Business Report
Join London-based Barclays equity strategist Henk Potts for business and banter every morning at 7:50 a.m. during The National.
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Business Report: Spanish, Italian bond auctions step in right directionFriday, 13 January, 2012Henk Potts runs over volatile market trading yesterday following disappointing weekly U.S. job and retail numbers. Spain and Italy held successful bond auctions—a step in the right direction toward solving the eurozone debt crisis. And China’s inflation eased to a 15-month low in December:
Business Report: Skyscraper boom could herald economic doomThursday, 12 January, 2012Markets fell yesterday after Fitch Ratings warned European Central Banks should take a more active role in buying eurozone debt. Henk Potts has a full report and he looks ahead to the European Central Bank interest rate decision today. Plus, GDP growth for Germany shrank in the fourth quarter. And a new report correlates skyscraper building booms with impending economic crises:
Business Report: Swatch sales tick up and upWednesday, 11 January, 2012Markets were up yesterday, buoyed by Alcoa’s positive outlook and higher Chinese imports. Henk Potts also talks about Swatch’s positive update with record sales for 2011—up 22 percent on the year before, despite the strong Swiss franc. However, shares for Philips slumped due to weakness in European markets:
Business Report: Mixed messages from Berlin euro fiscal talksTuesday, 10 January, 2012Henk Potts comments on the resignation of the SNB head Philipp Hildebrand, saying it’s no real surprise but that there are quite a few people who feel sorry for him. Mixed messages emerged from the latest European leaders’ meeting in Berlin, putting pressure on European shares yesterday. In corporate news, Alcoa posts a fourth-quarter loss but forecasts a better outlook. And BMW posted record sales for 2011:
Business Report: Euro fiscal integration on the table againMonday, 9 January, 2012Henk Potts comments on America’s positive December jobless rate, which dropped to a near three-year low of 8.5 percent, beating analysts’ expectations. However, more than 20 million Americans still remain out of work. And Germany and France’s leaders are meeting again today to talk about eurozone fiscal integration. Plus, Samsung surges past Apple as the top maker of smartphones in the third quarter of 2011 and Rolls-Royce’s sales are up 31 percent:
Business Report: Euro hits new low against dollarFriday, 6 January, 2012Markets traded lower yesterday amid sliding German retail sales. The euro hit a new low against the dollar after delays on the next payout for Greece from the IMF and eurozone. The U.S. unemployment rate is expected to stay below 9 percent. In corporate news, Kodak could be prepping to file for bankruptcy, and its shares are plummeting:
Business Report: Bentley sales boosted by ChinaThursday, 5 January, 2012Henk Potts has the details on slumping European shares yesterday. In corporate news, Bentley sales rose 37 percent for the luxury car maker—with sales in China doubling. And Domino’s Pizza sales are up 6 percent in the fourth quarter. The firm expects expansion into Germany to be very profitable:
Business Report: Markets climb as U.S. jobless claims dropFriday, 23 December, 2011The markets are buoyant amid news from the U.S.—jobless claims are down and consumer confidence figures are up. Forth Capital’s Robert Harris reports on the highs and (mostly) lows of 2011 as well as looking ahead to 2012:
Business Report: Bond-buying up in safe haven JapanThursday, 22 December, 2011Robert Harris of Forth Capital talks about the meager market performance as the European Central Bank lent cheap money to eurozone banks. But instead of buying eurozone sovereign debt, the banks seem to be sitting on the cash they’ve borrowed to shore up their balance sheets. Plus a boom in bond purchases in Japan, which is being seen as a safe haven. In corporate news, Nike’s income rose in the second quarter:
Business Report: Markets rally amid Spanish debt buyingWednesday, 21 December, 2011Markets have rallied amid European banks’ ability to borrow cheaply from the European Central Bank to buy Spanish debt. Looking ahead to 2012, Henk Potts says there are two key things to watch out for—European politicians’ ability to solve the eurozone debt crisis, as well as the power of the U.S. consumer to spend. U.S. consumers make up 14 percent of global sales. Plus news from the pharma market:
Business Report: Twitter about to get some Saudi doshTuesday, 20 December, 2011Saudi Prince Al-Waleed bin Talal, ranked No. 26 on the Forbes billionaires list, has unveiled a $300 million state purchase of Twitter, adding to his 7 percent stake in NewsCorp. The investment equates to about 3.75% of Twitter shares. Henk Potts has details on that, plus Saab on the brink of destruction and in the music industry, HMV is struggling:
Business Report: Fitch may downgrade France and other eurozone countriesMonday, 19 December, 2011South Korean shares are down on the news of the death of North Korean leader Kim Jong Il. Henk Potts has more details. In other news, Fitch has warned it may downgrade France and six other eurozone countries, as it believes a debt solution is technically out of reach. In corporate news, Toyota is set to lose its top spot for auto sales:
Business Report: Swiss manufacturing falls in third quarterFriday, 16 December, 2011Robert Harris of Forth Capital says equity markets bounced back amid better labor market figures for jobless claims. U.S. manufacturing accelerated more than expected. Plus he talks about the ongoing debate among European nations over the effectiveness of eurozone fiscal reform. And in Switzerland, the SNB decided to keep interest rates near zero and the franc capped at CHF1.20 to the euro. Finally, Swiss manufacturing fell in the third quarter:
Business Report: Markets slump as Fed fails to inject new stimulusThursday, 15 December, 2011European shares close at a two-week low as Italy pays a record amount at its bond auction and the U.S. Federal Reserve fails to unveil new stimulus action for the U.S. economy. The Swiss National Bank meets to talk interest rates and the franc. In corporate news, Zara owner Inditex announces a rise in third quarter sales. Henk Potts has the rundown:
Business Report: Swiss government cuts growth forecastWednesday, 14 December, 2011Switzerland says it doesn’t fear a deep downturn—as long as the Eurozone position doesn’t worsen further—but has cut its 2012 growth forecast 0.5 percent citing the worsening European economy’s effects on Swiss export sector. They’re staying optimistic though, counting on a slight upturn in the second half of the year. Henk Potts has details: