News
European equities closed lower on Friday, June 12, as the standoff between Greece and its creditors threatens to push the continent’s financial system to the breaking point. When the Euro Stoxx 50, which tracks 50 of the largest and most liquid stocks in Europe, closed, it was down…
Bond yields rose in early trading on Friday, June 12 on investors’ fears that central banks could begin hiking interest rates later this year. The yield on the benchmark 10-year U.S. Treasury note rose to 2.4% Friday morning, up nearly 40 basis points from the previous close. Benchmark…
Krispy Kreme Doughnuts, Inc. (NYSE/KKD) shares soared in Thursday (June 11) trading after the company reported blow-out financial results. This suggests that the coffee and doughnut chain still has a lot of room to grow. After the closing bell on Wednesday, Krispy Kreme reported its financial results for…
Following more than five years of successful partnership, TeliaSonera and Spotify have decided to tighten their relations even further. On Wednesday, Swedish telecommunications operator TeliaSonera announced that it would invest $115 million to acquire a 1.4% stake in Spotify, valuing the streaming music service at more than $8.0…
Target Corp. (NYSE/TGT) announced an increase to its dividend and share buyback program, a sign that the struggling retailer may finally be turning around. (Source: Target, June 9, 2015.) Target’s board of directors has declared a quarterly dividend of 56 cents per common share, a 7.7 % increase…
Shares of embattled Deutsche Bank AG (NYSE/DB) plunged on Tuesday, June 9 after prosecutors raided the banking giant’s head offices in Frankfurt, Germany. According to a company spokesperson, German authorities searched offices at Deutsche Bank headquarters and seized documents. However, the bank emphasized that the investigation is focused…
General Electric Company (NYSE/GE) has agreed to sell its private equity-lending business to the Canada Pension Plan Investment Board. This marks the company’s latest move to focus on its core industrial business. The announcement came in on Tuesday, June 9: GE would sell its U.S. Sponsor Finance business…
On Sunday, June 7, 2015, the supervisory board of Deutsche Bank AG (NYSE/DB) announced its decision to appoint John Cryan to the position of Co-Chief Executive Officer, effective July 1, 2015. (Source: Deutsche Bank, last accessed June 8, 2015.) Cryan will succeed Jürgen Fitschen and Anshu Jain. Cryan,…
HSBC Holdings plc (NYSE/HSBC) announces that it would reduce its head count by up to 50,000 as part of a global overhaul to improve the profitability of its sprawling operations. HSBC was founded in 1865 to finance trade between Asia and the West. Today, HSBC is one of…
Lululemon Athletica Inc. (NASDAQ/LULU) announced its earnings for the first quarter of fiscal 2015 ended May 3. The Canadian-based yogawear retailer expects to see higher revenue and profit in the coming fiscal year. Founded in 1998, Lululemon's first real store opened in November of 2000 in the beach…
On Monday, June 8, the Chinese General Administration of Customs announced its report on exports and imports for the month of May 2015. (Source: General Administration of Customs, June 8, 2015.) Exports and Imports Declined Year-Over-Year Total exports were valued at 1.17 trillion yuan ($191.16 billion) for the…
On Sunday, June 7, 2015, the Government of Iceland agreed to present before Parliament two bills of legislation sponsored by the Minister of Finance and Economic Affairs. Together, the two bills lay the foundation for a comprehensive strategy for capital account liberalization. (Source: Iceland Prime Minister’s Office, June…
On June 8, 2015, McDonald’s Corp. (NYSE/MCD) announced that global comparable sales decreased 0.3% in May. However, global sales edged in above expectations. (Source: McDonald’s, June 8, 2015.) McDonald's is the world's leading global food service retailer with over 36,000 locations serving approximately 69 million customers in over…
On Friday, June 5, Cardinal Health, Inc. (NYSE/CAH) announced that it would acquire The Harvard Drug Group for $1.115 billion. (Source: Cardinal Health, June 5, 2015.) Cardinal Health is a healthcare services company specializing in the distribution of pharmaceuticals and medical products. It serves more than 60,000 locations.…
Dish Network Corp. (NASDAQ/DISH) and T-Mobile US, Inc. (NYSE/TMUS) are negotiating a deal to combine the second-largest satellite TV operator in the United States with the fourth-largest wireless carrier. (Source: The Wall Street Journal, June 4, 2015.) On Thursday, June 4, 2015, Dish shares opened at $74.95, nearly…
Wal-Mart Stores Inc. (NYSE/WMT) will raise minimum wages for more than 100,000 of its U.S. workers in some departments. This is the second time the world's largest retailer has announced a wage hike this year. (Source: Reuters , June 2, 2015.) Wal-Mart Stores, Inc. is engaged in the…
Citigroup Inc. (NYSE/C) is expected to close its Banamex USA operation after government authorities began probes of possible violations of anti-money laundering laws, according to The Wall Street Journal. (Source: The Wall Street Journal, May 31, 2015.) Incorporated on March 8, 1988, Citigroup Inc. is a financial services…
Early Wednesday morning, on May 27, seven FIFA officials were arrested by Swiss police in a five-star hotel in Zurich. Meanwhile, U.S. prosecutors unveiled charges detailing “rampant, systematic and deep-rooted” corruption at the organization. The Fédération Internationale de Football Association, better known as FIFA, is the international governing…
