -- a bid in May from John Malone's Liberty Media Corp, which ultimately decided to invest $204 million in the company rather than buy it outright.
Lynch said in an earlier statement that Barnes & Noble would continue to invest "appropriately" in the Nook. The money from Liberty will be used primarily to keep the Nook competitive.
With sales of books declining, Barnes & Noble is wise to focus on building up the Nook, an analyst said.
"All the cash flow generation is from the stores, and they're diverting it to the one area of growth: digital books," said Morningstar analyst Pete Wahlstrom.
Barnes & Noble, which operates 704 bookstores, expects total sales of $7.4 billion for the fiscal year, which ends next April, in line with analysts' estimates.
The company expects same-store sales at its bookstores to rise 2 percent to 3 percent for the year, helped primarily by Nook devices and, to some degree, by toys and games. It expects flat same-store sales at the College Bookstore division.
Barnes & Noble expects a full-year loss of 10 cents to 50 cents per share. Analysts on average expect a loss of 16 cents per share, according to Thomson Reuters I/B/E/S.
(Reporting by Phil Wahba; Editing by Derek Caney, Matthew Lewis and John Wallace)
Tue, August 30, 2011
S&P trims euro zone growth outlook
PARIS (Reuters) - Ratings agency Standard and Poor's lowered its economic growth forecasts for the euro zone on Tuesday, but said the shared currency ...
Fri, August 26, 2011
Obama, IMF chief agree on need to boost growth
VINEYARD HAVEN, Massachusetts (Reuters) - President Barack Obama and International Monetary Fund chief Christine Lagarde both feel the world economy needs further steps to boost ...
Fri, August 26, 2011
OECD sees cutting Europe, Japan growth forecasts
By Dan Burns and Ann Saphir
JACKSON HOLE, Wyoming (Reuters) - The OECD is prepared to cut growth expectations for much of the world, including ...
Fri, August 26, 2011
Poker-faced Fed chief buys time for options
By Mark Felsenthal
JACKSON HOLE, Wyoming (Reuters) - Like a skilled poker player, Federal Reserve Chairman Ben Bernanke kept some cards close to his vest ...
Fri, August 26, 2011
Instant view: Second-quarter growth revised down to 1 percent
NEW YORK (Reuters) - The U.S. economy grew much slower than previously thought in the second quarter as business inventories and exports were less ...
Fri, August 26, 2011
Second-quarter growth slows, outlook less dismal
By Lucia Mutikani
WASHINGTON (Reuters) - The struggling U.S. economy expanded even more slowly than previously thought in the second quarter of 2011, but ...
Thu, August 25, 2011
Analysis: Network gear makers stumble, but growth still there
By Siddharth Cavale
(Reuters) - As sales of smartphones soar and companies shift data to cloud computing, the outlook for the makers of the switches ...
Thu, August 25, 2011
ICBC, AgBank post record H1, dismiss local government
By Kelvin Soh and Terril Yue Jones
HONG KONG/BEIJING (Reuters) - Industrial and Commercial Bank of China <1398.HK> and Agricultural Bank of China Ltd <1288.HK>, the ...
Thu, August 25, 2011
UBS, Citi cut global growth view, rule out recession
BANGALORE (Reuters) - UBS and Citigroup lowered their forecast for global growth, with sharp reductions to its euro zone view and more modest cuts for ...
Thu, August 25, 2011
UBS cuts China growth outlook amid global slowdown
SINGAPORE/BEIJING (Reuters) - UBS cut its 2011 and 2012 growth forecasts for China on Thursday to reflect weaker growth prospects in developed economies, saying ...
Tue, August 23, 2011
Men, boomers fuel growth in spa industry
By Patricia Reaney
NEW YORK (Reuters) - The spa industry is booming, particularly in China and India, as more men and aging boomers seek pain ...
Tue, August 23, 2011
Afghanistan fights population growth with birth control
By Amie Ferris-Rotman
KABUL (Reuters) - The Afghan government is trying to curb a booming population by promoting birth control but such efforts have been ...
