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Richemont chairman Johann Rupert to take 'grey gap... Billionaire 62-year-old to take 12 months off from Cartier and Montblanc luxury goods groupRichemont's chairman and founder Johann Rupert is to take a year off from September, leaving management of the...

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Cambodia: aftermath of fatal shoe factory collapse... Workers clear rubble following the collapse of a shoe factory in Kampong Speu, Cambodia, on Thursday

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Spate of recent shock departures by 50-something CEOs While the rising financial rewards of running a modern multinational have been well publicised, executive recruiters say the pressures of the job have also been ratcheted upOn approaching his 60th birthday...

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Stora Enso Oyj (SEOAY: OTCQX International Premier) | Stora Enso treasury shares cancelled and share conversion registered

Category : World News

Stora Enso treasury shares cancelled and share conversion registered


In accordance with a decision of Stora Enso’s Annual General Meeting on 23 April 2013, 918 512 treasury R shares (approximately 0.12% of the issued shares) have been cancelled. The cancellation of these treasury shares was recorded in the Finnish trade register today, 15 May 2013.

In addition, during the 6 February – 30 April 2013 conversion period there was one conversion and a total of 400 A shares were converted into R shares. The shares were recorded in the Finnish trade register today, 15 May 2013, and trading in the new R shares will start on 16 May 2013.

Breakdown of shares after cancellation and conversion:

< ?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

A shares

177 146 372

R shares

611 473 615


788 619

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US retail sales inch up in April

Category : Business, World News

US retail sales rose unexpectedly in April, after falling back in the previous month.

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China industrial output disappoints

Category : Business

Industrial production in China recorded a smaller-than-expected rise in April, underlining worries that the economy may be losing steam.

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Yen breaks 100 mark versus US dollar

Category : World News

The Japanese currency breaches the 100 yen to the US dollar mark for the first time since April 2009.

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Yen breaks 100 mark versus US dollar

Category : Business, World News

The Japanese currency breaches the 100 yen to the US dollar mark for the first time since April 2009.

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UK retailers suffered sales drop in April, BRC report shows

Category : Business

British Retail Consortium’s three-month average, which irons out distorting effect of Easter, shows growth slowed to 2.6%

Retailers suffered a 2.2% drop in sales last month compared with a year ago, thanks to the timing of Easter and wintry weather, according to industry figures.

The British Retail Consortium’s three-month total growth average, which irons out the distorting effect of Easter falling in April last year and March this year, was 2.6%. That was a slower pace of growth than in the three months to February and March and the BRC said a recovery in consumer spending remained elusive.

“There’s a sense that people are more prepared to spend than they were but chief executives are telling me that’s volatile. A convincing trend towards revival is hard to spot and competitive pricing is still critical to generating sales,” said the BRC’s director general Helen Dickinson.

But April was not all bad, she stressed, noting that for non-food sales it was better than March once the Easter distortion was taken away.

“Wintry weather, followed by the arrival of sun, had a big influence on some retailers,” she said. “Fashion sales were weak early in the month but that was almost entirely made up later when signs of spring arrived. While health and beauty gained both ways with strong sales of cold and flu remedies and then of bronzing and skin care products.”

China’s trade growth accelerates

Category : Business, World News

China’s trade growth accelerates in April, beating analysts’ expectations, a positive sign for the country’s fragile economic recovery.

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easyJet Plc (ESYJY: OTCQX International Premier) | April traffic stats

Category : Stocks

7 May 2013



Month ending

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Euro zone set for deeper recession in Q2 – PMI – Reuters UK

Category : Stocks
Euro zone set for deeper recession in Q2 – PMI
Reuters UK
By Jonathan Cable. LONDON | Mon May 6, 2013 10:01am BST. LONDON (Reuters) – The euro zone's business downturn dragged on in April, suggesting the region may be falling deeper into recession this quarter, business surveys showed on Monday.
Italy service sector contraction slows in April: PMIEconomic Times
Euro-Zone PMI Revised Higher, but Signs of an Economic Downturn ContinueDailyFX

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Markets soar as US unemployment hits lowest level since 2008

Category : Business

Dow Jones Industrial Average pushed past 15,000 briefly after figures showing joblessness had fallen to 7.5% in April

Stock markets rose to record levels as the job market avoided a feared spring freeze by adding 165,000 new jobs last month, marking a four-year low in US unemployment.

Joblessness fell to 7.5% in April, its lowest since December 2008, in news that pushed the Dow Jones Industrial Average past 15,000 briefly and saw Standard & Poor’s 500-stock index pass 1,600 for the first time. After the initial surge the Dow Jones Industrial Average edged back below 15,000 in the afternoon, while Standard & Poor’s 500-stock index also slipped back below 1,600.

Figures from the US labour department came after a week of worrying signals for the US’s fragile economic recovery as the Federal Reserve warned that Washington’s budget cuts were holding back the economy.

Federal budget reductions, triggered by the sequestration spending cuts, started in March and initial estimates of the immediate impact on jobs was negative. However, those figures were revised up alongside the publication of the April data. The Bureau of Labour Statistics (BLS) dampened fears of a slowdown on Friday as it declared that the US had added 114,000 jobs over February and March.

In a note to clients, Dan Greenhaus, chief strategist at trader BTIG, said sequestration seemed to have had “little to no effect on this report”.

The number of long-term unemployed – those jobless for 27 weeks or more – declined by 258,000 to 4.4 million and their share of the total declined by 2.2 percentage points to 37.4%. Over the past 12 months the number of long-term unemployed has decreased by 687,000, and their share has declined by 3.1 points.

The BLS said that over the prior 12 months employment growth had averaged 169,000 per month. The figure is still low after revisions but the latest report paints a far healthier picture of the jobs market than had been expected.

The private sector added 176,000 new jobs last month. Professional and business services added 73,000 jobs in April and have added 587,000 jobs over the past year, said the BLS.

Employment in temporary help services rose 31,000, professional and technical services added 23,000, and retail trade employment increased by 29,000 in April. The BLS said last month that retail had shed 24,000 jobs, triggering concerns about a slowdown in spending after the imposition of payroll taxes at the end of the year. The manufacturing sector, a closely watched gauge of broader economic strength, was unchanged in April, while government employment fell by 11,000.