Archive for: July, 2012

Disablement and the Importance of Insurance

Disablement and the Importance of Insurance

It is shown by various government reports that there is a thirty percent potential for a worker now aged twenty, to become disabled before attaining the retirement age limit. However, concerns have been expressed regarding the fact that just about one third of private industry employees possess long-term disability insurance. Arguably, a disability to a [...]

Japan Operating Conditions Dip Sharply Since April 2011

Japan Operating Conditions Dip Sharply Since April 2011

July data from Markit showed Japan’s manufacturing output falling at the harpest rate in 15 months, as both new orders and new export business decreased at accelerated rates. A second successive month-on-month decline in purchasing contributed to the strongest improvement in vendor performance since June 2009, while a sharp drop in backlogs of work highlighted [...]

Manchester United Sets $300m US IPO Terms

Manchester United Ltd., an English professional soccer club owned by Malcom Glazer, announced terms for its IPO. The Manchester, United Kingdom-based company plans to raise $300 million by offering 16.7 million shares (50% insider) at a price range of $16.00 to $20.00. At the midpoint of the proposed range, Manchester United Ltd. would command a [...]

CFOs Are Charting a Stormy Course – Survey

CFOs Are Charting a Stormy Course – Survey

A survey has shown how CFOs use cost-cutting, performance management, and the drivers of high-performing organizations to help their agencies through financial storms while continuing to produce results for the American public. The Association of Government Accountants (AGA) and Grant Thornton LLP today release the 17th annual survey of federal Chief Financial Officers (CFO). The [...]

Pre-Market Earnings Report for July 31

The following companies are expected to report earnings prior to market open on 07/31/2012. Visit our Earnings Calendar for a full list of expected earnings releases. BP p.l.c. ( BP ) is reporting for the quarter ending June 30, 2012. The oil company’s consensus earnings per share forecast from the 5 analysts that follow the [...]

NASDAQ After Hours Most Active for Jul 30

The NASDAQ 100 After Hours Indicator is down -.29 to 2,641.83. The total After hours volume is currently 16,798,059 shares traded. ENSCO plc ( ESV ) is -0.44 at $56.00, with 19,953,267 shares traded. Over the last four weeks they have had 12 up revisions for the earnings forecast, for the fiscal quarter ending Sep [...]

Global Aerospace and Defense Industry Sluggish in 2011

Global Aerospace and Defense Industry Sluggish in 2011

The financial performance of the global aerospace and defense (A&D) industry generally fell in 2011, says a report. Despite the uncertainty in the defense sector, Deloitte’s report found that the global A&D industry as a whole grew in 2011 to $681 billion, posting a sluggish revenue gain of 2.3 percent, compared to 2.5 percent in [...]

OFT Slams Booking.com, Expedia and Intercontinental Hotels Group

OFT Slams Booking.com, Expedia and Intercontinental Hotels Group

The Office of Fair Trading (OFT) has said Booking.com B.V. (Booking.com), Expedia Inc (Expedia) and InterContinental Hotels Group plc (IHG) have infringed competition law in relation to the online supply of room only hotel accommodation by online travel agents. The Statement of Objections alleges that Booking.com and Expedia each entered into separate arrangements with IHG [...]

Ponzi Scheme in Pennsylvania Busted

Ponzi Scheme in Pennsylvania Busted

The US Securities and Exchange Commission filed fraud charges against Bucks-County, Pennsylvania-resident Emanuel L. Sarris, Sr. and his firm, Sarris Financial Group, Inc. for facilitating a massive Ponzi scheme operated by another individual. The SEC’s complaint alleges that, from 2001 through 2009, Sarris (through Sarris Financial) convinced over 70 individuals to invest over $30 million [...]

Creating Jobs, Growing Food in Tajikistan

Creating Jobs, Growing Food in Tajikistan

Farming in Tajikistan employs around 75% of the total population, but yields so little that rural residents are in a constant struggle to make ends meet. Making matters worse are recent bad weather, outbursts of locusts and poor connections with regional markets. Food insecurity and staggering unemployment levels have become significant concerns in rural Tajikistan. [...]