Tue, August 23, 2011
New Medtronic CEO seeks R&D change, global growth
By Susan Kelly and Lewis Krauskopf
CHICAGO/NEW YORK (Reuters) - Medtronic Inc's
Tue, August 23, 2011
Exclusive: Apple readies cheaper iPhone for growth markets
By Clare Jim and Kelvin Soh
TAIPEI/HONG KONG (Reuters) - Apple Inc will release a cheaper iPhone 4 within weeks, jeopardizing profit margins to ...
Sun, August 21, 2011
Hope for euro deal, China growth spur stocks
By Jeremy Gaunt, European Investment Correspondent
LONDON (Reuters) - World stocks put in solid gains on Monday as investors bet on a positive outcome to ...
Fri, August 19, 2011
Purified growth hormone not tied to brain disease
By Genevra Pittman
NEW YORK (Reuters Health) - Short kids who were treated with human growth hormone after 1977 -- when scientists started purifying the hormone ...
Fri, August 19, 2011
VW's volumes jump in July, no sign growth ending
FRANKFURT (Reuters) - Volkswagen
Thu, August 18, 2011
Caterpillar sees slowdown in dealer sales growth
BOSTON (Reuters) - Caterpillar Inc
Thu, August 18, 2011
VW confident on growth if economy dips: Labour rep
HAMBURG (Reuters) - German carmaker Volkswagen
Thu, August 18, 2011
Morgan Stanley cuts global growth view, eyes ECB
LONDON/BANGALORE (Reuters) - The United States and euro zone are "dangerously close to recession," Morgan Stanley said on Thursday, criticizing policymakers and predicting the ...
Wed, August 17, 2011
Obama to unveil economic plan in September speech
By Alister Bull
ATKINSON, Ill (Reuters) - President Barack Obama said on Wednesday he will propose a plan in September to jump-start the U.S ...
Tue, August 16, 2011
U.S. airlines trim service, restrain growth
By Karen Jacobs
ATLANTA (Reuters) - U.S. airlines, hoping to offset high fuel costs and potentially sagging travel demand, have taken a scalpel to ...
Tue, August 16, 2011
German growth slows, lending little euro support
By Brian Rohan
BERLIN (Reuters) - German gross domestic product growth slowed more than expected in the second quarter, data showed, raising questions over how ...
Tue, August 16, 2011
Analysis: China unlikely to cool investment as its growth engine
By Koh Gui Qing and Emily Kaiser
BEIJING (Reuters) - China's long-term plan to cut reliance on investment as a growth engine is clashing ...
Tue, August 16, 2011
German growth slows in Q2, outlook clouds
By Brian Rohan
BERLIN (Reuters) - German growth slowed to its weakest quarterly rate since 2009 between April and June, data showed, fuelling concerns a ...
Mon, August 15, 2011
Wal-Mart U.S. sales start to perk up, as do shares
By Jessica Wohl
CHICAGO (Reuters) - Wal-Mart Stores Inc said same-store sales at its U.S. discount chain rose in July, as a renewed emphasis ...
Mon, August 15, 2011
Huawei closes in on Ericsson, sees growth in consumer sector
By Lee Chyen Yee
HONG KONG (Reuters) - China's Huawei Technologies Co Ltd, the world's No.2 network equipment maker, posted an 11 ...
Fri, August 12, 2011
Analysis: Infrastructure woes - a roadblock to growth
By Jason Lange
WASHINGTON (Reuters) - Long famous for its top-notch highways and passion for cars, the United States is letting bridges rust as traffic ...
Fri, August 12, 2011
French economy stagnates in second quarter
By Brian Love
PARIS (Reuters) - French economic growth ground to a halt as household spending shrank in the second quarter, raising pressure on the ...
Thu, August 11, 2011
Nvidia shares jump but Tegra growth worries analysts
(Reuters) - Shares of Nvidia Corp rose as much as 11 percent on Friday on the company's strong third-quarter revenue forecast, but brokerage Evercore ...
Thu, August 11, 2011
TUI growth stalls as tourists avoid North Africa
By Victoria Bryan
FRANKFURT (Reuters) - German tourism and shipping group TUI AG
Thu, August 11, 2011
Striking Verizon workers boost jobless claims
By Lucia Mutikani
WASHINGTON (Reuters) - Striking workers at Verizon Communications pushed up new U.S. jobless claims last week, but there was little evidence ...
