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Ford Motor Company (NYSE: F) Beats Expectations, But Stock Sinks on International Sales Concerns
It began as a mixed day for the Ford Motor Company (NYSE: F). Although the firm managed to handily beat the fourth quarter earnings expectations by disclosing results earlier today, their glum outlook for 2013 caused investors to retreat. A rather concerning interpretation of the results shows that while North America remains a strong, profitable market for Ford, Ford’s international markets are expected to post another combined loss in 2013. By noon today, shares Ford Motor Co. fell 1.4 percent...
Goldman Sachs (NYSE: GS) Sees Economic Growth Slowing in China
China’s economic growth for the past decade has been far above the world average, and significantly faster than key counterparts in Europe and the United States. However, the near 10% annual growth they have enjoyed may soon be coming to an end, if forecasts out of The Goldman Sachs Group Inc. (NYSE: GS) are correct.
Jim O’Neill, Chairman of Goldman Sachs Asset Management expects China’s economy to grow at a much slower pace of about seven percent over the next decade, but its stock...
Walmart Increases Ownership In Chinese Website
Retail giant Walmart is moving into the Chinese market.
February 19, 2012- Walmart announced it would purchase a 51% share in Yihaodian, an ecommerce website in China. It marks a substantial move for the retailer to increase its presence online in China. Details of the deal were not disclosed. The website is one of the fastest-growing businesses in China. Walmart has held a small stake in the company, which has over 180,000 products for sale that range from apparel to grocery items to consumer electronics.
Yihaodian...
China Says No To Carbon Tax
China will not help lower emissions from their aircrafts.
February 6, 2012- On Monday, China announced it is prohibiting its national airlines from paying for carbon emissions that the European Union is charging. The latest announcement by China increases the dispute over how to combat climate change and its costs.
The EU charges were set in place to curb the emission of gases that help to create climate change. However, governments in countries like Russia, the United States and China oppose the...
Record Sales For General Motors In China
General Motors had a banner year in China.
January 9, 2012- Despite a slowdown in the auto industry last year in China, General Motors Co. and its partners in China posted record sales in the largest automotive market in the world. In 2011, 2.55 million vehicles were sold by the company, an increase of 8.3% over 2010.
Managing Director and President of GM China, Kevin Wale said, “We stayed in front of the competition even though the industry slowed down. Our growth was due to the appealing vehicles...
Alcoa To Cut Production
Aluminum maker Alcoa is slashing production globally.
January 6, 2012- Alcoa Inc., the largest producer in the U.S. of aluminum, will cut its smelting capacity by 12% globally. Alcoa is the first aluminum producer to take such action to lower costs following a huge drop in the price of metal.
The production cut will result in the company taking a restructuring charge during the fourth quarter. This will result in Alcoa’s first loss in the last nine quarters. The large cut in production should help...
Kardashians Surprised and Shocked By Allegations
Reality TV stars the Kardashians are in big trouble for using what amounts to slave labor for their clothing line.
December 22, 2011- The Kardashian family of reality show and glamour fame was hit hard by allegations from an organization on human rights. The group alleges that clothing lines that bare the family name are made in sweatshops in China. The organization said employees of the sweatshops are abused and practically imprisoned.
The group, the Institute of Global Labor and Human Rights, said...