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Chase Bank Limits Cash Withdrawals, Bans International... Before you read this report, remember to sign up to http://pennystockpaycheck.com for 100% free stock alerts Chase Bank has moved to limit cash withdrawals while banning business customers from sending...

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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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UK Uncut loses legal challenge over Goldman Sachs tax... While judge agreed the deal was 'not a glorious episode in the history of the Revenue', he ruled it was not unlawfulCampaign group UK Uncut Legal Action has lost its high court challenge over the legality...

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China’s manufacturing sector unexpectedly slows

Category : Business

Dip in April PMI shows ‘foundation for China’s economic recovery is still not solid’, says economist

Growth in China’s manufacturing sector unexpectedly slowed in April, with the official purchasing managers’ index (PMI) falling to 50.6 from March’s 11-month high of 50.9 as new export orders and input prices contracted, data showed on Wednesday.

The outcome was lower than market expectations in a Reuters poll of 51.0, but figure from the National Bureau of Statistics showed the PMI has stayed above the watershed mark of 50, which separates expansion from contraction compared with a month earlier, for seven straight months.

A subindex measuring new orders fell to 51.7 in April from 52.3 in March, while new export orders swung into contraction, falling to 48.6 from 50.9 in March.

“The dip in April PMI shows that the foundation for China’s economic recovery is still not solid,” said Zhang Liqun, an economist at the Development Research Centre, a government thinktank in Beijing. “The fall in new orders shows a change to destocking from restocking. And the plunge in input price index reflects negative expectations from companies.

“All these show the possibility for China’s growth to slow slightly in the future. We must work to stabilise domestic demand and make our economic recovery more sustainable.”

Another PMI survey, which is sponsored by HSBC and takes into account more small- and medium-sized firms in the private sector than the official one, is scheduled to be published on Thursday.

Its preliminary April reading, published last week, fell to 50.5 from 51.6 in March as new export orders shrank.

The fall in the official China PMI is the latest in a gloomy string of global data, including from the United States and Europe, which has dented optimism at the start of the year that the global economy was picking up.

China’s financial markets are closed for a holiday and will open on Thursday.

BA places order for 18 Airbus A350s

Category : Business, World News

British Airways orders 18 new Airbus A350s in a deal worth $6bn (£3.92bn).

Excerpt from: BA places order for 18 Airbus A350s

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US factory orders in sharp rise

Category : Business, World News

New orders at US factories rose in February from January mainly due to a jump in demand for commercial aircraft.

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Republic of Texas Brands Incorporated (RTXB: OTC Link) | RTXB ANNOUNCE FREE SHIPPING

Category : World News

REPUBLIC OF TEXAS BRANDS INCORPORATED (RTXB) ANNOUNCES FREE SHIPPING< ?xml:namespace prefix = "o" ns = "urn:schemas-microsoft-com:office:office" />

DALLAS, TX–(Marketwire – February 25, 2013 – Jerry Grisaffi, Chief Executive Officer and Chairman of the Board of Republic of Texas Brands Incorporated (PINKSHEETS: RTXB), announced today that RTXB is pleased to announce the launch of their ecommerce website www.republicoftexas.com .

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Dreamliner cash lifts Qantas profits

Category : Business, World News

Qantas profits have risen, boosted by compensation from Boeing after it cancelled 787 orders and amid narrowing losses on its international operations.

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FirsTime Design Ltd. (FTDL: OTC Link) | FIRSTIME DESIGN LIMITED ANNOUNCES FOURTH QUARTER RESULTS

Category : Stocks, World News

FIRSTIME DESIGN LIMITED (FTDL) today announced record net sales for the twelve months ended December 31, 2012, at $7,646,000 an increase of 62.5% compared to the same period last year. The Company reported consolidated net income of $446,000 or $0.26 per common share, as compared to a net loss of $1,205,000 or ($0.76) per common share last year. Three month net income ended December 31, 2012, was $110,000 or $0.07 per common share, as compared to a net loss of $803,000 or ($0.50) per common share last year; and gross margins at 17 percent compared to 16 percent in the same quarter last year.< ?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

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UK factory activity edges higher

Category : Business

Activity in the UK’s manufacturing sector edged higher in January despite falling export orders, a monthly survey suggests.

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High street winners and losers

Category : Business

How UK retailers fared over the festive period – in-store and online

Sainsbury’s

Verdict WINNER

Sales* up 0.9% (14 weeks to 5 January)

Sainsbury’s boss Justin King claimed that his supermarket was the “clear winner” of the festive trading period, recording its strongest ever performance in the week before Christmas, including more than £100m of sales on Christmas Eve alone.