Wed, August 10, 2011
BHP Billiton sees weak European, U.S. growth for years
By James Regan and Michael Smith
SYDNEY (Reuters) - BHP Billiton
Tue, August 09, 2011
Gold edges lower before Bernanke speech
By Rujun Shen
SINGAPORE (Reuters) - Spot gold lost 0.4 percent on Friday, on course for its first weekly drop after seven straight weeks ...
Tue, August 09, 2011
AOL reports disappointing ad growth
By Jennifer Saba
NEW YORK (Reuters) - AOL Inc reported a surprise second-quarter loss on Tuesday, citing weaker-than-expected advertising growth that sent shares of the ...
Tue, August 09, 2011
OPEC cuts oil demand growth forecast on economy
By Alex Lawler
LONDON (Reuters) - OPEC, source of more than a third of the world's oil, cut its forecast for global oil demand ...
Mon, August 08, 2011
Analysts' view: Stocks rout continues, growth prospects bleak
SINGAPORE (Reuters) - Political leaders failed to halt a global stock market rout that gathered steam as investors lost confidence that Europe and the United ...
Mon, August 08, 2011
Analysis: No quick cure for slow growth at root of market malaise
By Alan Wheatley, Global Economics Correspondent
LONDON (Reuters) - From the United States and Italy to Japan and Greece, slow growth is hobbling the capacity ...
Mon, August 08, 2011
Brent dives to 6-month low below $99, U.S. crude at $76
By Alejandro Barbajosa
SINGAPORE (Reuters) - Brent crude plunged to a six-month trough below $99 a barrel on Tuesday in a two-session drop of more ...
Mon, August 08, 2011
Jobs woes sink Wall Street
By Ryan Vlastelica
NEW YORK (Reuters) - Stocks tumbled 2 percent on Friday after data showing zero jobs growth in August brought investors face-to-face with ...
Thu, August 04, 2011
Global stocks slide, gold hits new high
By Anirban Nag
LONDON (Reuters) - Global stocks ceded more ground on Friday, hurt by mounting concerns the U.S. economy is heading into another ...
Wed, August 03, 2011
Analysis: Obama, Bernanke out of ammo to boost jobs, growth
By Alister Bull and Jonathan Spicer
WASHINGTON/NEW YORK (Reuters) - The United States has a jobs problem and there's not a lot President ...
Wed, August 03, 2011
Instant view: Service sector growth slows in July
NEW YORK (Reuters) - Service sector growth slowed in July but stayed above a level indicative of growth, the Institute for Supply Management said on ...
Wed, August 03, 2011
World growth at risk as service sector slows
By Jonathan Cable and Pedro da Costa
LONDON/WASHINGTON (Reuters) - Growth in much of the world's service sector was anemic in July as ...
Tue, August 02, 2011
Healthy foods a growth industry as boomers age
STOWE, Vt (Reuters) - Food and beverage companies will need to gear up and churn out healthier food and products for aging baby boomers in ...
Mon, August 01, 2011
Europe, Asian factory growth stalls in July
By Andy Bruce
LONDON (Reuters) - Factories in Asia and Europe expanded in July at the weakest rate since major industrial powers were struggling through ...
Mon, August 01, 2011
ECB's Mersch says euro zone growth above potential: report
FRANKFURT (Reuters) - Euro zone growth is set to be above its ideal non-inflationary "potential" rate for 2011 and 2012, but inflation expectations remain anchored ...
Mon, August 01, 2011
Wall Street closes worst week since '08 with wild day
By Angela Moon
NEW YORK (Reuters) - Stocks closed out their worst week in more than two years on Friday in a volatile session that ...
Fri, July 29, 2011
Instant view: Q2 growth tepid; Q1 revised down sharply
NEW YORK (Reuters) - The U.S. economy grew less than expected in the second quarter as consumer spending barely rose amid higher gasoline prices ...
Fri, July 29, 2011
Chevron profit jumps with oil, output growth slow
By Matt Daily and Braden Reddall
NEW YORK/SAN FRANCISCO (Reuters) - Chevron Corp, the second-largest U.S. oil company, booked a 43 percent jump ...
Fri, July 29, 2011
Moody's threatens Spain rating cut
By Sonya Dowsett and Elisabeth O'Leary
MADRID (Reuters) - Rating agency Moody's put Spain on review for a possible downgrade on Friday, adding ...