‘Food Price Volatility a Growing Concern’

‘Food Price Volatility a Growing Concern’

The World Bank expressed concern for the impacts of food price volatility on the world’s poor, who are highly vulnerable to increases in food prices. The World Bank expressed worries amid the exceptional drought in the US, current crop conditions in other grain producing regions, and the resulting increase in international food prices. “When food [...]

LocatePlus Holdings Settles SEC Suit

LocatePlus Holdings Settles SEC Suit

LocatePlus Holdings Corporation (LocatePlus) has agreed to settle charges it engaged in securities fraud for two years by misleading investors about its funding and revenue. As part of the settlement, LocatePlus agreed to stop selling its securities in the public market. The proposed judgment, which is subject to court approval, will not impose monetary relief [...]

Connecting the Americas: Filling in the ICT Gaps

Connecting the Americas: Filling in the ICT Gaps

In the 1980s, countries in Latin America and the Caribbean spearheaded reforms in the telecommunications sector, and many countries around the world followed in that path. They started by privatizing state-owned incumbents and then opened up the sector to new entrants which led to a competitive market, particularly for mobile operators. The gap in access [...]

FAF Seeks Survey Participants for Post-Implementation Review of FASB Statement No. 141R

The Financial Accounting Foundation (FAF), the oversight body of the Financial Accounting Standards Board (FASB), is seeking interested stakeholders who would like to be considered to participate in a post-implementation review (PIR) survey of FASB Statement No. 141R, Business Combinations. The survey will help the FAF evaluate the effectiveness of the accounting standard by hearing from users, [...]

Statement from the Board of the PCAOB on the 10-Year Anniversary of the Sarbanes-Oxley Act

Since the Public Company Accounting Oversight Board was created 10 years ago by the Sarbanes-Oxley Act, the U.S. system of auditor oversight has been fundamentally reformed to better protect investors. The model has spread around the world. The United States has the most robust, liquid capital markets in the world, and they have propelled our [...]

SEC Charges N.Y.-Based Fund Manager and Others with Securities Law Violations

SEC Charges N.Y.-Based Fund Manager and Others with Securities Law Violations

The US Securities and Exchange Commission has filed several charges of securities law violations against a New York-based investment manager and two firms in relation to their activities with a Chinese reverse merger company. The SEC alleges that Peter Siris, an active investor in Chinese companies and former newspaper money columnist, misled investors in his [...]

Allowing Your Business Credit Cards Get Personal

Allowing Your Business Credit Cards Get Personal

It is the practice of many small business owners to separate their work related expenses from personal finances by using business credit cards. This is a useful process in maintaining records for accounting and tax purposes. However, these good intentions do not guarantee that your credit cards follow the same route! Providers of business credit [...]

Record Decline in Margins As Widespread Discounting in France Fails to Prevent Further Fall in Sales

French retailers encountered another tough month in July. Sales fell at a sharper rate on both a monthly and an annual basis, while margins were squeezed to the greatest extent in the survey history. The pace of job shedding accelerated, while retailers scaled back their purchasing of goods and lowered their inventories. The headline Retail [...]

Eurozone Retail Sales Fall for 9th Month Running in July

The Eurozone retail downturn continued at the start of the third quarter, according to PMI data from Markit. Sales fell on a month-on-month basis for the ninth successive month – the joint-second longest sequence in the survey history – and at a faster rate than in June. The Eurozone Retail PMI is an indicator of [...]

Downturn in Italian Retail Sales Continues in July

July data pointed to a further reduction in activity in the Italian retail sector, with sales down both on the month and compared with levels one year ago. The rates of decline in employment, purchasing activity and inventories all accelerated, while profitability continued to deteriorate sharply. Cost pressures, however, eased to the weakest in 20 [...]