Tag Archives: despite

Why bank stocks are rallying despite dismal Q1 results

The large losses in the March quarter were seen as the final sweep towards a clean balance sheet. Graphic: Mint Banking stocks have been on the rise in the past one month with those of public sector banks gaining the most. Indeed, in some cases, investors have been more gung-ho about a recovery in banks than the bank managements. Look ... Read More »

Why business expectations are so tepid despite recovery in Indian economy

The government cannot let the recovery in the Indian economy take its own sweet time, not with the elections less than a year away. Photo: Mint The Nikkei India Composite PMI Output index, a gauge of private sector economic activity in both the manufacturing and services sectors, came in at a strong 54.2 for July, up from 52.6 in June. A ... Read More »

Indian Market Still Expensive Despite Correction, Says Sanjeev Prasad Of Kotak

Indian equity market still seems expensive despite the recent correction, says Sanjeev Prasad of Kotak Institutional Equities. “China delivered something like 50 percent over the same period, so people are looking at other markets more favourably in the emerging markets space,” Prasad told BloombergQuint in an interview. Foreign investors, he said, are more cautious on India, due to problems in ... Read More »

The North Korean economy is actually growing despite sanctions

  Resolute in its commitment to communism and plagued by sanctions, North Korea has one of the most isolated economies in the world. And yet its economy is showing signs of expanding — potentially at a pretty decent pace. This weekend the New York Times’s Choe Sang-Hun wrote a fascinating article showing how the country has been experiencing economic success ... Read More »

Kraft Heinz to pursue merger despite Unilever rejection

U.S. food company Kraft Heinz Co has proposed a merger with $125 billion (£100 billion) Unilever in what would be one of the biggest deals ever, but the Anglo-Dutch consumer goods company has declined, Kraft said on Friday. A deal with Unilever, which had a market value of $125 billion before its shares spiked, would add Hellmann’s mayonnaise, Ben & ... Read More »

New £5 note: Bank to keep note despite animal fat content

The new £5 note will not be withdrawn, despite concerns that it contains traces of animal fat, the Bank of England says. The Bank said it had concluded it would be “appropriate” to keep the £5 polymer note in circulation. It will also issue the £10 polymer note as planned in September, it added. Vegans and some religious groups had ... Read More »

Snapchat owner worth up to $25bn despite making losses

Snap, owner of the Snapchat messaging app popular with teenagers, is to sell its shares on the US stock market. The California-based tech firm, which allows users to send images and messages that vanish within seconds, is set to be one of the major US share listings of recent years. The flotation is expected to value the business at between ... Read More »

Despite Saudi signals, OPEC unlikely to deliver all promised oil cuts

OPEC is unlikely to deliver fully on its target to cut production despite Saudi Arabia saying it had trimmed more than it had committed to, OPEC delegates say, but compliance of 80 percent would be good and as low as 50 percent acceptable. The Organisation of the Petroleum Exporting Countries is planning to cut its output by 1.2 million barrels ... Read More »

Asos bets big on London despite Brexit

Another win for the Brexit brigade? The decision by online retailer Asos to hire 1,500 staff over three years, as part of plans to expand its London head office, will no doubt be portrayed that way by Theresa May’s Government. Following similar announcements by Facebook and Google, both of which plan to increase their UK workforces despite the uncertainty created ... Read More »

Ford to push ahead with Mexico move despite Trump threat

US carmaker Ford is pushing ahead with plans to move some production to Mexico despite a threat by President-elect Donald Trump to impose hefty tariffs. Ford chief executive Mark Fields said it was “going forward” with its plan to shift production of small cars from its Michigan plant. However, he repeated assurances that no jobs would be lost due to ... Read More »