Thu, July 28, 2011
Kohn: Fed might consider more easing
WASHINGTON (Reuters) - Former Federal Reserve Vice Chairman Donald Kohn said on Wednesday the Fed might need to give serious consideration to further easing if ...
Thu, July 28, 2011
Exxon profit up 41 percent, misses Street
By Anna Driver
HOUSTON (Reuters) - Exxon Mobil Corp reported a higher quarterly profit that missed Wall Street estimates as maintenance slowed its international refining ...
Thu, July 28, 2011
Thomson Reuters margins rise; CEO seeks to reassure
By Jennifer Saba
NEW YORK (Reuters) - Thomson Reuters Corp
Wed, July 27, 2011
Auto sales may see "bumpy" growth in new markets
DETROIT (Reuters) - The source of the auto industry's growth has seen a permanent shift to emerging markets that appear promising but also hold ...
Tue, July 26, 2011
Analysis: Pricing hit unlikely to deter Netflix growth
By Lisa Richwine
LOS ANGELES (Reuters) - Netflix Inc's star darkened briefly this week after a rare stumble on pricing incensed investors and triggered ...
Tue, July 26, 2011
Weak auto output, pricey gasoline to clip Q2 growth
WHAT: First reading on U.S. second-quarter GDP
WHEN: Friday, July 29, at 8:30 a.m. EDT
FACTORS TO WATCH
A contraction in ...
Tue, July 26, 2011
HTC faces test as investors fret over slowing growth
By Clare Jim and Tarmo Virki
TAIPEI/HELSINKI (Reuters) - Taiwan's HTC, which rose from obscure origins making phones for others to become one ...
Tue, July 26, 2011
Stocks tumble as growth, debt fears intensify
By Natsuko Waki
LONDON (Reuters) - World stocks tumbled toward five-month lows on Wednesday and top-rated government bonds rallied as worries grew that fiscal cutbacks ...
Fri, July 22, 2011
Low prices help McDonald's beat profit expectations
By Lisa Baertlein
LOS ANGELES (Reuters) - McDonald's Corp
Thu, July 21, 2011
Euro zone private sector growth slumps in July: PMI
By Jonathan Cable
LONDON (Reuters) - The euro zone's private sector grew at its weakest pace in almost two years this month as demand ...
Wed, July 20, 2011
HK experts identify gene that promotes liver cancer growth
By Tan Ee Lyn
HONG KONG (Reuters) - A recently-discovered gene may be responsible for the proliferation of liver cancer cells, a study in Hong ...
Wed, July 20, 2011
Analysis: Groupon growth lures rivals and regulators
By Alistair Barr
SAN FRANCISCO (Reuters) - Groupon Inc's rapid growth has attracted rivals and regulators, a twin threat to the largest online daily ...
Wed, July 20, 2011
Fed's Hoenig: growth to continue at modest pace
KANSAS CITY, Missouri (Reuters) - A top Federal Reserve official said on the Thursday the U.S. economy should grow at a modest pace for ...
Tue, July 19, 2011
Verizon to dominate Q2 wireless growth
By Sinead Carew
NEW YORK (Reuters) - Verizon Wireless is expected to far outstrip its biggest rivals AT&T Inc and Sprint Nextel in subscriber growth for its first full quarter selling the Apple Inc iPhone.
But the top U.S. wireless service may not have long to celebrate, as it grapples with profit margin pressure and the possibility of new iPhone sellers.
Verizon Wireless is expected to add about 930,000 net subscribers in its second-quarter results to be issued July 22, according to the average of estimates from seven analysts contacted by Reuters.
AT&T, which lost exclusive rights to the iPhone when Verizon started selling the device in February, is expected to scrape together just 91,000 net new subscribers this quarter. Sprint is expected to lose about 15,000 contract customers, according to the same analysts.
AT&T plans to post its results July 21, a week before Sprint's July 28 report.
On top of growth from the iPhone, analysts said Verizon Wireless also appears to be drumming up strong sales of smartphones for a high-speed network it is building based on Long Term Evolution (LTE) technology.
"It's due to solid iPhone sales as well as LTE handsets selling well," Mizuho analyst Michael Nelson said.
