ECB Leaves Stimulus Unchanged as Decision Deadline for QE Looms
The European Central Bank kept its quantitative-easing program and interest rates unchanged as suspense builds up over a possible extension of bond-buying later this year.The Governing Council left the main refinancing rate at zero, the deposit rate at minus 0.4 percent and asset purchases at 80 billion euros ($88 billion) a month, as predicted by all economists in a Bloomberg survey. The future path of asset purchases, which are currently scheduled to end in March, will loom large when Preside..>> view originalNestlé to Miss Its Long-Term Sales Target, Again
Updated Oct. 20, 2016 7:47 a.m. ET VEVEY, Switzerland— Nestlé SA NSRGY -0.42 % reported subdued sales growth and said it would fall short of a key revenue growth benchmark for a fourth straight year, underscoring the difficult environment for major global consumer goods companies. The results, which were below analysts’ expectations, came on the heels of recent figures from peers such as Unilever UL -0.93 % PLC and Danone SA DANOY -0.18 % that also showed ..>> view originalFacebook CEO Zuckerberg reportedly defends PayPal co-founder for supporting Trump
Facebook CEO Mark Zuckerberg reportedly defended PayPal co-founder Peter Thiel after his support for Republican presidential nominee Donald Trump drew criticism. Thiel, a Facebook board member, donated $1.25 million to Trump’s campaign this week after several woman accused him of sexual assault. Zuckerberg commented on Thiel’s decision to support Trump and the importance of having diversity. A leaked screen shot was reported by Hacker News in what appears to be a staff memo to Facebook employe..>> view originalWorld wine output expected to hit four-year low
Image copyright LOIC VENANCE Image caption World wine output is expected to hit a four-year low in 2016 World wine output is expected to hit a four-year low in 2016 after bad weather hit production in France and South America, industry forecasts say. Trade group the International Organisation of Vine and Wine (OIV) has estimated output will reach 259.5m hectolitres (mhl) this year - a fall of 5% compared with 2015.This would be among the three poorest..>> view originalWalgreens Posts Strong 4Q Earns, but Delays Rite Aid Deal
Walgreens Boots Alliance earnings topped $1 billion during the fourth quarter, easily surpassing analyst expectations, but the nation's largest drugstore chain also announced a delay in closing its latest megadeal.Walgreens said Thursday that it expects to wrap up its $9.4 billion purchase of rival Rite Aid Corp. early next year, rather than by the end of 2016.It revealed plans to buy the nation's third-largest drugstore chain nearly a year ago, a combination that could create a chain with more..>> view originalNissan Formally Takes Controlling Stake in Mitsubishi Motors
TOKYO—Nissan Motor Co. on Thursday completed its purchase of a controlling stake in scandal-hit Mitsubishi Motors Corp. for more than $2 billion, a deal aimed at boosting scale to take on the world’s top auto makers. With the addition of Mitsubishi, the 17-year-old alliance between Nissan and Renault SA produces around 10 million vehicles a year, making it one of the three largest automotive groups in the world, behind Toyota Motor...>> view originalVerizon Falls Short on Subscribers in Quest to Protect Profits
Verizon Communications Inc. added fewer wireless subscribers than expected in the third quarter amid intensified price competition from smaller rivals, putting pressure on the company’s media and advertising ventures to offset its maturing phone business. Exclusive insights in your inbox, from our technology reporters around the world. Get Fully Charged, from Bloomberg Technology. Business Your..>> view originalLuxury Market Stagnates as Wealthy Chinese Shoppers Stay at Home
The world’s luxury-goods market stopped growing this year, according to a forecast from researcher Bain & Co., as the industry struggles to emerge from one of its weakest periods since the global recession.Sales of personal luxury goods from Louis Vuitton coats to Hermes handbags are projected to linger at about 249 billion euros ($273 billion) in 2016, the weakest performance since 2009 at constant exchange rates. At actual rates, sales are set to slip 1 percent, Bain predicts.The outlook adds..>> view originalObamacare enrollment projected to grow 9% in 2017
Obamacare enrollment is expected to grow 9% to an average of 11.4 million in 2017, administration officials said Wednesday. Enrollment next year is critical for the president's signature health reform law, which is going through major shakeups. Large insurers, including Aetna and UnitedHealthcare, are scaling back participation, and remaining carriers are hiking premiums to stem losses from sicker-than-expected enrollees. Some 10.4 million people were enrolled in Obamacare plans a..>> view originalDunkin' Brands Sales Fall on Fewer New Restaurants and Tight Competiton
Dunkin’ Brands Group posted lower-than-expected quarterly revenue on Thursday, hurt by fewer restaurant openings and a drop in sales at established Baskin-Robbins outlets in the United States. U.S. restaurants are battling intense competition from upstart chains and meal-kit sellers, and getting battered by lower grocery prices, which are encouraging customers to cook more at home. Dunkin’ dnkn cut its revenue growth forecast for 2016 to about 2%, from 3-5%, citing weaker-than-expected s..>> view original
Wednesday, October 26, 2016
ECB Leaves Stimulus Unchanged as Decision Deadline for QE Looms and other top stories.
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