Tesco

Verdict WINNER

Sales up 1.8% (6 weeks to 5 January)

Philip Clarke, Tesco’s boss, also claimed victory in the Christmas trading battle, which prompted Sainsbury’s bosses to question Tesco’s figures.

Waitrose

Verdict WINNER

Sales up 5.4% (12 days to 31 December)

Waitrose reported a surge in orders made on tablets, with 22.8% of orders over Christmas made using a tablet, compared with 16.5% made via a mobile phone.

Ocado

Verdict NEUTRAL

Sales up 14% (6 weeks to 6 January)

Sales in the seven days before Christmas were up 17% to £21.8m. Average orders per week rose 11.4% to 125,971 from 113,115 in 2011.

Wm Morrison

Verdict LOSER

Sales down 2.5% (6 weeks to 30 December)

Morrison’s was the worst performer of the large supermarket groups and analysts said it managed to avoid a profits warning only by heavily trailing its weak sales. Lost out because it has few convenience stores and no online shopping.

Marks & Spencer

Verdict LOSER

Sales fashion and home – down 3.8%, food up 0.3% (13 weeks to 29 December)

Marc Bolland, M&S’s boss, was forced to release trading figures – which were worse than even the most pessimistic analysts predicted – a day ahead of schedule after the figures were leaked.

Co-op

Verdict WINNER

Sales up 2.2% (3 weeks to 5 January)

Champagne sales were up 29%, while sales of puddings such as profiteroles rose 32% and party food sales were 53% higher. Convenience stores did best.

Next

Verdict WINNER

Sales up 3.9% (1 November- 24 December), with online growing far faster.

Analysts reckon the fall in store sales of 1% is comparable with other retailers. Saved by online trade and the fact that the retailer bought less stock, meaning less left over to be marked down in the sale.

John Lewis

Verdict WINNER

Sales up 14.8% (5 weeks to 29 December)

Online sales were 44% higher than last year, with johnlewis.com now representing £1 out of every £4 spent with the company.

Burberry

Verdict WINNER

Sales up 9% (3 months to 31 December)

Chief executive Angela Ahrendts said Burberry benefited “from a particularly strong week in the runup to Christmas” in an otherwise difficult quarter. It was a bounce back from a grim outlook in September.

French Connection

Verdict LOSER

Sales down 2.9% (in UK and Europe, 24 weeks to 12 January)

French Connection warned that it will plunge into the red by up to £8m this year after a decision to delay its winter sale tore into profits.

Debenhams

Verdict WINNER

Sales up 5% (5 weeks to 5 January)

Notched up a record December after offering steep discounts, including 50% off some knitwear, lingerie and beauty lines in the “toughest trading for 40 years”.

Halfords

Verdict WINNER (just)

Sales up 1% (15 weeks to 11 January)

Overall bike sales were down 1.6% on a same-store basis but premium brands, such as Carrera and a range designed by Olympic cyclist Chris Boardman, were up 33%.

Majestic Wine

Verdict LOSER

Sales up 1.1% (7 weeks to 31 December)

Majestic said its refusal to match aggressive discounts at supermarkets led to slower sales growth than in previous years.

JD Sports

Verdict LOSER

Sales up 3.2% (UK & Ireland, 7 weeks to 5 January)

Losses from selling outdoor clothing prompted JD to warn that annual profits would be at the low end of market expectations. “The business is much more weather-sensitive and there hasn’t been much snow this Christmas,” explained chairman Peter Cowgill.

Primark

Verdict WINNER

Sales Primark reported up 25% (16 weeks to 5 January), but analysts say up 9% on figures comparable with other retailers.

“This performance is well ahead of expectations,” Panmure Gordon analysts said.

Asos

Verdict WINNER

Sales up 34% (UK, in December)

The online clothing retailer, whose customers include Michele Obama and Nicole Scherzinger, said sales had never been stronger, with particularly high demand for black and white themed clothes and retro caps and trainers.

*Sales: like-for-like sales, which exclude any increases as a result of new shopfloor space or new outlets (except Next, Ocado,Primark, John Lewis and Asos, who report only total sales). Supermarket sales exclude fuel sales and VAT (except Co-op).

Apple slides 3%, briefly dips below $500

Category : Business, Stocks

The iPhone maker has reportedly cut orders for some components, raising fears that demand for the device is waning.

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Tech in focus as Apple drags, Dell rallies

Category : Stocks

Reports of Apple cutting supply orders due to weak iPhone 5 demand pushed the stock briefly below $500. Shares of Dell rallied on reports that the PC maker is in talks to go private.

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