Apart from coping with the loss of iPhone exclusivity, which had boosted AT&T's growth for more than three years, the No. 2 U.S. mobile provider also lost about 100,000 customers in the second quarter according to Nelson. Those were customers that came from an acquisition of Alltel assets, who would have had to switch phones to stick with AT&T.
NEW LEADER IN THE MAKING
AT&T is seeking regulatory approval to buy T-Mobile USA, the No. 4 U.S. mobile provider owned by Deutsche Telekom. If the deal is approved, the $39 billion transaction would create a new market leader in 2012, surpassing Verizon Wireless in customer numbers.
Verizon Wireless, jointly held by Verizon Communications and Vodafone Group, has long led the U.S. market in wireless service profit margins.
But those margins may have come under pressure because it pays a higher subsidy to sell iPhones than other devices. Those subsidies allow operators like Verizon and AT&T to discount phones in order to lure consumers into two-year contracts.
As a result, analysts see Verizon's wireless service profit margin falling to as low as 44.7 percent in the second quarter, from 47.5 percent a year earlier. AT&T's margin is expected to fall to about 40 percent from 43.1 percent a year.
Some analysts also speculate that Apple may allow Sprint Nextel, the No. 3 U.S. mobile service, and T-Mobile USA to sell the next version of iPhone, which is expected to go on sale in September.
That would create tougher competition for both Verizon and AT&T. If Sprint continues to offer wireless service plans that allow unlimited mobile web-surfing -- a key offering for iPhone customers -- this could make it more attractive to heavy data users than today's two iPhone providers.
This puts pressure on Verizon Wireless to win as many new iPhone customers as it can and as quickly as possible, according to Piper Jaffray analyst Christopher Larsen, who expects wider U.S. iPhone distribution to come soon.
"In general you'll see share shift to Sprint and T-Mobile from Verizon and AT&T" if they get the iPhone Larsen said.
(Reporting by Sinead Carew; editing by Derek Caney)
Mon, July 18, 2011
Goldman Sachs cuts U.S. second-quarter growth estimates
WASHINGTON (Reuters) - Goldman Sachs has cut its forecast for U.S. second-quarter growth to 1.5 percent from 2 percent, citing weak consumer spending ...
Mon, July 18, 2011
Mobile devices to lead consumer electronics growth: report
NEW YORK (Reuters) - More customers than ever will buy tablet computers and smartphones this year, driving consumer electronics revenue to a record high of ...
Fri, July 15, 2011
Industrials could signal slower growth ahead
By Nick Zieminski
NEW YORK (Reuters) - U.S. manufacturers are entering an period where growth is more muted, profit margins are harder to raise ...
Fri, July 15, 2011
NY Fed manufacturing growth contracts again in July
NEW YORK (Reuters) - A gauge of manufacturing in New York State showed the sector unexpectedly contracted for the second month in a row as ...
Wed, July 13, 2011
States' sales tax growth slows in June: report
WASHINGTON (Reuters) - State sales tax revenues grew slowly in June, with an average gain of only 2.1 percent, according to a report released ...
Wed, July 13, 2011
China quarterly growth tops forecast, boosts inflation fight
By Aileen Wang and Kevin Yao
BEIJING (Reuters) - China's economy grew faster than expected in the second quarter, easing fears of a hard ...
Mon, July 11, 2011
Starbucks reorganizes for international growth
By Lisa Baertlein and Alistair Barr
LOS ANGELES/SAN FRANCISCO (Reuters) - Starbucks Corp
Mon, July 11, 2011
Renault relies on Brazil, Russia for sales growth
By Helen Massy-Beresford and Gilles Guillaume
PARIS (Reuters) - Renault
Sun, July 10, 2011
China June import growth weakest in 20 months
By Kevin Yao and Wan Xu
BEIJING (Reuters) - China's import growth fell sharply to its slowest pace in 20 months in June in ...
Thu, July 07, 2011
July payrolls gain soothes recession fears
By Lucia Mutikani
WASHINGTON (Reuters) - U.S. job growth accelerated more than expected in July, tamping down fears the economy was sliding into a ...
