13 March, 2015 by The TZ Newswire Staff Comments Off on Investors in ‘patient panic’ over Fed language
Investors in ‘patient panic’ over Fed language
U.S. stock markets are in the midst of a “‘patient’ panic” ahead of Wednesday’s Federal Reserve statement, when many investors expect a change in the Fed’s language that would send the clearest signal yet that a rate hike is coming soon. The S&P 500 has fallen 2.6 percent since February’s stronger-than-expected jobs report a week ago boosted expectations for an interest rate increase as soon as June. Stocks may fall further if Fed Chair Janet Yellen drops a pledge to be “patient” about rate hikes in the Fed’s statement after the upcoming policy meeting.
13 March, 2015 by The TZ Newswire Staff Comments Off on Weak profit margins dampen U.S. producer inflation
Weak profit margins dampen U.S. producer inflation
U.S. producer prices fell in February for a fourth straight month, pointing to tame inflation that could argue against an anticipated June interest rate hike from the Federal Reserve. The Labor Department said on Friday its producer price index for final demand declined 0.5 percent as profit margins in the services sector, especially gasoline stations, were squeezed, and transportation and warehousing costs fell.
13 March, 2015 by The TZ Newswire Staff Comments Off on Coke CEO’s declined bonus not enough for pay critic Winters
Coke CEO’s declined bonus not enough for pay critic Winters
A decision by Coca-Cola Co’s chief executive to decline his 2014 bonus did not go far enough, a well-known pay critic said Friday, indicating the company could face more scrutiny of its compensation ahead of its shareholder meeting this spring. While Coke Chairman and Chief Executive Muhtar Kent declined a $2.5 million bonus, that amount was offset by increases in the value of his stock-based awards, said David Winters, whose Wintergreen Advisers owns about 2.5 million Coke shares.
13 March, 2015 by The TZ Newswire Staff Comments Off on BlackBerry wins dismissal of U.S. lawsuit over BlackBerry 10
BlackBerry wins dismissal of U.S. lawsuit over BlackBerry 10
U.S. District Judge Thomas Griesa in Manhattan said the plaintiffs failed to show that BlackBerry and top officials materially misled them in touting how well customers were accepting the devices, and failing to take writedowns fast enough when sales proved disappointing. Once known as Research in Motion, BlackBerry launched BlackBerry 10 in January 2013 in a bid to recoup market share lost to Apple Inc’s (AAPL.O) iPhone, and Samsung Electronics Co Ltd devices powered by Google Inc’s (GOOGL.O) Android.
13 March, 2015 by The TZ Newswire Staff Comments Off on China’s BYD takes aim at Tesla in battery factory race
China’s BYD takes aim at Tesla in battery factory race
Chinese automaker BYD (1211.HK) Co Ltd , backed by Warren Buffett’s Berkshire Hathaway Inc (BRKa.N), aims to triple its production of batteries as it takes on Tesla Motors (TSLA.O) in the race to supply electric vehicles and boost energy storage. Shenzhen-based BYD plans to add 6 gigawatt hours of global production for batteries in each of the next three years, and hopes to keep adding at that pace afterwards if demand is solid, Matthew Jurjevich, a spokesman for the company, said on Friday.
13 March, 2015 by The TZ Newswire Staff Comments Off on People linked to Pershing Square probed over Herbalife: Ackman
People linked to Pershing Square probed over Herbalife: Ackman
Herbalife’s shares rose more than 15 percent after the Wall Street Journal reported late on Thursday that federal prosecutors and the FBI were probing whether false statements were made in order to spur investigations into the company and lower its stock price. Ackman, whose hedge fund Pershing Square Capital Management LP is short on Herbalife’s shares, said in a CNBC interview on Friday that he could not be certain if people hired by Global Strategy Group had made false statements to regulators.
13 March, 2015 by The TZ Newswire Staff Comments Off on DuPont rejects Peltz’s proposal to add four nominees
DuPont rejects Peltz’s proposal to add four nominees
The company said on Friday that it was prepared to accept one of Peltz’s nominees, John Myers, in an attempt to end a proxy war with Trian. Peltz told CNBC on Thursday that DuPont’s offer of one board seat was not enough. Peltz wants two of his fund’s nominees, including himself, on the DuPont Board and two on the board of Chemours, the performance chemicals business DuPont plans to spin off later this year.