Tag Archives: 2016

Video that India Today wrongly linked to Pakistan forced conversions in 2016 is viral again

A n India Today broadcast from 2016 with the narrative “Hindu women abducted, converted to Islam and sold for 50k rupees in Pakistan by cops” has been widely shared on social media in the past few days. The video starts with a clip of a policeman slapping a burkha-clad woman and goes on to say that women and children from ... Read More »

Prada 2016 revenue down 10 percent as Asia, Japan lead global decline

Italian fashion group Prada (1913.HK) reported a 10 percent drop in revenues on Monday as sales fell across all regions, including Japan and its top market Asia Pacific. Consolidated revenues in the financial year through January 2017 fell to 3.18 billion euros (3 billion pounds), down from 3.55 billion euros a year before. At constant exchange rates sales were down ... Read More »

Jaguar Land Rover sells record 583,313 cars in 2016

Britain’s biggest carmaker Jaguar Land Rover (JLR) (TAMO.NS) sold a record 583,312 cars last year as the Indian-owned firm continues its rapid expansion with the aim of building 1 million vehicles a year at the turn of the decade. Sales were up 20 percent from the previous year, although sales growth slowed to 12 percent year-on-year in December, the carmaker ... Read More »

US Election 2016: Markets meltdown fails to materialise

US share markets have shrugged off fears that a Donald Trump election victory could lead to a large Wall Street sell-off. The S&P 500 and Dow Jones indexes were up 1% in late morning trading, with the Nasdaq also in positive territory. The pre-open future markets forecasted dramatic sell-offs when Donald Trump’s lead became clear overnight. Share traders had expected ... Read More »

Oil hits 2016 high, led by falling output and weaker dollar

Oil hit its highest level this year on Wednesday, driven by a falling dollar and evidence of declining U.S. supply, putting the price on course for its strongest monthly performance since last April. The prospect of an agreement among the world’s largest exporters to limit production, which had provided the catalyst for a 55 percent rally since mid-February, evaporated almost ... Read More »

Adidas raises 2016 guidance after first-quarter earnings jump

German sporting goods group Adidas (ADSGn.DE) hiked its guidance for 2016 sales and earnings a second time as it reported a 38 percent jump in quarterly underlying profit, citing strong brand momentum. Adidas said on Wednesday it now expected its 2016 currency-adjusted sales to grow by about 15 percent, compared with a previous forecast for a rise of 10 to ... Read More »

Global shares hit 2016 high, U.S. dollar holds recent gains

Wall Street stock indexes were little changed a day after the S&P 500 closed at its highest since early December. European shares .FTEU3 added to substantial gains made on Wednesday and MSCI’s gauge of stocks across the globe .MIWD00000PUS ended at its highest level of the year. “The (U.S. stock) market has rebounded nicely, but it’s running into resistance,” said ... Read More »

World Bank trims 2016, 2017 East Asia growth forecasts, cites risks to outlook

The World Bank trimmed its 2016 and 2017 economic growth forecasts for developing East Asia and Pacific, and said the outlook was clouded by risks such as uncertainty over China’s growth prospects, financial market volatility and further falls in commodity prices. The Washington-based lender now expects the developing East Asia and Pacific (EAP) region, which includes China, to grow 6.3 ... Read More »

Nigeria may issue Chinese Panda bonds to help fund 2016 budget

Nigeria is considering a sale of Chinese Panda bonds to help fund a record budget aimed at reviving Africa’s biggest economy as it suffers a slump in global oil prices, the finance minister said on Saturday. The OPEC member, which is Africa’s No. 1 crude producer, could also dip into cash set aside for energy investment projects to help meet ... Read More »

Historical pattern says the risk of a 2016 bear market is zer

In physics, escape velocity is the minimum speed needed for an object to break free from the gravitational attraction of a massive body. What is the “escape velocity” needed for stocks to break their down trend? Unlike in physics, there is no fail-proof formula for stocks. However, based on history, the S&P 500 just rallied strongly enough to end its ... Read More »