19 April, 2015 by The TZ Newswire Staff Comments Off on McDonald’s Corp.’s Turnaround Plans are Leaving Behind a Key Constituency
McDonald’s Corp.’s Turnaround Plans are Leaving Behind a Key Constituency
Franchisees are livid about some of McDonald’s new ideas.
19 April, 2015 by The TZ Newswire Staff Comments Off on For short-sellers in U.S. stocks, the agony just piles on
For short-sellers in U.S. stocks, the agony just piles on
In January 2014, veteran short-seller Bill Fleckenstein said he was readying a new fund to bet on falling stock prices. Despite lackluster U.S. economic data, a world grappling with slow growth, concern that Greece and Ukraine could default on their debts, the U.S. stock market has been more than resilient. It has been impossible,” Seattle-based Fleckenstein told Reuters. “It all comes down to free money and that old saw – ‘don’t fight the Fed,'” said Jeff Matthews, who runs Ram Partners, a Naples, Florida-based hedge fund.
19 April, 2015 by The TZ Newswire Staff Comments Off on Euro working group to meet Wednesday, deal still sought: Greek official
Euro working group to meet Wednesday, deal still sought: Greek official
Euro zone deputy finance ministers will meet midweek ahead of a Eurogroup finance ministers’ gathering two days later, a Greek government official told Reuters, as Athens and its creditors continue to seek a deal on reforms to unlock aid. “The two sides agreed that there will be a Euro Working Group meeting on Wednesday,” the official close to the talks said, declining to be named. Deputy ministers of the so-called Euro Working Group, usually prepare meetings of euro zone finance ministers.
19 April, 2015 by The TZ Newswire Staff Comments Off on Britain’s bank tax jump threatens to push HSBC, StanChart to new home
Britain’s bank tax jump threatens to push HSBC, StanChart to new home
HSBC and Standard Chartered are looking at the viability of quitting London for a new home in Asia because a big jump in a tax on UK banks makes staying in Britain increasingly painful. Several investors told Reuters they want the two banks to do a thorough analysis on whether it makes sense to move after Britain raised the bank tax by a third last month. Some are expected to quiz bosses on it at shareholder meetings, including at an investor gathering in Hong Kong on Monday.
19 April, 2015 by The TZ Newswire Staff Comments Off on IG Metall says no reason to undermine Volkswagen Chairman Piech
IG Metall says no reason to undermine Volkswagen Chairman Piech
IG Metall union said on Sunday there is no reason to undermine Volkswagen (VOWG_p.DE) Chairman Ferdinand Piech after the row over the carmaker’s leadership. Berthold Huber, prominent member of the union and also deputy chairman of VW’s supervisory board, said it’s important to have two strong personalities at the top of Europe’s largest automotive group. “We are determined with (Chairman) Piech and (Chief Executive Martin) Winterkorn to continue the successful path of VW also in future,” Huber said in a statement.
19 April, 2015 by The TZ Newswire Staff Comments Off on Oil slide slashes first-quarter profit, not investment plans at Saudi’s SABIC
Oil slide slashes first-quarter profit, not investment plans at Saudi’s SABIC
Saudi Basic Industries Corp faces heavy pressure on its profits due to cheap oil but will keep investing globally to boost capacity in key areas, its acting chief executive said on Sunday after the company reported a 39 plunge in first-quarter profit. SABIC , one of the world’s largest petrochemicals groups and Saudi Arabia’s biggest listed firm, said net profit sank to 3.93 billion riyals ($1.05 billion) in the three months to March 31 from 6.44 billion riyals a year earlier. Its sales values were slashed by the plunge of oil prices, which has dragged down petrochemical product prices.