Burberry first-half profit meets guidance
LONDON (Reuters) – British luxury brand Burberry met forecasts for flat profit in a first half period that reported revenue above 1 billion pounds ($1.60 billion) for the first time.
EADS raises Airbus forecasts as nine-month profit rises
PARIS (Reuters) – Airbus parent EADS raised its forecast for passenger jet orders and deliveries on Thursday as it posted a 22 percent increase in underlying nine-month operating profit to 2.3 billion euros ($3.1 billion).
Cisco warns U.S. spying fallout hitting revenue in China
NEW YORK (Reuters) – Cisco Systems Inc warned its revenue would dive as much as 10 percent this quarter, and keep contracting until after the middle of 2014, as a backlash against U.S. government spying contributed to plummeting demand in emerging mark…
India headline inflation accelerates to eight-month high in October
NEW DELHI (Reuters) – India’s headline inflation accelerated to an eight-month high of 7.0 percent in October, mainly driven by higher fuel and manufactured goods prices, government data showed on Thursday.
Not so happy birthday: Abenomics ages, challenges remain
TOKYO (Reuters) – A year after Prime Minister Shinzo Abe took financial markets by storm with promises to revive the moribund Japanese economy, data showed growth slowed sharply and that his “Abenomics” policy mix is yet to secure a durable recovery.
Japan third quarter GDP slows, consumption expected to pick up again
TOKYO (Reuters) – Japan’s economy slowed less than expected in July-September and is expected to pick up pace in the current quarter as consumers spend now to beat a tax rise next year, but business investment came in sharply below market forecasts.
Obama to tout U.S. economic recovery in Ohio steel mill visit
WASHINGTON (Reuters) – President Barack Obama is set to tout the U.S. economic recovery during a visit to an Ohio steel mill on Thursday even as he faces more questions about the troubled rollout of his signature healthcare law.
Fairholme proposes to buy insurance businesses of Fannie, Freddie
(Reuters) – Fairholme Capital Management has proposed to buy the insurance businesses of Fannie Mae and Freddie Mac , a move that seeks to resolve the uncertain future of the mortgage financiers by freeing them from U.S. government control.
Rio Tinto seeks U.S. approval for Arizona copper mine
MELBOURNE (Reuters) – Rio Tinto is set to submit a mine plan to U.S. authorities this week for its $6 billion Resolution project in Arizona, which could become the largest copper producer in North America, a spokesman said on Thursday.
DoubleLine’s Gundlach says U.S. equities ‘only game in town’
(Reuters) – Jeffrey Gundlach, co-founder of DoubleLine Capital, said the U.S. stock market is the “only game in town” as the Dow and the S&P 500 closed at record highs on Wednesday, though he would be hesitant to add new money because “I don’t like buying high.”