Wed, July 06, 2011
Visa sees lower revenue growth after debit crackdown
NEW YORK (Reuters) - Visa Inc
Tue, July 05, 2011
Euro zone growth slows, orders dry up: PMIs
By Jonathan Cable
LONDON (Reuters) - European services growth slowed in June in the face of sluggish new orders and rising interest rates, giving firms ...
Mon, July 04, 2011
BOJ's Shirakawa says global growth slowing but recovery intact
By Leika Kihara
TOKYO (Reuters) - Bank of Japan Governor Masaaki Shirakawa said the world economy continues to recover albeit at a slower pace, taking ...
Fri, June 24, 2011
Geithner sees first-half U.S. growth around 2 percent
WASHINGTON (Reuters) - U.S. Treasury Secretary Timothy Geithner said first half U.S. growth will likely slow to about two percent because of high ...
Thu, June 23, 2011
Overachiever Oracle faces high growth hurdles
By Bill Rigby
SEATTLE (Reuters) - Oracle Corp has a habit of beating Wall Street expectations, but some investors fear billionaire Larry Ellison's software ...
Sun, June 19, 2011
What will the Fed say about growth?
By Lucia Mutikani
WASHINGTON (Reuters) - The U.S. economy has slowed in recent months, but underlying inflation pressures are rising. How will the Federal ...
Fri, June 17, 2011
IMF cuts U.S. growth forecast, warns of crisis
By Luciana Lopez
SAO PAULO (Reuters) - The International Monetary Fund cut its forecast for U.S. economic growth on Friday and warned Washington and ...
Tue, June 14, 2011
Major economies losing growth momentum: OECD
PARIS (Reuters) - Major economies, with the exception of the United States, are losing momentum as the outlook for growth worsens in European and developing ...
Tue, June 14, 2011
BOJ boosts loans for growth sectors, affirms recovery view
By Leika Kihara
TOKYO (Reuters) - The Bank of Japan on Tuesday kept monetary policy on hold but expanded a loan scheme targeting growth industries ...
Mon, June 13, 2011
China May loans slow, money growth at 30-month lows
By Koh Gui Qing and Aileen Wang
BEIJING (Reuters) - China's money growth slowed to a 30-month low in May and banks extended fewer ...
Fri, June 10, 2011
Deficit cut would trim growth: BlackRock's Fink
By Aaron Pressman
CHICAGO (Reuters) - A $4 trillion reduction of the U.S. budget deficit, if enacted by Congress, would trim economic growth by ...
Wed, June 08, 2011
Growth slowed in spring but didn't stall: Fed
By Glenn Somerville
WASHINGTON (Reuters) - Growth slowed in some U.S. regions during May as costlier food and energy as well as supply disruptions ...
Wed, June 08, 2011
Pawlenty says 5 percent growth is "aspirational"
By David Morgan
WASHINGTON (Reuters) - White House candidate Tim Pawlenty on Wednesday appeared to soften his call for achieving economic growth of 5 percent ...
Wed, June 08, 2011
Moody's UK rating at risk if growth, austerity slip
By Fiona Shaikh
LONDON (Reuters) - The outlook for Britain's prized triple-A credit rating remains stable but weaker growth and slippage in the government ...
Tue, June 07, 2011
Ford eyes India, China to hit 50 percent growth target
By Bernie Woodall and Scott Malone
DETROIT (Reuters) - Ford Motor Co
Tue, June 07, 2011
Hexagon sets new targets, CEO eyes strong growth
By Niklas Pollard
ORLANDO, Florida (Reuters) - Fast-growing measurement technology group Hexagon
Fri, June 03, 2011
With new high-tech plant, Sara Lee plots growth
By Carey Gillam
KANSAS CITY, Kansas (Reuters) - Sara Lee Corp's
Fri, June 03, 2011
Service sector growth picks up in May: ISM
NEW YORK (Reuters) - The pace of growth in the services sector picked up modestly in May while gauges of new orders and employment climbed ...
Fri, June 03, 2011
Wal-Mart sets new $15 billion buyback of lagging stock
By Jessica Wohl
FAYETTEVILLE, Arkansas (Reuters) - Wal-Mart Stores Inc
Thu, June 02, 2011
IBM sees strong growth in Africa for IT sector
DAR ES SALAAM (Reuters) - International Business Machines said on Thursday it expects Africa to be a strong growth area for the information technology business ...
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